TEL AVIV, Israel, May 20, 2016 /PRNewswire/ --
RADCOM Ltd. (NASDAQ: RDCM), a leading provider of
NFV-ready service assurance and customer experience management
solutions for Communications Service Providers (CSPs), announced
the pricing of its previously announced underwritten public
offering of 1,818,182 ordinary shares at an offering price of
$11.00 per share. Gross
proceeds from the offering are expected to be approximately
$20 million, before underwriting
discounts and commissions and other offering expenses. In
connection with the offering, RADCOM has also granted the
underwriters a 30-day option to purchase up to an additional
272,727 ordinary shares. RADCOM'S largest shareholder, Zohar
Zisapel, has agreed to purchase 200,000 ordinary shares offered in
this offering from the underwriters at the public offering price.
The offering is expected to close on or about May 25, 2016, subject to customary closing
conditions.
RADCOM intends to use the net proceeds of the offering for
general corporate purposes, which may include financing its
operations, capital expenditures and business development.
In connection with the offering, William
Blair & Company, L.L.C. is acting as the sole
book-running manager and Needham & Company, LLC is acting as
the lead manager.
This offering is being made pursuant to an effective "shelf"
registration statement on Form F-3 (File No. 333-210448) declared
effective by the Securities and Exchange Commission (SEC) on
May 4, 2016.
A preliminary prospectus supplement relating to the offering has
been filed with the SEC and a final prospectus supplement relating
to the offering will be filed with the SEC. When available,
copies of the final prospectus supplement and accompanying
prospectus may be obtained by contacting William Blair & Company, L.L.C. at 222 West
Adams Street, Chicago, IL 60606,
Attention: Prospectus Department, by telephone at (800) 621-0687,
or by email at prospectus@williamblair.com. Electronic copies
of the final prospectus supplement and accompanying prospectus will
also be available on the SEC's website at http://www.sec.gov .
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy any securities nor will there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or other jurisdiction.
About RADCOM
RADCOM (NASDAQ: RDCM) is a first-mover and leading provider of
NFV-ready service assurance and customer experience management
solutions for Communications Service Providers (CSPs). RADCOM's
software - MaveriQ - continuously monitors network performance and
quality of services, to optimize user experience for CSPs'
subscribers. RADCOM specializes in solutions for next-generation
mobile and fixed networks, including LTE, VoLTE, IMS and others.
MaveriQ enables CSPs to smoothly migrate their networks to NFV by
assuring physical, NFV-based and hybrid networks. For more
information, please visit http://www.radcom.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
securities laws. Because such statements deal with future events
and are based on RADCOM's current expectations, they are subject to
various risks and uncertainties and actual results, performance or
achievements of RADCOM could differ materially from those described
in or implied by the statements in this press release. For example,
forward-looking statements include statements regarding RADCOM's
proposed public offering, the possible purchase of additional
shares, successful closing of the offering and planned use of the
net proceeds from the offering. The forward-looking statements
contained or implied in this press release are subject to other
risks and uncertainties, including the satisfaction of customary
closing conditions related to the offering, and other risk factors
discussed in RADCOM's prospectus supplement and in RADCOM's Annual
Report on Form 20-F for the fiscal year ended December 31, 2015, as amended, filed with the SEC
and in subsequent filings with the SEC. Except as otherwise
required by law, RADCOM disclaims any intention or obligation to
update or revise any forward-looking statements, which speak only
as of the date they were made, whether as a result of new
information, future events or circumstances or otherwise.
Contact:
Uri Birenberg, CFO
+(972)77-774-5060
urib@radcom.com
SOURCE RADCOM Ltd