Radcom's One-for-Four Reverse Share Split to Become Effective on June 16th
June 05 2008 - 7:11AM
PR Newswire (US)
TEL AVIV, Israel, June 5 /PRNewswire-FirstCall/ -- RADCOM Ltd.
("RADCOM" or the "Company") (NASDAQ and TASE: RDCM) today announced
that it has secured all required authorizations from its
shareholders, NASDAQ and the Tel Aviv Stock Exchange, and that it
will execute a one-for-four reverse share split of its outstanding
Ordinary Shares on June 16, 2008. On that date, the Company's
shares will begin trading under the symbol RDCMD for a period of 20
trading days, and then will return to RDCM. After the reverse
split, the number of the Company's authorized Ordinary Shares will
decrease from 39,990,680 to 9,997,670 Ordinary Shares and the
number of Ordinary Shares outstanding will decrease from 20,303,638
to 5,075,910, reflecting the rounding of fractional shares. The
Company believes that this reverse share split will enable it to
regain compliance with the minimum bid price requirement of $1.00
and therefore to continue to be listed on the NASDAQ Capital
Market. The Company believes that continued listing on the NASDAQ
Capital Market will enable the Company to have greater access to
public capital markets and will afford the Company's shareholders
greater liquidity with respect to their shareholdings in the
Company. About RADCOM RADCOM develops, manufactures, markets and
supports innovative network test and service monitoring solutions
for communications service providers and equipment vendors. The
Company specializes in next-generation Cellular as well as IMS,
Voice, Data and VoIP networks. Its solutions are used in the
development and installation of network equipment and in the
maintenance of operational networks. The Company's products
facilitate fault management, network service performance monitoring
and analysis, troubleshooting and pre-mediation. RADCOM's shares
are listed on both the NASDAQ Capital Market and the Tel Aviv Stock
Exchange under the symbol RDCM. For more information, please visit
http://www.radcom.com/. Risks Regarding Forward-Looking Statements
Certain statements made herein that use the words "estimate,"
"project," "intend," "expect," "believe" and similar expressions
are intended to identify forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve known and unknown risks
and uncertainties that could cause the actual results, performance
or achievements of the Company to be materially different from
those that may be expressed or implied by such statements,
including, among others, changes in general economic and business
conditions and specifically, decline in the demand for the
Company's products, inability to timely develop and introduce new
technologies, products and applications, and loss of market share
and pressure on prices resulting from competition. For additional
information regarding these and other risks and uncertainties
associated with the Company's business, reference is made to the
Company's reports filed from time to time with the United States
Securities and Exchange Commission. The Company does not undertake
to revise or update any forward-looking statements for any reason.
Contact: Jonathan Burgin CFO +972-3-645-5004 DATASOURCE: Radcom Ltd
CONTACT: Contact: Jonathan Burgin, CFO, +972-3-645-5004,
Copyright