Zohar Zisapel, Radcom's Chairman and Largest Shareholder, Expands Shareholding Through Exercise of Warrants
November 17 2009 - 4:10PM
PR Newswire (US)
TEL-AVIV, Israel, November 17 /PRNewswire-FirstCall/ -- RADCOM Ltd.
("RADCOM" or the "Company") (NASDAQ:RDCM), a leading network test
and service assurance solutions provider, today announced that Mr.
Zohar Zisapel, its Chairman and largest shareholder, exercised this
week warrants to purchase 20,313 ordinary shares of the Company at
an exercise price of $3.20 per share for an aggregate purchase
price of $65,000 (the "Warrant Exercise"). As a result, Mr. Zisapel
now holds 1,607,569 RADCOM shares (excluding warrants and options),
representing approximately 31.6% of the Company's issued share
capital. (Logo: http://www.newscom.com/cgi-bin/prnh/20090331/342930
) On November 9, 2009, the Company received a Nasdaq Staff
deficiency letter (the "Nasdaq Letter") indicating that RADCOM, as
of September 30, 2009 fell short by $63,000 from complying with the
minimum $2,500,000 shareholders' equity requirement for continued
listing on The Nasdaq Capital Market. To the Company's best good
faith estimate, following the Warrant Exercise, its shareholders'
equity as of the date hereof is above $2,500,000. The Company was
informed by the Nasdaq Staff that it will continue to monitor its
ongoing compliance with the said minimum shareholders' equity
requirement. 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 the NASDAQ Capital Market 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
http://www.newscom.com/cgi-bin/prnh/20090331/342930DATASOURCE:
Radcom Ltd CONTACT: Contact: Jonathan Burgin, CFO, +972-3-645-5004,
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