Shareholders are Not Required to Take any Action at this
Time
RICHARDSON, Texas, June 28,
2022 /PRNewswire/ -- Ceragon Networks Ltd.
(NASDAQ: CRNT) ("Ceragon" or the "Company"), the global
innovator and leading solutions provider of 5G wireless
transport, confirms receipt of two letters from its competitor,
Aviat Networks, Inc. ("Aviat"). The letters include a request
to convene an extraordinary general meeting of shareholders calling
for a change in the composition of Ceragon's Board of Directors,
whereby Aviat's hand-picked nominees would constitute a majority of
the Board. The letters also include an indication of interest from
Aviat with respect to a potential acquisition of Ceragon.
Ceragon's Board of Directors in consultation with its advisors
will review the letters and shall duly act in the interests of the
Company and its shareholders and in accordance with applicable
law.
Ceragon's shareholders need not take action at this time.
About Ceragon Networks
Ceragon Networks Ltd. (NASDAQ: CRNT) is the global
innovator and leading solutions provider of 5G wireless transport.
We help operators and other service providers worldwide increase
operational efficiency and enhance end customers' quality of
experience with innovative wireless backhaul and fronthaul
solutions. Our customers include service providers, public safety
organizations, government agencies and utility companies, which use
our solutions to deliver 5G & 4G broadband wireless
connectivity, mission-critical multimedia services, stabilized
communications, and other applications at high reliability and
speed.
Ceragon's unique multicore technology and disaggregated approach
to wireless transport provides highly reliable, fast to deploy,
high-capacity wireless transport for 5G and 4G networks with
minimal use of spectrum, power, real estate, and labor resources.
It enables increased productivity, as well as simple and quick
network modernization, positioning Ceragon as a leading solutions
provider for the 5G era. We deliver a complete portfolio of turnkey
end-to-end AI-based managed and professional services that ensure
efficient network rollout and optimization to achieve the highest
value for our customers. Our solutions are deployed by more than
400 service providers, as well as more than 800 private network
owners, in more than 150 countries. For more information please
visit: www.ceragon.com
Safe Harbor
Ceragon Networks® and FibeAir® are registered trademarks of
Ceragon Networks Ltd. in the United
States and other countries. CERAGON ® is a trademark of
Ceragon Networks Ltd., registered in various countries. Other names
mentioned are owned by their respective holders.
This press release contains statements that constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933, as amended and the Securities Exchange Act of 1934, as
amended, and the safe-harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are
based on the current beliefs, expectations and assumptions of
Ceragon's management about Ceragon's business, financial condition,
results of operations, micro and macro market trends and other
issues addressed or reflected therein. Examples of forward-looking
statements include, but are not limited to, statements regarding:
projections of demand, revenues, net income, gross margin, capital
expenditures and liquidity, competitive pressures, order timing,
supply chain and shipping, components availability, growth
prospects, product development, financial resources, cost savings
and other financial and market matters. You may identify these and
other forward-looking statements by the use of words such as "may",
"plans", "anticipates", "believes", "estimates", "targets",
"expects", "intends", "potential" or the negative of such terms, or
other comparable terminology, although not all forward-looking
statements contain these identifying words.
Although we believe that the projections reflected in such
forward-looking statements are based upon reasonable assumptions,
we can give no assurance that our expectations will be obtained or
that any deviations therefrom will not be material. Such
forward-looking statements involve known and unknown risks and
uncertainties that may cause Ceragon's future results or
performance to differ materially from those anticipated, expressed
or implied by such forward-looking statements. These risks and
uncertainties include, but are not limited to, any ongoing actions
taken and future actions that may be taken by Aviat Networks or
other stockholders or others; the continuing impact of the
components shortage due to the global shortage in semiconductors,
chipsets, components and other commodities, on our supply chain,
manufacturing capacity and ability to timely deliver our products,
which have caused, and could continue to cause delays in deliveries
of our products and in the deployment of projects by our customers,
risk of penalties and orders cancellation created thereby, as well
as profit erosion due to constant price increase, payment of
expedite fees and costs of inventory pre-ordering and procurement
acceleration of such inventory, and the risk of becoming a
deadstock if not consumed; the continued effect of the global
increase in shipping costs and decrease in shipping slots
availability on us, our supply chain and customers, which have
resulted, and may continue to result in, price erosion, late
deliveries and the risk of penalties and orders cancellation due to
late deliveries; the impact of the transition to 5G technologies on
our revenues if such transition is developed differently than we
anticipated; the risks relating to the concentration of a major
portion of our business on large mobile operators around the world
from which we derive a significant portion of our ordering, that
due to their relative effect on the overall ordering coupled with
inconsistent ordering pattern and volume of business directed to
us, creates high volatility with respect to our financial results
and results of operations; the effect of the competition from other
wireless transport equipment providers and from other communication
solutions that compete with our high-capacity point-to-point
wireless products; the continued effect of the COVID-19 pandemic on
the global economy and markets and on us and on the markets in
which we operate and our and our customers, providers, business
partners and contractors business and operations; the risks
relating to increased breaches of network or information technology
security along with increase in cyber-attack activities, growing
cyber-crime threats, and changes in privacy and data protection
laws, that could have an adverse effect on our business; risks
associated with any failure to meet our product development
timetable, including delay in the commercialization of our new
chipset; imposition of additional sanctions and global trade
limitations in connection with Russia's invasion to Ukraine, the effects of general economic
conditions and trends on the global and local markets in which we
operate and such other risks, uncertainties and other factors that
could affect our results, as further detailed in Ceragon's most
recent Annual Report on Form 20-F and in Ceragon's other filings
with the Securities and Exchange Commission.
Such forward-looking statements, including the risks,
uncertainties and other factors that could affect our results,
represent our views only as of the date they are made and should
not be relied upon as representing our views as of any subsequent
date. Such forward-looking statements do not purport to be
predictions of future events or results and there can be no
assurance that it will prove to be accurate. Ceragon may elect to
update these forward-looking statements at some point in the future
but the company specifically disclaims any obligation to do so
except as may be required by law.
Ceragon's public filings are available on the Securities and
Exchange Commission's website at www.sec.gov and may also be
obtained from Ceragon's website at www.ceragon.com.
Ceragon Investor & Media Contact:
Maya Lustig
Ceragon Networks
Tel. +972-54-677-8100
mayal@ceragon.com
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SOURCE Ceragon Networks Ltd.