Ikanos Announces Proposed Public Offering of Common Stock
FREMONT, CA -- (Marketwired) -- 11/01/13 -- Ikanos Communications,
Inc. (NASDAQ: IKAN) today announced that it is offering to sell
22,500,000 shares of its common stock in an underwritten public
offering. Ikanos has also granted the underwriters an option to
purchase up to 3,375,000 additional shares to cover over-allotments,
if any. Needham & Company, LLC is acting as the sole bookrunning
manager of the offering. Craig-Hallum Capital Group is co-manager.
Ikanos intends to use the net proceeds from the offering for working
capital and general corporate purposes and for capital expenditures.
In addition, the Company may use a portion of the net proceeds for
acquisitions of complementary businesses, technologies or other
A registration statement relating to these securities has been filed
with the Securities and Exchange Commission (SEC), but has not yet
become effective. These securities may not be sold nor may offers to
buy be accepted prior to the time that the registration statement
becomes effective. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be any
sale of these securities in any state or 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
jurisdiction. Copies of the preliminary prospectus relating to this
offering, when available, may also be obtained from Needham &
Company, LLC, 445 Park Avenue, New York, NY 10022, by telephone at
800-903-3268, or by email to email@example.com or Craig-Hallum
Capital Group, 222 South Ninth Street, Suite 350, Minneapolis, MN
55402, by telephone at 612-334-6300, or by email to
About Ikanos Communications, Inc.
Ikanos Communications, Inc.
(NASDAQ: IKAN) is a leading provider of advanced broadband
semiconductor and integrated software products for the digital home.
The company's broadband DSL, communications processors and other
offerings power access infrastructure and customer premises equipment
for many of the world's leading network equipment manufacturers and
telecommunications service providers.
Copyright 2013 Ikanos Communication
s, Inc. All Rights Reserved.
Ikanos Communications, Ikanos and the Ikanos logo are trademarks or
registered trademarks of Ikanos Communications. All other trademarks
are properties of their respective holders.
Safe Harbor Statement
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 regarding the proposed public offering and the
intended use of proceeds from the offering. The proposed offering is
subject to market and other conditions and there can be no assurance
as to whether or when the offering may be completed or as to the
number of shares sold, offering price or other terms of the offering.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially,
including market conditions, our ability to maintain adequate cash
and short-term investment balances, our ability to comply with the
financial covenants in our credit agreement, unexpected future costs
and expenses, financing requirements and other risks detailed from
time to time in our filings with the SEC. These statements 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. Ikanos
undertakes no obligation to update or revise these forward-looking
statements to reflect events or circumstances subsequent to date of
this press release.
Ikanos Media Contact:
Investor Relations Contact:
MKR Group, Inc.
Todd Kehrli or Jim Byers
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