Ceragon Networks Ltd. Prices Underwritten Public Offering of Ordinary Shares
PARAMUS, New Jersey, November 20, 2013
PARAMUS, New Jersey, November 20, 2013 /PRNewswire/ --
Ceragon Networks Ltd. (NASDAQ: CRNT), today announced the pricing of an
underwritten public offering of 14,000,000 of its ordinary shares at a price
of $2.40 per share. The company has also granted to the underwriters a 30-day
option to acquire an additional 1,600,000 shares to cover overallotments in
connection with the offering. After the underwriting discount and estimated
offering expenses payable by the company, the company expects to receive net
proceeds of approximately $31.4 million, assuming no exercise of the
overallotment option. The offering is expected to close on November 26, 2013,
subject to customary closing conditions.
Needham & Company is acting as lead book-running manager of the offering.
Oppenheimer & Co. is acting as co-book runner.
Ceragon intends to use the net proceeds from the offering for general
corporate purposes. The shares described above are being offered by Ceragon
pursuant to a registration statement on Form F-3, including a base prospectus,
previously filed with and subsequently declared effective by the Securities
and Exchange Commission. The securities may be offered only by means of a
prospectus. A preliminary prospectus supplement relating to the offering was
filed with the SEC on November 19, 2013 and a final prospectus supplement
relating to the offering will be filed with the SEC and will be available on
the SEC's website at http://www.sec.gov. Copies of the final prospectus
supplement and accompanying base prospectus relating to this offering may also
be obtained, when available, from Needham & Company, LLC, 445 Park Avenue, New
York, NY 10022, (800) 903-3268.
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any of the securities described herein, 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.
About Ceragon Networks Ltd.
Ceragon Networks Ltd. (NASDAQ: CRNT) is the #1 high-capacity wireless hauling
specialist. We provide innovative, flexible and cost-effective wireless
backhaul and fronthaul solutions that enable mobile operators and other
wired/wireless service providers to deliver 2G/3G, 4G/LTE and other broadband
services to their subscribers. Ceragon's high-capacity, solutions use
microwave technology to transfer voice and data traffic while maximizing
bandwidth efficiency, to deliver more capacity over longer distances under any
deployment scenario. Based on our extensive global experience, Ceragon
delivers turnkey solutions that support service provider profitability at
every stage of the network lifecycle enabling faster time to revenue,
cost-effective operation and simple migration to all-IP networks. As the
demand for data pushes the need for ever-increasing capacity, Ceragon is
committed to serve the market with unmatched technology and innovation,
ensuring effective solutions for the evolving needs of the marketplace. Our
solutions are deployed by more than 430 service providers in over 130
Ceragon's IRapp available on AppStore & GooglePlay
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 "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
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
actual size or terms of the offering. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to differ
materially, including the satisfaction of the conditions to the closing of the
offering, market conditions, risks associated with the cash requirements of
our business and other risks detailed from time to time in our Annual Report
on Form 20-F and other filings with the Securities and Exchange Commission,
and 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. We do not
assume any obligation to update any forward-looking statements.
Media Contact: Company & Investor Contact:
Justine Schneider Yoel Knoll
Calysto Communications Ceragon Networks
Tel: +1-(404)-266-2060 x507 Tel. +1-(201)-853-0228
SOURCE Ceragon Networks Ltd
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