TEL AVIV, Israel, May 16, 2016 /PRNewswire/ --
RADCOM Ltd. (NASDAQ: RDCM), a leading provider of
NFV-ready service assurance and customer experience management
solutions for Communications Service Providers (CSPs), announced
today that it intends to offer $20
million of its ordinary shares in an underwritten public
offering pursuant to an effective shelf registration statement.
RADCOM expects to grant the underwriters a 30-day option to
purchase up to an additional 15% of the ordinary shares offered in
the public offering. RADCOM'S largest shareholder, Zohar Zisapel,
has agreed to purchase up to $5.6
million of the ordinary shares offered in this offering from
the underwriters at the public offering price not otherwise
purchased by other investors.
RADCOM intends to use the net proceeds of the offering for
general corporate purposes, which may include financing its
operations, capital expenditures and business development.
In connection with the offering, William
Blair & Company, L.L.C. is acting as the sole
book-running manager and Needham & Company, LLC is acting as
the lead manager.
The offering is subject to market 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.
This offering is being made pursuant to an effective "shelf"
registration statement on Form F-3 (File No. 333-210448), declared
effective by the Securities and Exchange Commission (SEC) on
May 4, 2016. When available,
copies of the preliminary prospectus supplement and accompanying
prospectus may be obtained by contacting William Blair & Company, L.L.C. at 222 West
Adams Street, Chicago, IL 60606,
Attention: Prospectus Department, by telephone at (800) 621-0687,
or by email at prospectus@williamblair.com. Electronic copies
of the preliminary prospectus supplement and accompanying
prospectus will also be available on the SEC's website at
http://www.sec.gov.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy any securities nor will there
be any sale of these securities in any state or other 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 other jurisdiction.
About RADCOM
RADCOM (NASDAQ: RDCM) is a first-mover and leading provider of
NFV-ready service assurance and customer experience management
solutions for Communications Service Providers (CSPs). RADCOM's
software - MaveriQ - continuously monitors network performance and
quality of services, to optimize user experience for CSPs'
subscribers. RADCOM specializes in solutions for next-generation
mobile and fixed networks, including LTE, VoLTE, IMS and others.
MaveriQ enables CSPs to smoothly migrate their networks to NFV by
assuring physical, NFV-based and hybrid networks. For more
information, please visit http://www.radcom.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
securities laws. Because such statements deal with future events
and are based on RADCOM's current expectations, they are subject to
various risks and uncertainties and actual results, performance or
achievements of RADCOM could differ materially from those described
in or implied by the statements in this press release. For example,
forward-looking statements include statements regarding RADCOM's
proposed public offering, the amount to be raised, the possible
purchase of additional shares, successful closing of the offering
and planned use of the net proceeds from the offering. The
forward-looking statements contained or implied in this press
release are subject to other risks and uncertainties, including
market conditions and the satisfaction of customary closing
conditions related to the proposed offering, and other risk factors
discussed in RADCOM's preliminary prospectus supplement and in
RADCOM's Annual Report on Form 20-F for the fiscal year ended
December 31, 2015, as amended, filed
with the SEC and in subsequent filings with the SEC. Except as
otherwise required by law, RADCOM disclaims any intention or
obligation to update or revise any forward-looking statements,
which speak only as of the date they were made, whether as a result
of new information, future events or circumstances or
otherwise.
Contact:
Uri Birenberg, CFO
+972-77-774-5060
urib@radcom.com
SOURCE RADCOM Ltd