RADCOM Ltd. (NASDAQ: RDCM) has priced its previously announced underwritten public offering of 1,818,182 ordinary shares at an offering price of USD11.00 per share, the company said.
Gross proceeds from the offering are expected to be approximately USD20 million, before underwriting discounts and commissions and other offering expenses. In connection with the offering, RADCOM has also granted the underwriters a 30-day option to purchase up to an additional 272,727 ordinary shares. RADCOM´S largest shareholder, Zohar Zisapel, has agreed to purchase 200,000 ordinary shares offered in this offering from the underwriters at the public offering price. The offering is expected to close on or about May 25, 2016, subject to customary closing conditions.
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.
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.