Radcom signs agreements for $2.5 million placement of shares, warrants

By Devika Patel

Knoxville, Tenn., Dec. 19 - Radcom Ltd. plans a $2.5 million private placement of stock and warrants. The deal is subject to obtaining shareholder approval at a meeting slated for Jan. 30.

The company will sell ordinary shares. The exact price will be based on the average closing price of the company's ordinary shares on the 10 trading days prior to the shareholders' meeting.

The investors also will receive warrants to buy one ordinary share for every three ordinary shares bought in the deal.

The company's chairman, Zohar Zisapel, will buy about $1.65 million of the shares.

Tel Aviv, Israel-based Radcom develops, manufactures, markets and supports network test and service monitoring solutions for communications service providers and equipment vendors.

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