By Devika Patel
Knoxville, Tenn., Dec. 19 - Radcom Ltd. said it has obtained approval for a previously announced $2.5 million private placement of stock and warrants.
The company will sell ordinary shares at $0.64 apiece.
The investors also will receive warrants to buy one ordinary share for every three ordinary shares bought in the deal. The warrants are exercisable at $0.80.
The company's chairman, Zohar Zisapel, will buy $1.65 million of the shares.
Tel Aviv, Israel-based Radcom develops, manufactures, markets and supports innovative network test and service monitoring products for communications service providers and equipment vendors.
| Issuer: | Radcom Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | $2.5 million
|
| Price: | $0.64
|
| Warrants: | One for every three shares bought
|
| Warrant strike price: | $0.80
|
| Announcement date: | Dec. 19
|
| Pricing date: | Jan. 30
|
| Stock symbol: | Nasdaq: RDCM
|
| Stock price: | $0.71 at close Jan. 29
|
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