William Blair is the bookrunner and Needham is lead manager for deal
By Devika Patel
Knoxville, Tenn., May 20 – Radcom Ltd. said it priced a $20 million public offering of stock with a $3 million greenshoe. The deal was announced Monday.
The company will sell 1,818,182 ordinary shares at $11.00 apiece. The price per share is a 6.94% discount to the May 19 closing share price of $11.82.
William Blair & Co., LLC is the bookrunner.
Settlement is expected May 25.
Proceeds will be used for general corporate purposes, which may include financing operations, capital expenditures and business development.
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.
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| Issue: | Ordinary shares
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| Amount: | $20 million
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| Greenshoe: | $3 million, or 272,727 shares
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| Shares: | 1,818,182
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| Price: | $11.00
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| Warrants: | No
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| Bookrunners: | William Blair & Co., LLC
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| Lead manager: | Needham & Co., LLC
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| Announcement date: | May 16
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| Pricing date: | May 20
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| Settlement date: | May 25
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| Stock symbol: | Nasdaq: RDCM
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| Stock price: | $11.82 at close May 19
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| Market capitalization: | $99.23 million
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