William Blair was bookrunner and Needham was lead manager for deal
By Devika Patel
Knoxville, Tenn., May 25 – Radcom Ltd. said the underwriters for its public sale of stock opted to exercise the deal’s $3 million greenshoe in full, lifting total proceeds of the offering to $23 million. The deal was announced May 16 and priced for $20 million with the greenshoe on May 20.
The company sold 2,090,909 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. Of the shares, 272,727 were part of the fully exercised greenshoe.
William Blair & Co., LLC was the bookrunner.
Proceeds will be used for general corporate purposes, which may include financing operations, capital expenditures and business development.
Tel Aviv-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: | $23 million, including $3 million greenshoe of 272,727 shares
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| Shares: | 2,090,909
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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
|
| Market capitalization: | $112.07 million
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