Bookrunners William Blair, Needham, co-lead manager Oppenheimer assist
By Devika Patel
Knoxville, Tenn., March 5 - AudioCodes Ltd. said it priced a $28 million public offering of its stock with a $4.2 million greenshoe.
The company will sell 3.5 million ordinary shares at $8.00 per share. The price per share is an 11.31% discount to the March 4 closing share price of $9.02.
William Blair & Co., LLC and Needham & Co., LLC are the joint bookrunning managers.
Settlement is expected March 10.
Proceeds will be used for general corporate purposes, which may include working capital requirements and future acquisitions.
AudioCodes provides voice-over-internet protocol technologies and voice network products and is based in Lod, Israel.
| Issuer: | AudioCodes Ltd.
|
| Issue: | Ordinary stock
|
| Amount: | $28 million
|
| Greenshoe: | $4.2 million
|
| Shares: | 3.5 million
|
| Price: | $8.00
|
| Warrants: | No
|
| Bookrunners: | William Blair & Co., LLC and Needham & Co., LLC
|
| Co-lead manager: | Oppenheimer & Co. Inc.
|
| Pricing date: | March 5
|
| Settlement date: | March 10
|
| Stock symbol: | Nasdaq: AUDC
|
| Stock price: | $9.02 at close March 4
|
| Market capitalization: | $326.96 million
|
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