Cyren will conduct $12 million at-the-market offering of common stock

Craig-Hallum Capital Group will be the agent and get 3% commission

By Devika Patel

Knoxville, Tenn., May 15 – Cyren Ltd. negotiated a $12 million at-the-market equity sales agreement with Craig-Hallum Capital Group, LLC on May 15, according to an 8-K and prospectus supplement filed Friday with the Securities and Exchange Commission.

The agent will be paid a 3% commission.

Proceeds will be used for general corporate purposes, including research and development, sales and marketing and working capital.

The Herzliya, Israel, company provides messaging, antivirus and web security solutions.

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