RADVision Raises $76 Mln on NASDAQ

RADVision also raised $11.8 million from German company Siemens and Korean company Samsung.

Despite yesterday's bearish atmosphere on Wall Street, the Zisappel brothers' issue of RADVision was highly successful. The company raised $76 million at a company value of $380 million, after money. RADVision issued 3.8 million new shares at $20 per share - the highest price range set for the offering. In the course of the past week, the price range jumped from $11-13 to $18-20, due to large demand. In line with Wall Street tradition, RADVision's shares are likely to rise substantially today when trading opens today.

RADVision, which develops products enabling real-time voice, video and data communication on IP-based networks, also held a private placement for German company Siemens and Korean concern Samsung, at the same share price - $20 - on which the public offering closed. RADVision issued 2.62 million shares (1.62 for Siemens and 1 million for Samsung), of which 590,000 were new and the rest shares put on sale by RADVision shareholders. RADVision raised $88 million in its private placement for Siemens and Samsung.

RADVision is the sixth company the Zisappel brothers' Rad group has issued, following Lannet (which has become a private company), RIT, Radcom, Silicom, and Radware. Radware is considered the Zisappel's greatest success on the stock exchange, trading at a company value of close to $1 billion.

Co-founder and CEO Ami Amir and deputy CEO and Chief Technology Officer Eli Doron manage RADVision.

Published by Israel's Business Arena on 14 March, 2000

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