The company will use the proceeds for working capital and future acquisitions.
AudioCodes Ltd. (Nasdaq: AUDC; TASE: AUDC) has closed its secondary offering on Nasdaq, raising a net $29.7 million. The company offered 4,025,000 shares, including 525,000 shares through the underwriters' full exercise of their over-allotment option, at $8.00 per share.
AudioCodes intends to use the net proceeds for general corporate purposes, which may include working capital and future acquisitions
William Blair & Company LLC, Needham & Company LLC, and Oppenheimer & Co. Inc. were the underwriters.
Published by Globes [online], Israel business news - www.globes-online.com - on March 12, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014
Shiri Habib-Valdhorn and Ron Steinblatt