Ceragon Networks Ltd. Announces Pricing of Follow-on Offering
TEL AVIV, Israel, November 8, 2007 - Ceragon Networks Ltd. (NASDAQ and TASE: CRNT), a leading provider of high capacity wireless backhaul solutions, announced today the pricing of its follow-on offering of 6,600,000 ordinary shares at US$13.50 per share, with expected net proceeds to Ceragon of US$75.7 million, after deducting underwriting discounts and commissions and estimated offering expenses. Ceragon is offering 6,000,000 ordinary shares and a selling shareholder is offering the remaining 600,000 ordinary shares. Ceragon will not receive any proceeds from the sale of ordinary shares by the selling shareholder. Ceragon has granted the underwriters a 30-day option to purchase up to an additional 990,000 shares at the follow-on offering price. The offering is expected to close on November 14, 2007, subject to customary closing conditions.
Banc of America Securities LLC and Lehman Brothers are the joint book-running managers for the offering. CIBC World Markets and Jefferies & Company are co-managers.
