AudioCodes Announces Closing of Public Offering of Ordinary Shares

AudioCodes Announces Closing of Public Offering of Ordinary Shares

Mar 11, 2014

Lod, Israel – March 11, 2014 – AudioCodes Ltd. (NasdaqGS: AUDC) today announced the closing of its previously announced public offering of 4,025,000 of its ordinary shares, including 525,000 shares sold pursuant to the underwriters’ full exercise of their over-allotment option, at a purchase price of $8.00 per share. AudioCodes’ net proceeds from this offering are expected to be approximately $29.7 million, after deducting underwriting discounts, commissions and other estimated offering expenses.

William Blair & Company, L.L.C. and Needham & Company, LLC acted as joint bookrunning managers in the offering, and Oppenheimer & Co. Inc. acted as co-lead manager for the offering.

AudioCodes intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, working capital requirements and future acquisitions.

A shelf registration statement relating to the public offering of the ordinary shares was filed with the Securities and Exchange Commission (SEC) and is effective, and a final prospectus supplement relating to the offering have been filed with the SEC and is available on the SEC’s website at: http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting William Blair & Company, L.L.C. at 222 West Adams Street, Chicago, IL 60606, Attention: Prospectus Department, by telephone at (800) 621-0687, or by email at prospectus@williamblair.com.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

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