AudioCodes Announces Pricing of Public Offering of Ordinary Shares

AudioCodes Announces Pricing of Public Offering of Ordinary Shares

Mar 05, 2014

Lod, Israel – March 5, 2014 – AudioCodes Ltd. (NasdaqGS: AUDC) today announced the pricing of an underwritten public offering of 3,500,000 of its ordinary shares at a purchase price of $8.00 per share. The gross proceeds to AudioCodes from this offering are expected to be approximately $28 million, before deducting underwriting discounts and other estimated offering expenses. AudioCodes has granted the underwriters a 30-day option to purchase up to an aggregate of 525,000 additional ordinary shares to cover overallotments, if any. All of the shares in the offering are to be sold by AudioCodes. The offering is expected to close on or about March 10, 2014, subject to customary closing conditions.

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.

In connection with the proposed offering, William Blair & Company, L.L.C. and Needham & Company, LLC are acting as joint bookrunning managers. Oppenheimer & Co. Inc. is acting as co-lead manager for the offering.

A shelf registration statement relating to the ordinary shares to be issued in the offering was filed with the Securities and Exchange Commission (SEC) and is effective. 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.

A preliminary prospectus supplement relating to the offering has been filed with the SEC and a final prospectus supplement relating to the offering will be filed with the SEC. When available, 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.

Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the SEC website at http://www.sec.gov.

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