AudioCodes Announces Proposed Public Offering of Ordinary Shares

AudioCodes Announces Proposed Public Offering of Ordinary Shares

Mar 04, 2014

Lod, Israel – March 4, 2014 – AudioCodes Ltd. (NasdaqGS: AUDC) today announced that it intends to offer and sell, subject to market and other conditions, ordinary shares in an underwritten public offering pursuant to an effective shelf registration statement. All of the shares in the proposed offering are to be sold by AudioCodes. AudioCodes expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the ordinary shares offered in the public offering solely to cover overallotments, if any.

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-manager for the offering.

The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

A shelf registration statement relating to the ordinary shares to be issued in the proposed 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 and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC. When available, copies of the preliminary prospectus supplement and accompanying prospectus 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 preliminary prospectus supplement and accompanying prospectus will also be available on the SEC website at http://www.sec.gov.

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