This will double the float:
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October 05, 1999 19:14
AudioCodes Files Registration Statement for Stock Offering
NEW YORK--(BUSINESS WIRE)--Oct. 5, 1999--AudioCodes Ltd. (NASDAQ: AUDC) today announced that it has filed with the Securities and Exchange Commission a registration statement relating to a proposed offering of 3,000,000 ordinary shares. Of the ordinary shares offered, 1,500,000 will be issued and sold by AudioCodes Ltd., and 1,500,000 will be sold by existing shareholders. In addition, certain selling shareholders have agreed to grant the underwriters an option to purchase 450,000 additional ordinary shares to cover over-allotments, if any, in the sale of the ordinary shares.
The offering will be managed by CIBC World Markets Corp., Warburg Dillon Read LLC, BancBoston Roberston Stephens Inc. and U.S. Bancorp Piper Jaffray Inc.
A registration statement relating to these securities has been filed with the United States Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the intended registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any jurisdiction. These securities will be offered only by means of a prospectus. Copies of the preliminary prospectus may be obtained, when available, from CIBC World Markets, 200 Liberty Street, New York, NY 10281.
About AudioCodes
AudioCodes Ltd. designs, develops and markets enabling technologies and products for voice over packet networks. AudioCodes' product line includes a variety of signal processor chips, VoIP communication boards, communications software and custom modules for OEM customers. The Company's headquarters and R&D facilities are in Yehud, Israel with sales and marketing offices in San Jose, California.
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