AudioCodes Ltd. (AUDC) Prices 2.6M Share Common Offering at $35/Sh

AudioCodes (NASDAQ: AUDC) today announced the pricing of an underwritten public offering of 2,600,000 ordinary shares pursuant to a registration statement on Form F-3 filed with the Securities and Exchange Commission ("SEC"), at a price to the public of $35.00 per share. AudioCodes has granted the underwriters a 30-day option to purchase up to an additional 390,000 ordinary shares. The offering is expected to close on June 9, 2020, subject to customary closing conditions.

AudioCodes intends to use the proceeds from the offering for general corporate purposes, including, among other things, working capital requirements and possible future acquisitions. AudioCodes has no agreements or understandings with respect to any acquisition or investment at this time.

BofA Securities and Citigroup are acting as lead bookrunners and representatives of the underwriters for this offering. Barclays Capital Inc. and Jefferies LLC are also acting as bookrunners and Needham & Company, LLC is acting as co-manager in the offering.

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