DZS Inc. (DZSI) Launches 3.37M Share Offering

DZS Inc. (NASDAQ: DZSI) today announced the launch of an underwritten registered public offering of 2,507,750 shares of its common stock by the Company and 869,565 shares of DZS common stock by DASAN Networks, Inc. (the “selling stockholder”). The Company and the selling stockholder expect to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of the common stock sold by the Company and the selling stockholder in the proposed offering. The proposed offering is subject to market and other 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. The Company intends to use the net proceeds from the offering, if completed, for general corporate purposes, which may include research and development, sales and marketing initiatives, and the funding of working capital. The Company will not receive any of the proceeds from the sale of the shares of common stock by the selling stockholder.

Cowen and Stifel are acting as joint book-running managers for the offering.

The proposed offering is being made pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-262634) that was declared effective by the Securities and Exchange Commission (“SEC”) on May 11, 2022. The shares may be offered only by means of a prospectus. A preliminary prospectus supplement describing the terms of the proposed offering and the accompanying base prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus relating to the proposed offering, when available, may be obtained from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attention: Prospectus Department, by telephone at (833) 297-2926, or by email at [email protected]; or from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by telephone at 415-364-2720 or by email at [email protected]. The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC.

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 state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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