Ceragon Closes Over Allotment Option, Underwriters Spend $5.7M On Shares

August 25, 2014 | The underwriters on the secondary offering for Ceragon Networks spent $5.7 million to increase the proceeds from the offering to $45.1 million for the company. Ceragon is listed on NASDAQ and the Tel Aviv Stock Exchange at a $158 million market cap. The underwriters, Needham and Oppenheimer bought up close up to 2.9 million shares, with each share valued at $2.10. Ceragon, a provider of high-capacity wireless communications solutions, stated that the company needed more money in order to fulfill the orders coming in and to expand the company’s current projects. Ceragon was founded in 1996 and is headquartered in Tel Aviv.