William Blair sells units of one share and a warrant for 0.35 of a share
By Devika Patel
Knoxville, Tenn., July 25 – Cyren Ltd. said it plans a registered direct offering of units to raise $11.5 million. William Blair & Co., LLC is the agent.
The company will sell 4,771,796 units of one ordinary share and one warrant for 0.35 of a share at $2.41 per unit, which is a 10.08% discount to the July 24 closing share price of $2.68.
Settlement is expected July 30.
The Herzliya, Israel, company provides messaging, antivirus and web security solutions.
| Issuer: | Cyren Ltd.
|
| Issue: | Units of one ordinary share and one warrant for 0.35 of a share
|
| Amount: | $11.5 million
|
| Units: | 4,771,796
|
| Price: | $2.41
|
| Warrants: | One warrant for 0.35 of a share per unit
|
| Agent: | William Blair & Co., LLC
|
| Pricing date: | July 25
|
| Settlement date: | July 30
|
| Stock symbol: | Nasdaq: CYRN
|
| Stock price: | $2.68 at close July 24
|
| Market capitalization: | $60.86 million
|
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