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Cyren will conduct $12 million at-the-market offering of common stock
Craig-Hallum Capital Group will be the agent and get 3% commission
By Devika Patel
Knoxville, Tenn., May 15 – Cyren Ltd. negotiated a $12 million at-the-market equity sales agreement with Craig-Hallum Capital Group, LLC on May 15, according to an 8-K and prospectus supplement filed Friday with the Securities and Exchange Commission.
The agent will be paid a 3% commission.
Proceeds will be used for general corporate purposes, including research and development, sales and marketing and working capital.
The Herzliya, Israel, company provides messaging, antivirus and web security solutions.
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