Cyren to conduct $10 million public offering of ordinary stock

Managing underwriter Craig-Hallum raising funds for corporate purposes

By Devika Patel

Knoxville, Tenn., Aug. 6 – Cyren Ltd. said it will sell $10 million of its ordinary stock in a public offering with a 15% greenshoe.

Craig-Hallum Capital Group LLC is the managing underwriter.

Proceeds will be used for general corporate purposes, including research and development, sales and marketing and working capital.

The company also said it has terminated its previously announced at-the-market offering with Craig-Hallum Capital Group. The company did not sell any shares through the offering, which was negotiated on May 15.

The Herzliya, Israel, company provides messaging, antivirus and web security solutions.

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