Message #15 From:
NewsBot Date: November 2, 2006 05:00:00 AM
OCNW News Occam Networks Announces Pricing of Follow-On Offering of Common Stock
SANTA BARBARA, Calif.--(BUSINESS WIRE)--Occam Networks Inc. (NASDAQ:OCNW), a supplier of innovative Ethernet and
IP-based loop carrier equipment to telecommunications service providers,
today announced the pricing of its follow-on public offering of
5,250,000 shares of its common stock at a public offering price of
$14.00 per share. Of the 5,250,000 shares, Occam is offering 3,750,000
shares and selling stockholders are offering 1,500,000 shares. The net
proceeds to Occam from the sale of the 3,750,000 shares of common stock
will be approximately $48.3 million after deducting underwriting
discounts and commissions and estimated offering expenses. Occam and
certain selling stockholders, together with certain members of
management, have granted the underwriters a 30-day option to purchase up
to an additional 787,500 shares, solely to cover over-allotments, if
any, of which Occam may sell up to 32,500 additional shares. Occam
expects the offering to close on November 7, 2006, subject to customary
closing conditions.
Thomas Weisel Partners LLC is serving as sole book-running manager and
Jefferies & Company, Inc. is serving as co-lead manager for the
offering. Canaccord Adams Inc. and Merriman Curhan Ford & Co. are
serving as co-managers.
This offering of the shares of common stock may be made only by means of
a prospectus, a copy of which can be obtained from the offices of Thomas
Weisel Partners LLC at 1-800-933-3445 or by visiting the SEC’s
website at www.sec.gov. This
communication 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.
Occam Networks' broadband loop carrier (BLC) solutions enable
telecommunications and other service providers to offer innovative
voice, broadband, IPTV and full Triple Play services over copper or
fiber. Occam solutions give telco service providers flexibility and
scalability to expand their offerings, with simplicity of service
deployment. Occam's BLC products and services are currently deployed at
over 180 service providers in North America. For more information,
please visit www.occamnetworks.com.
Occam Networks is a registered trademark of Occam Networks Inc. in the
United States and/or other countries. All other trademarks mentioned are
the property of their respective owners.
