Message #16 From:
NewsBot Date: November 7, 2006 01:05:00 PM
OCNW News Occam Networks Announces Closing 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 closing 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 sold 3,750,000 shares
and selling stockholders sold 1,500,000 shares. The net proceeds to
Occam from the sale of the 3,750,000 shares of common stock was
approximately $48.3 million after deducting underwriting discounts and
commissions and estimated offering expenses. Certain selling
stockholders, together with certain members of management, have granted
the underwriters a 30-day option to purchase up to an additional 755,000
shares, and Occam has granted the underwriters a 30-day option to
purchase up to an additional 32,500 shares, in each case solely to cover
over-allotments, if any.
Thomas Weisel Partners LLC acted as sole book-running manager for the
offering, Jefferies & Company acted as co-lead manager for the offering,
and Canaccord Adams and Merriman Curhan Ford & Co. acted as co-managers
for the offering.
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.
About Occam Networks, Inc.
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.
Portions of this press release may contain forward-looking statements
regarding future events or the future performance of Occam Networks,
including statements predicting increased adoption of products and
technologies offered by Occam. Forward-looking statements involve risks
and uncertainties, which could cause actual results to differ materially
from any future performance suggested in such statements. Rapidly
changing technologies and market conditions may require changes to Occam’s
products. Occam does not undertake any obligation to publicly update any
forward-looking statements as a result of new information, future events
or otherwise. Please also refer to the company’s
most recent quarterly report on Form 10-Q, annual report on Form 10-K
and other filings with the SEC. These filings contain and identify other
important factors that could cause actual results to differ materially
from those contained in any forward-looking statements.
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.
