|By PR Newswire||
|July 30, 2014 11:54 AM EDT||
MCLEAN, Va., July 30, 2014 /PRNewswire/ -- CYREN (NASDAQ: CYRN) announced today the closing of a registered direct offering of 4,771,796 shares and warrants to purchase 1,670,128 ordinary shares with certain institutional investors in combinations consisting of one ordinary share and one warrant to purchase 0.35 of an ordinary share at an offering price per fixed combination of $2.41. Each warrant has an exercise price of $3.08 per share and is exercisable following the six-month anniversary of the date of its issuance. CYREN will receive gross proceeds of $11.5 million before deducting placement agent fees and offering expenses (but excluding any proceeds to be received upon exercise of the warrants).
CYREN intends to use the proceeds of the offering for general corporate purposes, including research and development, sales force expansion and working capital.
William Blair & Company, L.L.C. acted as the exclusive placement agent for the offering. The shares and warrants were offered pursuant to a shelf registration statement (including a base prospectus) filed with the Securities and Exchange Commission that became effective on July 3, 2014, together with an accompanying prospectus supplement. Before you invest, you should read the base prospectus in that shelf registration statement and the accompanying prospectus supplement. A copy of the prospectus supplement related to this offering may be obtained by contacting: William Blair & Company, L.L.C., Attention: Prospectus Department, by telephone at (800) 621-0687, or by email at [email protected]. The documents may also be obtained for free from the SEC's EDGAR database available online at www.sec.gov.
This press release 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 the registration or qualification under the securities laws of such state or jurisdiction.
This press release contains forward-looking statements, including projections about our business, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, statements in the future tense, and statements including words such as "expect," "plan," "estimate," "anticipate," or "believe" are forward-looking statements. These statements are based on information available to us at the time of the press release; we assume no obligation to update any of them. The statements in this press release are not guarantees of future performance and actual results could differ materially from our current expectations as a result of numerous factors, including business conditions and growth or deterioration in the internet security market, technological developments, products offered by competitors, availability of qualified staff, and technological difficulties and resource constraints encountered in developing new products, as well as those risks described in the company's Annual Reports on Form 20-F and reports on Form 6-K, which are available through www.sec.gov.
U.S. Investor Contact:
The Blueshirt Group
+1 212 871 3927
Israel Investor Relations Contact:
CYREN Company Contact:
Mike Myshrall, Interim CFO
+1 703 760 3320
CYREN Media Contact:
Zintel Public Relations
+1 281 444 1590
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Dec. 3, 2016 10:45 AM EST Reads: 780
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Dec. 3, 2016 10:45 AM EST Reads: 2,135
Dec. 3, 2016 09:30 AM EST Reads: 3,919
Dec. 3, 2016 09:30 AM EST Reads: 821
Dec. 3, 2016 09:15 AM EST Reads: 693
Dec. 3, 2016 09:00 AM EST Reads: 445
Dec. 3, 2016 08:30 AM EST Reads: 1,354
Dec. 3, 2016 08:30 AM EST Reads: 702
Dec. 3, 2016 08:30 AM EST Reads: 487
Dec. 3, 2016 07:30 AM EST Reads: 709
Dec. 3, 2016 07:00 AM EST Reads: 513
Dec. 3, 2016 06:30 AM EST Reads: 6,003
Dec. 3, 2016 05:45 AM EST Reads: 6,921
Dec. 3, 2016 05:30 AM EST Reads: 1,201
Dec. 3, 2016 04:15 AM EST Reads: 1,719