Veraz Networks, Inc. Prices Initial Public Offering of Common Stock
SAN JOSE, Calif., April 4 – Veraz Networks, Inc. (NASDAQ: VRAZ) today announced the pricing of its initial public offering of 9,000,000 shares of its common stock at a price to the public of $8.00 per share. Of the shares sold in the offering, 6,750,000 were offered by Veraz and 2,250,000 were offered by ECI Telecom Ltd. The underwriters have been granted a 30-day option to purchase up to an additional 1,012,500 shares of common stock by Veraz and up to an additional 337,500 shares by ECI at the initial public offering price to cover over-allotments, if any. Veraz Networks will trade on the Nasdaq Global Market under the symbol "VRAZ".
The offering was made through an underwriting syndicate let by Credit Suisse Securities (USA) LLC and Lehman Brothers Inc. who acted as joint book-running managers. Jefferies & Company and Raymond James & Associates, Inc. acted as co-managers for the offering. Copies of the final prospectus relating to the offering may be obtained by contacting Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010; tel: 1-800-221-1037 or Lehman Brothers, Inc., c/o ADP Financial Services, Prospectus Fulfillment, 1155 Long Island Avenue Edgewood, NY 11717; fax 1-631-254-7268.
A registration statement relating to these securities was declared effective on April 4, 2007. This press release shall not constitute an offer to sell or 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.
VRAZ-IR
Investor Relations Contact: The Blueshirt Group Cynthia Hiponia 415-217-4966 cynthia@blueshirtgroup.com
Source: Veraz Networks, Inc.
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