MCLEAN, Va., Aug. 17, 2015 /PRNewswire/ -- CYREN (NASDAQ:
CYRN) today announced that it has closed its previously announced
upsized registered underwritten public offering of 7,666,665
ordinary shares at a price to the public of $1.65 per share, which includes the full exercise
of the underwriter's overallotment option of 999,999 ordinary
shares.
CYREN estimates net proceeds from the offering to be
approximately $11.5 million, after
deducting underwriting discounts and estimated offering
expenses. CYREN intends to use the net proceeds from the
offering for general corporate purposes, including research and
development, sales and marketing and working capital.
Craig-Hallum Capital Group LLC acted as sole managing
underwriter for the offering.
The shares are being offered pursuant to an effective shelf
registration statement on Form F-3 that was previously filed with
the Securities and Exchange Commission (SEC). The securities may be
offered only by means of a prospectus and related prospectus
supplement. The prospectus and a prospectus supplement related to
the offering have been filed with the SEC and are available on the
SEC's website located at http://www.sec.gov and may also be
obtained from Craig-Hallum Capital Group, 222 South Ninth Street,
Suite 350, Minneapolis, MN 55402,
telephone 612-334-6300, email: prospectus@chlm.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor may there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About CYREN
Founded in 1991, CYREN (NASDAQ and TASE: CYRN) is a long-time
innovator in cyber intelligence, offering next generation Security
as a Service solutions to enterprises and powering the security
solutions of more than 200 of the world's largest IT and security
technology providers. Providing detection of cyber attacks for many
of the largest networks, CYREN maintains the broadest and deepest
real-time Internet threat database in the world. Every day, CYREN
collects and analyzes 17 billion pieces of threat data to protect
600 million global users. Threat data is gathered and cyber
intelligence disseminated through 500,000 global points of presence
in 200 countries. Visit www.cyren.com.
Blog: blog.cyren.com
Facebook: www.facebook.com/CyrenWeb
LinkedIn: www.linkedin.com/company/cyren
Twitter: twitter.com/CyrenInc
To download CYREN's investor relations app please visit Apple's
App Store for the iPhone and iPad or Google Play for Android mobile
devices.
This press release may contain 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 presentation; we assume no obligation to
update any of them. The statements in this presentation 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 market, commerce and the general economy, both
domestic as well as international; fewer than expected new-partner
relationships; competitive factors, including pricing pressures;
technological developments, and products offered by competitors;
the ability of our OEM partners to successfully penetrate markets
with products integrated with CYREN technology; a slower than
expected acceptance rate for our newer product offerings;
availability of qualified staff; and technological difficulties and
resource constraints encountered in developing new products,
as well as those risks described in the text of this presentation
and 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
KCSA
Strategic Communications
Garth
Russell
+1 212 896
1250
grussell@kcsa.com
Israel Investor Contact
Iris Lubitch
SmarTeam
+972
54 2528007
iris@smartteam.co.il
Company Contact
Mike
Myshrall,CFO
CYREN
+1 703 760
3320
mike.myshrall@cyren.com
Media Contact
Matthew Zintel
Zintel Public
Relations
+1 281 444
1590
matthew.zintel@zintelpr.com
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SOURCE CYREN