Radware Ltd. (Nasdaq: RDWR) announced that it has commenced an initial public offering of 3,500,000 of its ordinary shares at an initial public offering price of $18 per share. Radware intends to use the net proceeds from the offering to expand its sales and marketing activities and to increase its research and development efforts. Radware may also use a portion of the proceeds for acquisitions, strategic alliances or joint ventures.
The shares, all of which were offered by Radware, will be quoted on the Nasdaq National Market under the symbol "RDWR."
Salomon Smith Barney acted as the lead manager for the offering. CIBC World Markets and U.S. Bancorp Piper Jaffray acted as co-managers. A copy of the final prospectus relating to these securities may be obtained from Salomon Smith Barney Inc., Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, New York 11220 (Tel: 718-765-6732); from CIBC World Markets Corp., 200 Liberty Street, 39th Floor, One World Financial Center, New York NY 10281 (Tel: 212-667-7000); or from U.S. Bancorp Piper Jaffray, 222 South Ninth Street, Minneapolis, MN 55402 (Tel: 612-342-6000).
About Radware
Radware develops, manufacturers and markets products that manage and direct Internet traffic among network resources to enable continuous access to Web sites and other services, applications and content based on the Internet protocol. Radware offers a broad range of Internet traffic management solutions to service providers, e-commerce businesses and corporate enterprises that require uninterrupted availability and optimal performance of IP-based applications that are critical to their business. Radware’s Internet traffic management solutions enable its customers to manage their network infrastructure to bypass system failures and to scale their network infrastructure to accommodate increasing IP traffic. Radware’s products improve the productivity of network infrastructure by distributing traffic within a network to optimize the use of available network resources. Radware’s products can be deployed either as independent solutions to address specific application needs at a particular location within a network or as an end-to-end integrated solution to manage traffic throughout a network.
A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. 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 registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, general business conditions in the Internet traffic management industry, changes in demand for Internet traffic management products, the timing and amount or cancellation of orders and other risks detailed from time to time in Radware's filings with the Securities and Exchange Commission, including Radware's Form F-1.