RADCOM Ltd. raised $23.0 million in its follow-on offering at $11.00 per share. Needham acted as the lead manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 272,727 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by RADCOM for general corporate purposes, which may include financing its operations, capital expenditures and business development.
RADCOM (NASDAQ: RDCM) is a first-mover and leading provider of NFV-ready service assurance and customer experience management solutions for Communications Service Providers (CSPs). RADCOM's software - MaveriQ - continuously monitors network performance and quality of services, to optimize user experience for CSPs' subscribers. RADCOM specializes in solutions for next-generation mobile and fixed networks, including LTE, VoLTE, IMS and others. MaveriQ enables CSPs to smoothly migrate their networks to NFV by assuring physical, NFV-based and hybrid networks.