AudioCodes Plans Stock Offering

(RTTNews) - AudioCodes Ltd. (AUDC) said Tuesday that it plans to offer and sell ordinary shares in an underwritten public offering pursuant to an effective shelf registration statement.

The company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the ordinary shares offered in the public offering solely to cover overallotments, if any.

AudioCodes said it plans to use the net proceeds of the offering for general corporate purposes, which may include, among other things, working capital requirements and future acquisitions.

The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering, the company said.