Radisys Prices Public Offering Of 5.70 Mln Shares At $3.40 Per Share

(RTTNews) - Radisys Corp. (RSYS) announced the pricing of an underwritten public offering of 5.70 million shares of its common stock at a public offering price per share of $3.40.

Radisys has also granted the underwriters a 30-day option to acquire up to an additional 855,000 shares on the same terms and conditions to cover overallotments resulting from the offering.

Radisys expects to receive net proceeds of approximately $17.92 million, after the underwriting discount and estimated offering expenses, but excluding any exercise of the underwriter's overallotment option.

The offering is expected to close on March 25, 2014, subject to customary closing conditions.Radisys intends to use the net proceeds from the offering for working capital and other general corporate purposes and may also use a portion of the net proceeds to repay debt.