Occam Completes Reverse Split

Occam Networks completes one-for-forty reverse split of its common stock; begins trading under new OTCBB symbol: OCNW

March 13, 2006

1 Min Read

SANTA BARBARA, Calif. -- Occam Networks(R) Inc. (OTCBB: OCNW), a supplier of innovative Ethernet- and IP-based loop carrier equipment to telecommunications companies, today announced that the one-for-forty reverse split of its common stock announced on Feb. 23, 2006, became effective at 5 p.m. Eastern Standard Time on March 10, 2006. Occam stock began trading on the NASD Electronic Bulletin Board (OTCBB) on a split-adjusted basis on Monday, March 13, 2006, under a new symbol: OCNW.OB.

As a result of the reverse split, the conversion ratio of the company's Series A-2 preferred stock has been proportionately adjusted, which will decrease the number of shares of common stock issuable upon conversion of each share of Series A-2 preferred stock from approximately 90.9 shares of common stock to approximately 2.27 shares of common stock.

Additional information about the reverse stock split is available in Occam's definitive proxy statement filed with the Securities and Exchange Commission on May 24, 2005.

Occam Networks Inc. (Nasdaq: OCNW)

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