Occam Raises $48MOccam Raises $48M

Occam Networks announced the closing of its follow-on public offering of 5,250,000 shares of its common stock

November 7, 2006

1 Min Read

SANTA BARBARA, Calif. -- Occam Networks, Inc. (NASDAQ:OCNW), a supplier of innovative Ethernet and IP-based loop carrier equipment to telecommunications service providers, today announced the closing of its follow-on public offering of 5,250,000 shares of its common stock at a public offering price of $14.00 per share. Of the 5,250,000 shares, Occam sold 3,750,000 shares and selling stockholders sold 1,500,000 shares. The net proceeds to Occam from the sale of the 3,750,000 shares of common stock was approximately $48.3 million after deducting underwriting discounts and commissions and estimated offering expenses. Certain selling stockholders, together with certain members of management, have granted the underwriters a 30-day option to purchase up to an additional 755,000 shares, and Occam has granted the underwriters a 30-day option to purchase up to an additional 32,500 shares, in each case solely to cover over-allotments, if any.

Thomas Weisel Partners LLC acted as sole book-running manager for the offering, Jefferies & Company acted as co-lead manager for the offering, and Canaccord Adams and Merriman Curhan Ford & Co. acted as co-managers for the offering.

This communication 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.

Occam Networks Inc. (Nasdaq: OCNW)

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