Ceragon to Raise $76M

Ceragon Networks announces pricing of follow-on offering

November 8, 2007

1 Min Read

TEL AVIV -- Ceragon Networks Ltd. (NASDAQ and TASE: CRNT), a leading provider of high capacity wireless backhaul solutions, announced today the pricing of its follow-on offering of 6,600,000 ordinary shares at US$13.50 per share, with expected net proceeds to Ceragon of US$75.7 million, after deducting underwriting discounts and commissions and estimated offering expenses. Ceragon is offering 6,000,000 ordinary shares and a selling shareholder is offering the remaining 600,000 ordinary shares. Ceragon will not receive any proceeds from the sale of ordinary shares by the selling shareholder. Ceragon has granted the underwriters a 30-day option to purchase up to an additional 990,000 shares at the follow-on offering price.

The offering is expected to close on November 14, 2007, subject to customary closing conditions. Banc of America Securities LLC and Lehman Brothers are the joint book-running managers for the offering. CIBC World Markets and Jefferies & Company are co-managers.

A copy of the final prospectus relating to the offering may be obtained from Banc of America Securities LLC, Capital Markets Operations (Prospectus Fulfillment), 100 West 33rd Street, New York, NY 10001, telephone: +1-800-294-1322, e-mail [email protected], or Lehman Brothers Inc., c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717, fax: +1-631-254-7140, e-mail [email protected].

A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. This press release 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 jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Ceragon Networks Ltd. (Nasdaq: CRNT)

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