LanOptics Announces Public Offering of Ordinary Shares
September 18 2007 - 2:30AM
PR Newswire (US)
YOKNEAM, Israel, Sept. 18 /PRNewswire-FirstCall/ -- LanOptics Ltd.
(NASDAQ:LNOP), a provider of network processors, today announced
that it has agreed to issue and sell 1,600,000 of its ordinary
shares to Jefferies & Company, Inc. The offering is expected to
close on September 20, 2007. The shares are being sold by LanOptics
pursuant to an effective shelf registration statement (No.
333-144251) previously filed with the Securities and Exchange
Commission. Jefferies & Company, Inc. is acting as the sole
manager of the offering and proposes to offer the shares initially
at a price to the public of $18.85 per share. LanOptics intends to
use the net proceeds of the offering for general corporate purposes
and to increase its ownership interest in its majority- owned
subsidiary, EZchip Technologies Ltd., including through the
purchase of EZchip ordinary shares issued upon exercise of EZchip
employee stock options. A copy of the prospectus and related
prospectus supplement relating to these securities may be obtained
from Jefferies & Company, Inc., Attention: Equity Capital
Markets, 520 Madison Avenue, New York, New York 10022 (toll- free
telephone number: 1-888-449-2342). This press release does not
constitute an offer to sell or a solicitation of an offer to buy
the securities described herein, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction. This press release contains certain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, which involve known and unknown risks and
uncertainties. Forward-looking information includes statements
regarding LanOptics intended use of proceeds from the offering.
Such risks are discussed in greater detail in filings made by
LanOptics with the Securities and Exchange Commission (the "SEC"),
including its annual report on Form 20-F for the fiscal year ended
December 31, 2006 and subsequent filings with the SEC. Furthermore,
the closing of the offering is subject to several conditions to
closing, which have not yet been satisfied. The forward-looking
statements contained herein should not be regarded as
representations that the projected outcomes can or will be
achieved. About LanOptics LanOptics is focused on its
majority-owned subsidiary, EZchip Technologies Ltd., a fabless
semiconductor company providing high-speed network processors.
EZchip's network processors provide the flexibility and integration
that enable triple-play data, voice and video services in systems
that make up the new Carrier Ethernet networks. Flexibility and
integration make EZchip's solutions ideal for building systems for
a wide range of applications in telecom networks, enterprise
backbones and data centers. For more information on LanOptics and
EZchip, visit the website at http://www.ezchip.com/. DATASOURCE:
LanOptics Ltd. CONTACT: Ehud Helft, +1-646-201-9246, , or Ed Job,
+1-646-213-1914, , both of CCGK Investor Relations Web site:
http://www.ezchip.com/
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