Oakland, Calif. – May 20, 2019 – DASAN Zhone Solutions, Inc. (NASDAQ: DZSI) (the “Company” or “DZS”) today announced the closing of its previously announced underwritten registered public offering of 4,717,949 shares of its common stock, inclusive of 615,384 shares sold upon full exercise of the underwriters’ option to purchase additional shares of common stock, at a price to the public of $9.75 per share. All shares of common stock were sold by the Company.
The total gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, were approximately $46.0 million. After deducting the underwriters’ discount and other estimated offering expenses payable by the Company, the net proceeds are expected to be approximately $42.6 million.
B. Riley FBR, Inc. and Craig-Hallum Capital Group LLC acted as joint bookrunners for the offering. Northland Securities, Inc. acted as lead manager for the offering. Roth Capital Partners, LLC acted as a financial advisor to the Company.
The offering was made pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-230476) that was declared effective by the Securities and Exchange Commission (“SEC”) on April 11, 2019. The shares were offered only by means of a prospectus. A final prospectus supplement describing the terms of the offering and the accompanying base prospectus were filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. Alternatively, copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from B. Riley FBR, Inc., Attention: Prospectus Department, 1300 17th St. North, Ste. 1300, Arlington, VA 22209, or by email at firstname.lastname@example.org, or by telephone at (800) 846-5050; or from Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350 Minneapolis, MN 55402, or by email at email@example.com, or by telephone at (612) 334-6300.
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 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.
About DASAN Zhone Solutions, Inc.
DASAN Zhone Solutions, Inc. (NASDAQ: DZSI) is a global leader in network access solutions for service provider and enterprise networks. The Company provides a wide array of reliable, cost-effective networking technologies—including broadband access, mobile backhaul, Ethernet switching, Passive Optical LAN, and software-defined networks—to a diverse customer base that includes more than 900 of the world’s most innovative network operators. DASAN Zhone Solutions is headquartered in Oakland, California, with operations in more than 20 countries worldwide.
DASAN Zhone Solutions, the DASAN Zhone Solutions logo, and all DASAN Zhone product names are trademarks of DASAN Zhone Solutions, Inc. Other brand and product names are trademarks of their respective holders. Specifications, products, and/or products names are all subject to change without notice.
|Pei Hung, DZS Investor Relations||DZS Strategic Communications:|
|Tel: +1 510.777.7386||Matt Glover or Najim Mostamand, CFA|
|Fax: +1 510.777.7001||Tel: +1 949.574.3860|
|E: firstname.lastname@example.org||E: email@example.com|