Mellanox Technologies, Ltd. Announces Pricing of $95 Million Public Offering of Ordinary Shares
SUNNYVALE, Calif. & YOKNEAM, Israel--(BUSINESS WIRE)--
Mellanox® Technologies, Ltd. (NASDAQ:MLNX) (TASE:MLNX), a leading
supplier of end-to-end connectivity solutions for data center servers
and storage systems, today announced the pricing of an underwritten
public offering of 3,000,000 newly issued ordinary shares at a price to
the public of $31.75 per share. Mellanox Technologies also granted the
underwriters a 30-day option to purchase up to an additional 450,000
ordinary shares to cover over-allotments, if any. Mellanox Technologies
anticipates aggregate net proceeds from the offering to be approximately
$90.5 million, assuming no exercise by the underwriters of their
over-allotment option. The offering is expected to close on or about
September 26, 2011, subject to customary closing conditions. J.P. Morgan
Securities LLC, Credit Suisse Securities (USA) LLC and Barclays Capital
Inc. are acting as the book running managers for the offering. Stifel
Nicolaus Weisel is acting as co-manager for the offering.
Mellanox Technologies intends to use the net proceeds from the offering
for general corporate purposes, including working capital and potential
The public offering of the ordinary shares is being made by means of a
prospectus and prospectus supplement pursuant to an automatic universal
shelf registration statement that was filed with the Securities and
Exchange Commission on September 19, 2011 and became effective
immediately upon filing. Copies of the prospectus supplement and base
prospectus relating to this offering may be obtained from J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, Attn: Prospectus
Department, 1155 Long Island Avenue, Edgewood, New York 11717, (866)
808-9204, Credit Suisse Securities (USA) LLC, Prospectus Department, One
Madison Avenue, New York, NY 10010, (800) 221-1037, and Barclays Capital
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Ave.,
Edgewood, NY 11717, (888) 603-5847.
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
Mellanox Technologies is a leading supplier of end-to-end InfiniBand and
Ethernet connectivity solutions and services for servers and storage.
Mellanox products optimize data center performance and deliver
industry-leading bandwidth, scalability, power conservation and
cost-effectiveness while converging multiple legacy network technologies
into one future-proof architecture. The company offers innovative
solutions that address a wide range of markets including HPC,
enterprise, mega warehouse data centers, cloud computing, Internet and
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995:
All statements included or incorporated by reference in this release,
other than statements or characterizations of historical fact, are
forward-looking statements. These forward-looking statements are based
on our current expectations, estimates and projections about our
industry and business, management's beliefs and certain assumptions made
by us, all of which are subject to change.
Forward-looking statements can often be identified by words such as
"projects," "anticipates," "expects," "intends," "plans," "predicts,"
"believes," "seeks," "estimates," "may," "will," "should," "would,"
"could," "potential," "continue," "ongoing," similar expressions and
variations or negatives of these words. These forward-looking statements
are not guarantees of future results and are subject to risks,
uncertainties and assumptions that could cause our actual results to
differ materially and adversely from those expressed in any
More information about the risks, uncertainties and assumptions that may
impact our business is set forth in our form 10-Q filed with the SEC on
August 4, 2011, and our form 10-K filed with the SEC on March 7, 2011.
All forward-looking statements in this press release are based on
information available to us as of the date hereof, and we assume no
obligation to update these forward-looking statements.
Mellanox, BridgeX, ConnectX, CORE-Direct, InfiniBridge, InfiniHost,
InfiniScale, PhyX, Virtual Protocol Interconnect and Voltaire are
registered trademarks of Mellanox Technologies, Ltd. FabricIT, MLNX-OS
and SwitchX are trademarks of Mellanox Technologies, Ltd. All other
trademarks are property of their respective owners.
Mellanox Technologies, Ltd.
Janine Zanelli, 408-916-0012
Gelbart Kahana Investor Relations
Source: Mellanox Technologies, Ltd.
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