Bethel Finances: Allot raising $78.4m in secondary Nasdaq offering

www.bethelfinance.com

Allot Communications Ltd. (Nasdaq:ALLT; TASE: ALLT) is raising a gross $78.4 million in its secondary offering on Nasdaq. The company priced the offering of 5,500,000 shares at $14.25 per share.

If the underwriters exercise their over-allotment option to buy up to 825,000 additional shares in full, the amount raised will increase by $11.8 million.

Allot said that it will use the net proceeds for general corporate purposes, including working capital and potential acquisitions.

Allot's share price fell 5% on Nasdaq yesterday to $14.53, giving a market cap of $351 million, and fell 0.5% by mid-afternoon on the TASE today to NIS 52.22.