Meru Networks Announces Proposed Public Offering of Common Stock
Meru Networks (NASDAQ: MERU) today announced that it commenced a public offering of its common stock. Meru expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering solely to cover overallotments, if any. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. William Blair & Company, L.L.C. is acting as the sole underwriter.
The offering is being made to purchasers pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission, or SEC. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC. When available, copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting William Blair & Company, L.L.C. at 222 West Adams Street, Chicago, IL 60606, Attention: Prospectus Department, by telephone at (800) 621-0687 or by email at firstname.lastname@example.org. Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of common stock of Meru Networks, 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 state or jurisdiction.
About Meru Networks
Meru Networks (NASDAQ: MERU) designs, develops, and distributes virtualized wireless LAN solutions that provide enterprises with the performance, reliability, predictability and operational simplicity of a wired network with the advantages of mobility. Meru Networks eliminates the deficiencies of multichannel, client-controlled architectures with its innovative, single-channel, virtualized network architecture that easily handles device density and diversity. Meru's wireless LAN solutions are deployed in major vertical industries, including Fortune 500 businesses, education, hospitality, healthcare and retail supply chain. Founded in 2002, Meru is headquartered in Sunnyvale, Calif., with operations in North America, Europe, the Middle East and Asia Pacific. Visit www.merunetworks.com or call (408) 215-5300 for more information.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, Meru's intention to conduct a public offering of common stock. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including, among others, the ability to manage successfully and complete the public offering, the general economic and/or market conditions and the factors set forth in the Meru Network's filings with the SEC, including Meru Network's Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 and the preliminary prospectus supplement related to this public offering. Meru Networks undertakes no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.