Reported Earlier, Allot Prices Public Offering Of 5M Ordinary Shares At $8 Each To Raise $40M For Debt Repayment And Corporate Use

Author: Benzinga Newsdesk | June 25, 2025 01:40am

The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be $40.0 million, assuming no exercise of the underwriters' option. The Company expects to use the net proceeds to repay $31.41 million of principal outstanding under the senior unsecured convertible promissory note with a face value of $40.0 million issued by the Company to its largest shareholder, Lynrock Lake Master Fund LP ("Lynrock"), on February 18, 2022 (as amended, the "Lynrock Note"), and the balance for general corporate purposes.

Posted In: ALLT