DZS Inc. (DZSI) Prices 4M Share Common Offering at $14/Sh

January 27, 2021 5:57 AM EST

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DZS Inc. (NASDAQ: DZSI) today announced that it has priced its underwritten registered public offering of 4,000,000 shares of its common stock at a price to the public of $14.00 per share. The Company has granted the underwriters a 30-day option to purchase at the public offering price, less the underwriting discount, up to an additional 600,000 shares of common stock. All shares of common stock to be sold in the offering will be offered by the Company. The offering is expected to close on or about January 29, 2021.

The total gross proceeds from the offering are expected to be approximately $56 million. This amount assumes no exercise of the underwriters’ option to purchase additional shares. The Company intends to use the net proceeds from the offering to repay outstanding borrowings under loans to DASAN Networks, Inc. and for general corporate purposes, which may include funding acquisitions.

Stifel, Needham & Company and B. Riley Securities are acting as joint book-running managers for the offering. Craig-Hallum Capital Group and Northland Capital Markets are acting as co-managers for the offering.

The offering is being 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 may be offered only by means of a prospectus.



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