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CYREN Announces Registered Direct Offering of Ordinary Shares and Warrants

Companies mentioned in this article: CYREN

MCLEAN, Va., July 25, 2014 /PRNewswire/ -- CYREN (NASDAQ: CYRN) announced today the pricing of a registered direct offering of 4,771,796 shares and warrants to purchase 1,670,128 ordinary shares with certain institutional investors in combinations consisting of one ordinary share and one warrant to purchase 0.35 of an ordinary share at an offering price per fixed combination of $2.41. CYREN will receive gross proceeds of $11.5 million before deducting placement agent fees and offering expenses.

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William Blair & Company, L.L.C. is acting as the exclusive placement agent for the offering. The offering is expected to close on or about July 30, 2014, subject to customary closing conditions. The shares and warrants are being offered pursuant to a shelf registration statement (including a base prospectus) filed with the Securities and Exchange Commission that became effective on July 3, 2014, together with an accompanying prospectus supplement. Before you invest, you should read the base prospectus in that shelf registration statement and the accompanying prospectus supplement. A copy of the prospectus supplement related to this offering may be obtained by contacting: William Blair & Company, L.L.C., Attention: Prospectus Department, by telephone at (800) 621-0687, or by email at prospectus@williamblair.com. The documents may also be obtained for free from the SEC's EDGAR database available online at www.sec.gov.

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 the registration or qualification under the securities laws of such state or jurisdiction.

This press release contains forward-looking statements, including projections about our business, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, statements in the future tense, and statements including words such as "expect," "plan," "estimate," "anticipate," or "believe" are forward-looking statements. These statements are based on information available to us at the time of the press release; we assume no obligation to update any of them. The statements in this press release are not guarantees of future performance and actual results could differ materially from our current expectations as a result of numerous factors, including business conditions and growth or deterioration in the internet security market, technological developments, products offered by competitors, availability of qualified staff, and technological difficulties and resource constraints encountered in developing new products, as well as those risks described in the company's Annual Reports on Form 20-F and reports on Form 6-K, which are available through www.sec.gov.

U.S. Investor Contact:
Monica Gould

The Blueshirt Group
212 871 3927
monica@blueshirtgroup.com

CYREN Company Contact:
Mike Myshrall, Interim CFO
CYREN
+1 703 760 3320
mike.myshrall@CYREN.com

CYREN Media Contact:
Matthew Zintel
Zintel Public Relations
+1 281 444 1590
matthew.zintel@zintelpr.com

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SOURCE CYREN