Radcom Ltd. (NasdaqCM:RDCM) announced a private placement of common shares for gross proceeds of $3,500,000 on April 29, 2013. The transaction will see participation from new and current investors including Zohar Zisapel, its Chairman with an investment of $1,100,000 through entities controlled by him. The price per share will be based on the average closing price of its ordinary shares on the Nasdaq Capital Market during the 30 trading days prior to the execution date ... of the definitive agreement, less a discount of 12%. The company will also issue warrants to purchase one ordinary share for every three ordinary shares. The exercise price of the warrants will be equal to the purchase price per share to be paid in the transaction plus 25%, and they will be exercisable for a period of three years from the date of issuance. Zohar Zisapel’s investment is subject to a approval in a special meeting of shareholders.
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