AudioCodes falls after pricing 3.5M-share offering

|About: AudioCodes Ltd. (AUDC)|By:, SA News Editor

AudioCodes (AUDC -6%) is selling 3.5M shares at $8, 11% below Tuesday's closing price of $9.02. Underwriters have a 525K-share overallotment option. (PR)

Gross proceeds are set to total $28M. The VoIP hardware/software provider only says it will use the proceeds for "general corporate purposes, which may include, among other things, working capital requirements and future acquisitions."

AudioCodes had $62.2M in cash/investments at the end of 2013, and $14.8M in debt.