Zohar Zisapel, Radcom's Chairman and largest shareholder, expands shareholding through exercise of warrants

Published November 30th, 2009 - 02:28 GMT

RADCOM Ltd. ("RADCOM" or
the "Company") (NASDAQ: RDCM), a
leading network test and service assurance solutions provider, today
announced that Mr. Zohar Zisapel, its Chairman and largest shareholder,
exercised this week warrants to purchase 20,313 ordinary shares of the
Company at an exercise price of $3.20 per share for an aggregate purchase
price of $65,000 (the "Warrant Exercise"). As a result, Mr. Zisapel now holds
1,607,569 RADCOM shares (excluding warrants and options), representing
approximately 31.6% of the Company's issued share capital.
  
    On November 9, 2009, the Company received a Nasdaq Staff
deficiency letter (the "Nasdaq Letter") indicating that RADCOM, as of
September 30, 2009 fell short by $63,000 from complying with the minimum
$2,500,000 shareholders' equity requirement for continued listing on The
Nasdaq Capital Market. To the Company's best good faith estimate, following
the Warrant Exercise, its shareholders' equity as of the date hereof is above
$2,500,000.

 

    The Company was informed by the Nasdaq Staff that it will
continue to monitor its ongoing compliance with the said minimum
shareholders' equity requirement.


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