DASAN Zhone Solutions Announces Launch of Public Offering of Common Stock

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OAKLAND, Calif., May 15, 2019 (GLOBE NEWSWIRE) -- DASAN Zhone Solutions, Inc. (NASDAQ: DZSI) (the “Company” or “DZS”) today announced the launch of an underwritten registered public offering of shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock sold in the proposed offering. All shares of common stock to be sold in the proposed offering will be offered by the Company. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.  The Company intends to use the net proceeds from the offering, if completed, for general corporate purposes, which may include research and development, the development of the Company’s products, sales and marketing initiatives, expansion of the Company’s U.S. and global commercial organizations, general administrative expenses, working capital and capital expenditures.

B. Riley FBR, Inc. and Craig-Hallum Capital Group LLC are acting as joint bookrunners for the offering. Northland Securities, Inc. is acting as lead manager for the offering.

The proposed 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. A preliminary prospectus supplement describing the terms of the proposed offering  and the accompanying base prospectus will be filed with the SEC and will be available on the SEC’s website located at . Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus relating to the proposed offering, when available, may be obtained from B. Riley FBR, Inc., Attention: Prospectus Department, 1300 17th St. North, Ste. 1300, Arlington, VA 22209, or by email at , or by telephone at (800) 846-5050; or from Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350 Minneapolis, MN 55402, or by email at prospectus@chlm.com, or by telephone at (612) 334-6300. The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC.

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

DASAN Zhone Solutions, the DASAN Zhone Solutions logo, and all DASAN Zhone product names are trademarks of DASAN Zhone Solutions, Inc. Other brand and product names are trademarks of their respective holders. Specifications, products, and/or products names are all subject to change without notice.

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Globe Newswire: 21:22 GMT Wednesday 15th May 2019

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