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PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN
WHOLE OR IN PART, IN OR INTO THE UNITED STATES/
WATERLOO, ON, Feb. 12, 2014 /CNW/ - Sandvine Corporation, (TSX:SVC)
("Sandvine") a leading provider of intelligent network policy control
solutions for fixed and mobile operators, announced today that it has
completed its previously announced offering of 10,000,000 common shares
of Sandvine (the "Common Shares") at a price of $3.30 per Common Share
(the "Offering") for gross proceeds of approximately $33.0 million.
Sandvine had previously agreed with a syndicate of underwriters led by
Canaccord Genuity Corp. to sell the Common Shares on a bought deal
The net proceeds from the Offering (after deducting the underwriters'
fees and Offering expenses) will be used for working capital purposes.
This news release does not constitute an offer of securities for sale in
the United States. The securities being offered have not been, nor will
they be, registered under the United States Securities Act of 1933, as
amended, and such securities may not be offered or sold within the
United States absent U.S. registration or an applicable exemption from
U.S. registration requirements.
No regulatory authority has approved or disapproved the adequacy or
accuracy of this news release.
Sandvine's network policy control solutions add intelligence to fixed,
mobile and converged communications service provider networks to enable
services that can increase revenue and reduce network costs. Powered by
Sandvine's Policy Engine and SandScript policy language, Sandvine's
networking equipment performs end-to-end policy control functions
including traffic classification, and policy decision and enforcement
across the data, control and business planes. Sandvine's products
provide actionable business insight, the ability to deploy new
subscriber services and tools to optimize traffic while enhancing
subscriber Internet quality of experience.
Sandvine's network policy control solutions are deployed in more than
250 networks in over 90 countries, serving hundreds of millions of data
subscribers worldwide, www.sandvine.com.
This news release may contain "forward-looking information" as defined
in applicable Canadian securities legislation. All statements other
than statements of historical fact, included in this release,
including, without limitation, statements relating to the use of
proceeds from the Offering, constitute forward-looking information that
involve various known and unknown risks, uncertainties, and other
factors outside management's control. Forward-looking information is
based on a number of factors and assumptions which have been used to
develop such information but which may prove to be incorrect including
that the proceeds of the Offering will not be used to fund any
acquisitions in the immediate future. There can be no assurance that
such information will prove to be accurate and actual results and
future events could differ materially from those anticipated in such
forward-looking information. Although Sandvine has attempted to
identify important factors that could cause actual actions, events or
results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or
results not to be as anticipated, estimated or intended.
For additional information with respect to risk factors applicable to
Sandvine, reference should be made to Sandvine's disclosure materials
filed from time to time with securities regulators, including, but not
limited to, Sandvine's Annual Information Form and the final prospectus
with respect to the Offering. The forward-looking information contained
in this release is made as of the date of this release and Sandvine
does not undertake to update publicly or revise the forward-looking
information contained in this release, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws.