AudioCodes files for $100m Nasdaq secondary offering

Israeli tech company AudioCodes Ltd. (Nasdaq: AUDC; TASE: AUDC) has filed to raise $100 million in a secondary offering on Wall Street.

AudioCodes, which provides voice networking and media processing solutions for the digital workplace, hopes to take advantage of its recent positive momentum, which has seen its share price at a 20-year high. The share prices has risen 49% this year after rising 160% last year but fell 0.76% on Nasdaq yesterday to $37.81, giving a market cap of $1.104 billion.

The company, founded by CEO Shabtai Adlersberg, has also been boosted by the Covid-19 crisis and the shift to remote working. AudioCodes has a collaborative agreement with Microsoft and recently signed a cooperation agreement with Google. […]

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