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Allot Announces $40 Million Financing

Feb 15, 2022•over 3 years ago

Amount Raised

$40 Million

Description

Allot Ltd. (NASDAQ: ALLT) (TASE: ALLT) (the "Company"), a leading global provider of innovative security solutions and network intelligence for enterprise and mobile, fixed, and cloud service providers, announced today that it had entered into a $40 million private financing with Lynrock Lake Master Fund LP, a fund managed by Lynrock Lake LP ("Lynrock Lake"), an investment management firm with approximately $1.3 billion of assets under management. The financing consists of $40 million principal amount of a convertible promissory note (the "Note"). The financing is expected to close on February 17, 2022.

Company Information

Company

Allot

About

Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a leading provider of innovative network intelligence and security solutions for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more. Allot's multi-service platforms are deployed by over 500 mobile, fixed and cloud service providers and over 1,000 enterprises. Our industry-leading network-based security-as-a-service solution has achieved over 50% penetration with some service providers and is already used by over 20 million subscribers globally. Seth GreenbergAllot Director of Corporate Communications+972-54-922-2294 sgreenberg@allot.com Ehud Helft / Kenny GreenAllot Investor Relations+1-646-688-3559 Allot@gkir.com Logo: https://mma.prnewswire.com/media/703889/Allot_Logo.jpg SOURCE Allot Ltd.

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