November 6, 2017 / 11:09 PM / 2 years ago

BRIEF-Cyren announces strategic investment from Warburg Pincus Funds

Nov 6 (Reuters) - Cyren Ltd:

* Cyren announces strategic investment from warburg pincus funds

* Cyren Ltd - ‍warburg Pincus Funds to commence tender offer​

* Cyren Ltd - ‍as a result of investment, warburg pincus owns about 21.3pct of co’s outstanding shares

* Cyren - ‍an entity controlled by funds affiliated with Warburg Pincus acquired from co about 10.6 million shares for $1.85 per share​

* Cyren Ltd - ‍warburg Pincus will offer to purchase up to about 31.5 million shares at $2.50 per share in cash​

* Cyren Ltd - ‍warburg Pincus announced intention to commence special tender offer to increase ownership in co, up to maximum of 75pct of cyren’s shares​

* Cyren Ltd - ‍in connection with private placement, Warburg Pincus will be entitled to designate two directors to Cyren’s board​

* Cyren- board resolved to recommend in favor of shareholders tendering shares in offer, subject to terms of purchase deal between co,Warburg Pincus​

* Cyren Ltd - ‍warburg Pincus will also have opportunity to nominate additional board members to Cyren’s board​ Source text for Eikon: Further company coverage:

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