Security software co Allot drops after stock offering launch

Allot

24/06/2025 22:10

**  U.S.-listed shares of Allot Ltd ALLT.O down 9.1% after hours to $8.74 on planned equity raise

** Israeli network intelligence and security solutions providerlaunches stock offering

** Co expects to use net offering proceeds to repay $31.41 mln of outstanding convertible note with face value of $40 mln issued to its largest shareholder, Lynrock Lake Master Fund

** Balance of proceeds for general purposes, co says

** TD Cowen and William Blair jt bookrunners for offering

** Allot has ~39.7 mln shares outstanding for roughly $380 mln market cap, and Lynrock owns about 9 mln shares for 22% stake, per LSEG data

** ALLT shares on Tues closed up 2.7% at $9.61

** Stock has risen 68% this qtr. A year ago, it closed at $2.22

 (Lance Tupper is a Reuters market analyst. The views expressed are his own)

 ((lance.tupper@tr.com 1-646-279-6380))