Ikanos Announces Closing of Public Offering of Common Stock

Marketwired

FREMONT, CA--(Marketwired - Nov 14, 2013) - Ikanos Communications, Inc. (NASDAQ: IKAN) today announced the closing of its underwritten public offering of 25,000,000 shares of its common stock at a price to the public of $1.00 per share on November 13, 2013. The net proceeds to the Company from the offering are approximately $22.7 million, after deducting the underwriting discount and estimated offering expenses.

The Company intends to use the net proceeds of the offering for working capital and general corporate purposes and for capital expenditures. In addition, Ikanos may use a portion of the net proceeds for acquisitions of complementary businesses, technologies or other assets.

Needham & Company, LLC acted as the sole book-running manager of the offering. Craig-Hallum Capital Group acted as co-manager.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This offering was made only by means of a prospectus, which may be obtained from Needham & Company, LLC, 445 Park Avenue, New York, NY 10022, by telephone at 800-903-3268, or by email to prospectus@needhamco.com or Craig-Hallum Capital Group, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at 612-334-6300, or by email to jack.mccarthy@craig-hallum.com.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on November 6, 2013.

About Ikanos Communications, Inc.
Ikanos Communications, Inc. (NASDAQ: IKAN) is a leading provider of advanced broadband semiconductor and integrated software products for the digital home. The company's broadband DSL, communications processors and other offerings power access infrastructure and customer premises equipment for many of the world's leading network equipment manufacturers and telecommunications service providers.

© 2013 Ikanos Communications, Inc. All Rights Reserved. Ikanos Communications, Ikanos and the Ikanos logo are trademarks or registered trademarks of Ikanos Communications. All other trademarks are properties of their respective holders.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the intended use of proceeds from the offering. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including market conditions, our ability to maintain adequate cash and short-term investment balances, our ability to comply with the financial covenants in our credit agreement, unexpected future costs and expenses, financing requirements and other risks detailed from time to time in our filings with the SEC. These statements represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. Ikanos undertakes no obligation to update or revise these forward-looking statements to reflect events or circumstances subsequent to date of this press release.

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