Ceragon Networks Ltd Stock Price, News & Analysis

Ceragon Networks Ltd. (NASDAQ: CRNT) announced that Yael Langer will resign from the Board effective after the 2022 Annual General Meeting (AGM) on October 3, 2022. Efrat Makov has been nominated to replace her, continuing the company's efforts to refresh the Board. If elected, Makov will serve the remainder of Langer's term until 2024. The Board, having added four independent directors since July 2021, aims to drive profitable growth and enhance shareholder value through strategic initiatives. Ceragon is focused on advancing its position in the 5G wireless transport market.

Ceragon Networks Ltd. (NASDAQ: CRNT) announced that shareholders overwhelmingly rejected all proposals from Aviat Networks, Inc. (NASDAQ: AVNW) during the 2022 Extraordinary General Meeting (EGM). Approximately 80% of shares voted against all of Aviat's proposals, with support for Aviat's director nominees falling below 15% of total shares outstanding. Ceragon's Board expressed confidence in its strategy and business momentum, indicating that Aviat's offers significantly undervalued the company. Ceragon remains open to transactions that provide fair value to its shareholders.

On August 19, 2022, Ceragon Networks Ltd. (NASDAQ: CRNT) announced that Egan-Jones and Institutional Shareholder Services (ISS) both advised shareholders to vote AGAINST all proposals put forth by Aviat Networks. Egan-Jones highlighted that Aviat's indication of interest is a low-ball offer and undervalues Ceragon, with concerns about Aviat's financing capabilities. The firm praised Ceragon's Board for its qualifications, asserting that the proposed resolution is not in the best interests of shareholders. Ceragon urges voters to use the WHITE proxy card to reject these proposals.

Ceragon Networks (NASDAQ: CRNT) urges shareholders to vote against Aviat Networks' control attempt at the upcoming Extraordinary General Meeting (EGM) on August 23, 2022. Shareholders must submit their votes by 4:00 pm Israel time on August 22. Ceragon's Board believes Aviat's proposal undervalues the company, lacking financing certainty, as noted by Institutional Shareholder Services. The company reported strong second-quarter metrics, including 25% market share and $179 million in bookings for 1H'22, emphasizing its strategy for growth. They encourage shareholders to protect their investments against Aviat's proposals.

Ceragon Networks Ltd. (NASDAQ: CRNT) announced a multi-million-dollar project awarded by a top-tier North American operator, which includes equipment, software, and managed services for a large expansion. This initiative aims to enhance 5G service offerings using Ceragon's technology, marking a notable increase in their market share. Equipment orders have already begun, with project rollout expected to start in early 2023. Ceragon's strategy focuses on delivering comprehensive solutions, alongside its innovative CeraOptimizer Software, reinforcing their position in the competitive 5G landscape.

Aviat Networks urges Ceragon Networks shareholders to vote FOR the removal of three directors and the election of five independent nominees at the upcoming Extraordinary General Meeting on August 23, 2022. Aviat's proposal, offering $3.08 per share, represents a 47% premium over Ceragon's recent stock price. The current board's failure to negotiate has led to operational challenges and declining stock prices. Aviat emphasizes the need for board change to enhance shareholder value and address ongoing operational setbacks.

Ceragon Networks Ltd. (NASDAQ: CRNT) announced the appointment of Ronen Stein as the new Chief Financial Officer, effective September 21, 2022. Mr. Stein brings over twenty years of experience in financial leadership and M&A expertise. Previously CFO at Siklu, he aims to drive Ceragon's growth and profitability. CEO Doron Arazi expressed confidence in Stein's capabilities to enhance company performance. Ceragon specializes in 5G wireless transport solutions, serving over 400 service providers globally.

Ceragon Networks Ltd. (NASDAQ: CRNT) reaffirms its opposition to Aviat Networks Inc.'s (AVNW) director nominees ahead of the August 23, 2022, Extraordinary General Meeting. Institutional Shareholder Services Inc. (ISS) recommended shareholders vote "AGAINST" all proposals from Aviat, citing concerns over low valuation and uncertainties regarding the transaction's financing. ISS's report highlights the potential risk of Aviat's inability to close the deal and criticizes the lack of relevant board experience among Aviat's nominees. Ceragon urges shareholders to discard any GOLD proxy materials and use the WHITE proxy card.

Ceragon Networks (NASDAQ: CRNT) has rejected Aviat Networks' (NASDAQ: AVNW) revised offer of $3.08 per share, deeming it significantly undervaluing the company. Ceragon's Board, supported by independent advisors, insists the offer fails to reflect their strong business momentum, which includes a 30.3% gross margin and $179 million in bookings for H1 2022. The company urges shareholders to vote against Aviat's proxy card to prevent control of the Board by unqualified nominees, emphasizing they remain open to fair transaction proposals while prioritizing shareholder value.