Deal Description: On November 21, 2022, DZS Inc. (NASDAQ: DZSI) (“DZS”) completed an underwritten registered public offering pursuant to which DZS and DASAN Networks, Inc. (the “selling stockholder”) sold an aggregate of 3,883,912 shares of DZS common stock at a price to the public of $11.50 per share. DZS issued and sold 2,883,912 shares (including 376,162 shares pursuant to the underwriters’ 30-day option to purchase additional shares, which option was exercised on November 18, 2022), and the selling stockholder sold 1,000,000 shares (including 130,435 shares pursuant to the underwriters’ option).

The total gross proceeds payable to DZS from the offering were $33.2 million.

DZS intends to use the net proceeds from the offering for general corporate purposes, which may include research and development, sales and marketing initiatives, and the funding of working capital.  DZS will not receive any of the proceeds from the sale of the shares of common stock by the selling stockholder.

Cowen and Stifel are acting as joint book-running managers for the offering.

Baker Botts L.L.P. represented DZS and the selling stockholder in the offering.

DZS Inc. (NASDAQ: DZSI) is a global leader in access and optical edge infrastructure and cloud software solutions.

Baker Botts Lawyers/Office Involved:

Corporate: Preston Bernhisel (Partner, Dallas); Jenna Kabrich (Associate, Austin); Rusty Shellhorn (Associate, Dallas); Morgan Copher (Associate, Dallas)

Tax: Steve Marcus (Partner, Dallas)

DZS In-House Counsel: Justin Ferguson, Chief Legal Officer

Counsel for Underwriters: Goodwin Procter LLP

For more information, please see DZS’s news release by clicking here.

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