Press Release

Ceragon Announces Closing of Over-Allotment Option

August 21, 2014

Underwriters exercised option to purchase an additional 2,850,000 Ordinary Shares

Paramus, New Jersey, August 21, 2014 Ceragon Networks Ltd. (NASDAQ: CRNT), the #1 high-capacity wireless hauling specialist today announced closing the sale of an additional 2,850,000 ordinary shares upon the exercise by the underwriters of their over-allotment option in connection with the recent follow on public offering at a price of $2.00 per share. After closing the over-allotment, the total number of shares sold by Ceragon in the public offering increased to 24,100,000 shares, which resulted in gross proceeds of $48.2 million and net proceeds of approximately $45.1 million after deducting underwriting discounts and estimated offering expenses. Needham & Company acted as lead book-running manager of the offering. Oppenheimer & Co. acted as co-book runner. Ceragon intends to use the net proceeds from the offering for general corporate purposes. The registration statement pursuant to which this offering was made on Form F-3, including a base prospectus, previously filed with and subsequently declared effective by the Securities and Exchange Commission. The securities may be offered only by means of a prospectus and related prospectus supplement, which, when available, may be obtained from the SEC’s website athttp://www.sec.gov. Copies of the final prospectus supplement and accompanying base prospectus relating to this offering may also be obtained, when available, from Needham & Company, LLC, 445 Park Avenue, New York, NY 10022, (800) 903-3268. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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.
Ceragon Announces Closing of Over-Allotment Option

Media Contact

Matthew Krieger

GK Public Relations

Phone: (914) 768-4219

Email: matthew@gkpr.com

Tanya Solomon

Ceragon Networks Ltd.

Phone: (201) 853-0271

Email: tanyas@ceragon.com

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