NETANYA, Israel, Nov. 9 /PRNewswire-FirstCall/ -- Saifun Semiconductors Ltd. (NASDAQ:SFUN) today announced that the underwriters for its initial public offering have exercised their over-allotment option to acquire an additional 750,000 ordinary shares of the company at the initial public offering price of US$23.50 per share. The additional net proceeds to Saifun Semiconductors from the exercise of the over-allotment option will be approximately US$16.2 million resulting in total net proceeds from the offering of approximately US$121.0 million. The over-allotment option is scheduled to close concurrently with the initial public offering on November 15, 2005. In connection with offering, Lehman Brothers acted as sole book-running manager, Deutsche Bank Securities acted as co-lead manager and CIBC World Markets, William Blair & Company and Raymond James acted as co-managers. A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state or other jurisdiction. About Saifun Semiconductors Ltd. Saifun provides intellectual property solutions for the non-volatile memory (NVM) market. The company licenses its Saifun NROM(R) technology to semiconductor manufacturers who use this technology to develop and manufacture a variety of stand-alone and embedded NVM products. Safe Harbor Statement Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to the company's plans, objectives and expectations for future operations and are based upon management's current estimates and projections of future results or trends. Actual future results may differ materially from those projected as a result of certain risks and uncertainties. For a discussion of such risks and uncertainties, see "Risk Factors" as described in the Company's final prospectus filed on November 9, 2005 with the U.S. Securities and Exchange Commission in connection with the company's initial public offering. These forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Contact: Marsha Shalvi Investor Relations Saifun Semiconductors Ltd. +972-9-892-8450 DATASOURCE: Saifun Semiconductors Ltd. CONTACT: Marsha Shalvi, Investor Relations of Saifun Semiconductors Ltd., +972-9-892-8450,

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