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Ceva, Inc. Announces a Major Offering of Common Stock

In a significant move to enhance its capital structure, Ceva, Inc. (NASDAQ: CEVA) has officially announced the pricing of an underwritten public offering of up to 3,000,000 shares of its common stock, priced at $19.50 per share. This strategic initiative is part of Ceva's effort to bolster financial flexibility and facilitate its growth objectives. The total proceeds from the offering are expected to reach approximately $58.5 million, assuming that the underwriters do not exercise a secondary option for additional shares.

The shares being offered will be entirely sold by Ceva, and the company has also provided underwriters with a 30-day option to purchase up to an additional 450,000 shares at the public offering price, after accounting for underwriting discounts and commissions. The completion of the offering is anticipated by November 20, 2025, pending completion of customary conditions.

The primary aims of this stock offering include:
1. Increasing overall financial flexibility
2. Supplementing capital for strategic acquisitions and investments
3. Expanding the company’s public float, making its shares more accessible to the investors.

Ceva intends to utilize the net proceeds for various essential areas, including potential acquisitions of complementary technologies and businesses. Additionally, they may allocate funds for working capital, share repurchases, and other corporate purposes, highlighting the company's proactive approach to sustaining growth in a competitive market.

Leading Financial Institutions on Board
To ensure the effective execution of this offering, Ceva has engaged J.P. Morgan as the lead book-running manager, while UBS Investment Bank will serve as the junior active book-running manager. Other participants in the offering include TD Cowen and Stifel, both acting as additional book-running managers, along with Needham & Company, Rosenblatt, Roth Capital Partners, and Loop Capital Markets serving as co-managers. This robust team of financial experts underscores Ceva’s commitment to a successful fundraising initiative.

The proposed offering falls under a shelf registration statement on Form S-3, which was filed with the Securities and Exchange Commission (SEC) on August 7, 2024 and became effective on August 16, 2024. The necessary prospectus supplements related to this offering will be filed with the SEC and will be accessible at no charge on the SEC’s website at sec.gov. Moreover, copies of the final prospectus supplement can be obtained from the respective financial institutions involved in this offering, enabling interested investors to make informed decisions.

About Ceva, Inc.
Ceva, Inc. is renowned for its innovative technologies that drive the smart edge. Their portfolio encompasses a range of wireless communications and Edge AI solutions, catering to some of the most advanced products in the industry. As a key player in the sector, Ceva significantly contributes to AI-infused smartwatches, IoT devices, and even 5G mobile networks, demonstrating their commitment to enabling a smarter, safer, and more interconnected world. Ceva's growth trajectory reflects its drive to deliver low-power, high-performance solutions that appeal to the modern technological landscape.

Forward-Looking Statements
It is important to note that this announcement contains forward-looking statements. These can include expectations regarding market conditions and the closing of the stock offering. Such statements involve risks and uncertainties that could cause actual results to differ. Interested parties are encouraged to review the detailed risks outlined in Ceva's periodic SEC filings, including its annual Form 10-K for the year ended December 31, 2024. It is advised that investors exercise caution and refrain from placing undue reliance on these forward-looking statements, as Ceva does not intend to publicly update them unless legally required.

With this public offering, Ceva, Inc. is poised to not only enhance its financial position but also to capitalize on strategic growth opportunities that could redefine its market presence.