Exhibit 99.1
Occam Networks Announces Closing of Follow-On Offering of Common Stock
SANTA BARBARA, Calif. – November 7, 2006 – Occam Networks, Inc. (NASDAQ: OCNW), a supplier of innovative Ethernet and IP-based loop carrier equipment to telecommunications service providers, today announced the closing of its follow-on public offering of 5,250,000 shares of its common stock at a public offering price of $14.00 per share. Of the 5,250,000 shares, Occam sold 3,750,000 shares and selling stockholders sold 1,500,000 shares. The net proceeds to Occam from the sale of the 3,750,000 shares of common stock was approximately $48.3 million after deducting underwriting discounts and commissions and estimated offering expenses. Certain selling stockholders, together with certain members of management, have granted the underwriters a 30-day option to purchase up to an additional 755,000 shares, and Occam has granted the underwriters a 30-day option to purchase up to an additional 32,500 shares, in each case solely to cover over-allotments, if any.
Thomas Weisel Partners LLC acted as sole book-running manager for the offering, Jefferies & Company acted as co-lead manager for the offering, and Canaccord Adams and Merriman Curhan Ford & Co. acted as co-managers for the offering.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy, 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.
About Occam Networks, Inc.
Occam Networks’ broadband loop carrier (BLC) solutions enable telecommunications and other service providers to offer innovative voice, broadband, IPTV and full Triple Play services over copper or fiber. Occam solutions give telco service providers flexibility and scalability to expand their offerings, with simplicity of service deployment. Occam’s BLC products and services are currently deployed at over 180 service providers in North America. For more information, please visitwww.occamnetworks.com.
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Contact:
Chris Farrell
Chief Financial Officer
Occam Networks Inc.
+1 805.692.2900
Tim Johnson
Stearns Johnson Communications
+1 415.397.7600
tjohnson@stearnsjohnson.com
Occam Networks is a registered trademark of Occam Networks Inc. in the United States and/or other countries. All other trademarks mentioned are the property of their respective owners.
