SOURCE: Procera Networks

Procera Networks

June 24, 2011 16:01 ET

Procera Networks Announces Closing of Over-Allotment in Connection With Previously Announced Common Stock Offering

FREMONT, CA--(Marketwire - Jun 24, 2011) - Procera® Networks, Inc. (NYSE Amex: PKT), the intelligent policy enforcement company, today announced that it has completed the sale of 394,800 additional shares of common stock pursuant to the underwriters' full exercise of their over-allotment option in connection with Procera's recently announced public offering of common stock, resulting in additional net proceeds to Procera of approximately $3.5 million.

Including the exercise of the over-allotment option, the total net proceeds to the Company in the offering are approximately $26.5 million, after underwriting discounts and commissions and other estimated fees and expenses payable by Procera. Procera intends to use the net proceeds of the offering for general corporate purposes.

Stifel Nicolaus Weisel is sole book-running manager for the offering. Sterne Agee is co-manager for the offering.

A shelf registration statement relating to the offering of the common stock was filed with the U.S. Securities and Exchange Commission on May 13, 2011 and has become effective. The offering was made only by means of a prospectus supplement and accompanying prospectus, forming a part of the registration statement.

This press release 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 jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A copy of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained for free by visiting EDGAR on the SEC's website at www.sec.gov or by contacting Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by calling 415-364-2720.

About Procera Networks, Inc.

Procera Networks, Inc. delivers Intelligent Policy Enforcement (IPE) solutions, leveraging advanced Deep Packet Inspection (DPI) technology. This enables carriers, services providers and higher education institutions to improve the quality and lifetime of their networks, better monetize their infrastructure investments, control hazards, and create attractive services for their users by making qualified business decisions based on granular user and traffic intelligence. Procera's core product suite, the PacketLogic line of platforms, is an engine that drives the PCC (Policy and Charging Control) ecosystem, by enforcing advanced network and service policies. PacketLogic is deployed at more than 600 customers who value the unparalleled accuracy and high-end performance of the PacketLogic solution. Founded in 2002, Procera (NYSE Amex: PKT) is based in Silicon Valley and has offices around the globe. More information is available at www.proceranetworks.com.

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