Sunday, May 7, 2006

Redback Proposes Public Offering of Common Stock

Redback Networks intends to offer 3,500,000 shares of its common stock in a public offering. Certain of Redback Networks' stockholders also intend to offer an additional 4,698,000 shares of common stock in the offering. A shelf registration statement relating to the shares of common stock being offered became effective upon filing today with the Securities and Exchange Commission.



Redback Networks and the selling stockholders expect to grant the underwriters in the offering an option to purchase, at the public offering price, up to 1,229,700 additional shares of common stock, of which 614,850 will come from Redback Networks and 614,850 will come from the selling stockholders. Goldman, Sachs & Co. and UBS Investment Bank will act as the joint bookrunning managers for the offering. Cowen and Company, Thomas Weisel Partners LLC and Merriman Curhan Ford & Co. will act as co-managers for the offering. http://www.redback.com

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