<SEC-DOCUMENT>0001178913-20-001352.txt : 20200507
<SEC-HEADER>0001178913-20-001352.hdr.sgml : 20200507
<ACCEPTANCE-DATETIME>20200507135328
ACCESSION NUMBER:		0001178913-20-001352
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20200507
DATE AS OF CHANGE:		20200507

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CERAGON NETWORKS LTD
		CENTRAL INDEX KEY:			0001119769
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-237809
		FILM NUMBER:		20855671

	BUSINESS ADDRESS:	
		STREET 1:		24 RAOUL WALLENBERG ST
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			69719
		BUSINESS PHONE:		972-3-543-1000

	MAIL ADDRESS:	
		STREET 1:		24 RAOUL WALLENBERG ST
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			69719

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GIGANET LTD
		DATE OF NAME CHANGE:	20000719
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>zk2024375.htm
<DESCRIPTION>424B3
<TEXT>
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      <div style="line-height: 1.25;">
        <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
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      <div style="text-align: right; line-height: 1.25; font-weight: bold;">Filed Pursuant to Rule 424(b)(3)</div>
    </div>
    <div style="text-align: right; line-height: 1.25; font-weight: bold;">Registration No. 333-237809</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Prospectus</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25;"><img width="192" height="49" src="image1.jpg"></div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">$150,000,000</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Ordinary Shares</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Rights</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Warrants</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Debt Securities</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Units</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We may offer and sell from time to time in one or more offerings our ordinary shares, rights, warrants, debt
      securities and units having an aggregate offering price of up to $150,000,000.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Each time we sell securities pursuant to this prospectus, we will provide in a supplement to this prospectus the
      price and any other material terms of any such offering and the securities offered.&#160; Any prospectus supplement may also add, update or change information contained in the prospectus.&#160; You should read this prospectus and any applicable prospectus
      supplement, as well as the documents incorporated by reference or deemed incorporated by reference into this prospectus, carefully before you invest in any securities.&#160;&#160;<font style="font-weight: bold;">This prospectus may not be used to offer or sell securities unless accompanied by a prospectus supplement</font>.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Our ordinary shares are traded on the Nasdaq Global Select Market, or Nasdaq, under the symbol &#8220;CRNT&#8221;.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The closing sale price of our ordinary shares on the Nasdaq Global Select Market on May 6, 2020, was $<font style="background-color: #FFFFFF;">2.06</font> per share.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;">Investing in our securities involves a high degree of risk.&#160; Risks associated with an investment
      in our securities will be described in the applicable prospectus supplement and are and will be described in certain of our filings with the Securities and Exchange Commission, as described in &#8220;Risk Factors&#8221; on page 3.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The securities may be sold directly by us to investors, through agents designated from time to time,&#160; through
      underwriters or dealers, or through a combination of such methods.&#160;&#160;For additional information on the methods of sale, you should refer to the section entitled &#8220;Plan of Distribution&#8221;. If any underwriters are involved in the sale of our securities
      with respect to which this prospectus is being delivered, the names of such underwriters and any applicable commissions or discounts will be set forth in a prospectus supplement.&#160; The net proceeds we expect to receive from such sale will also be set
      forth in a prospectus supplement.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;">Neither the Securities and Exchange Commission nor any state securities commission has approved or
      disapproved of these securities or passed upon the adequacy or accuracy of this prospectus.&#160;&#160;Any representation to the contrary is a criminal offense.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25;">The date of this prospectus is&#160;May 6, 2020</div>
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    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">TABLE OF CONTENTS</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25">
      <div style="line-height: 1.25">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 80%;" rowspan="1">&#160;</td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;<font style="font-weight: bold;"><u>Page</u></font></td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">&#160;</td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>
                  <div style="text-align: left; line-height: 1.25;"><a href="#ABOUTTHISPROSPECTUS">ABOUT THIS PROSPECTUS </a><br>
                  </div>
                </div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;2</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>&#160;</div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>
                  <div style="text-align: left; line-height: 1.25;"><a href="#ABOUTCERAGONNETWORKSLTD.">ABOUT CERAGON NETWORKS LTD. </a><br>
                  </div>
                </div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;2</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;"><br>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>
                  <div style="text-align: left; line-height: 1.25;"><a href="#MATERIALCHANGES">MATERIAL CHANGES </a><br>
                  </div>
                </div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;3</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>&#160;</div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>
                  <div style="text-align: left; line-height: 1.25;"><a href="#RISKFACTORS">RISK FACTORS<br>
                    </a> </div>
                </div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;3</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>&#160;</div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>
                  <div style="text-align: left; line-height: 1.25;"><a href="#NOTEREGARDINGFORWARD-LOOK">NOTE REGARDING FORWARD-LOOKING STATEMENTS </a><br>
                  </div>
                </div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;4</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>&#160;</div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>
                  <div style="text-align: left; line-height: 1.25;"><a href="#OFFERSTATISTICSANDEXPECTE">OFFER STATISTICS AND EXPECTED TIMETABLE </a><br>
                  </div>
                </div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;4</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>&#160;</div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>
                  <div style="text-align: left; line-height: 1.25;"><a href="#CAPITALIZATIONANDINDEBTED">CAPITALIZATION AND INDEBTEDNESS</a><br>
                  </div>
                </div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;5</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>&#160;</div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>
                  <div style="text-align: left; line-height: 1.25;"><a href="#REASONSFORTHEOFFERANDUSEO">PRICE RANGE OF OUR SHARES</a><br>
                  </div>
                </div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;5</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;">
                <div>&#160;</div>
              </td>
              <td style="width: 20%;">
                <div style="text-align: right;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">
                <div style="text-align: left; line-height: 1.25;"><a href="#REASONSFORTHEOFFERANDUSEO">REASONS FOR THE OFFER AND&#160;USE OF PROCEEDS</a><br>
                </div>
              </td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;5</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">&#160;</td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">
                <div style="text-align: left; line-height: 1.25;"><a href="#DESCRIPTIONOFORDINARYSHAR">DESCRIPTION OF ORDINARY SHARES</a><br>
                </div>
              </td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;5</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">&#160;</td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">
                <div style="text-align: left; line-height: 1.25;"><a href="#DESCRIPTIONOFRIGHTS">DESCRIPTION OF RIGHTS</a><br>
                </div>
              </td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;5</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">&#160;</td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">
                <div style="text-align: left; line-height: 1.25;"><a href="#DESCRIPTIONOFWARRANTS">DESCRIPTION OF WARRANTS</a><br>
                </div>
              </td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;6</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">&#160;</td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">
                <div style="text-align: left; line-height: 1.25;"><a href="#DESCRIPTIONOFDEBTSECURITI">DESCRIPTION OF DEBT SECURITIES</a><br>
                </div>
              </td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;7</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">&#160;</td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">
                <div style="text-align: left; line-height: 1.25;"><a href="#DESCRIPTIONOFUNITS">DESCRIPTION OF UNITS</a><br>
                </div>
              </td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;8</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1"><br>
              </td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">
                <div style="text-align: left; line-height: 1.25;"><a href="#PLANOFDISTRIBUTION">PLAN OF DISTRIBUTION</a><br>
                </div>
              </td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;8</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">&#160;</td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">
                <div style="text-align: left; line-height: 1.25;"><a href="#EXPENSES">EXPENSES</a><br>
                </div>
              </td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;10</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">&#160;</td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">
                <div style="text-align: left; line-height: 1.25;"><a href="#LEGALMATTERS">LEGAL MATTERS</a><br>
                </div>
              </td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;10</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">&#160;</td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">
                <div style="text-align: left; line-height: 1.25;"><a href="#EXPERTS">EXPERTS<br>
                  </a> </div>
              </td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;10</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">&#160;</td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">
                <div style="text-align: left; line-height: 1.25;"><a href="#WHEREYOUCANFINDMOREINFORM">WHERE YOU CAN FIND MORE INFORMATION AND INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</a><br>
                </div>
              </td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;11</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">&#160;</td>
              <td style="width: 20%;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 80%;" rowspan="1">
                <div style="text-align: left; line-height: 1.25;"><a href="#ENFORCEABILITYOFCIVILLIAB">ENFORCEABILITY OF CIVIL LIABILITIES</a><br>
                </div>
              </td>
              <td style="width: 20%; text-align: right;" rowspan="1">&#160;12</td>
            </tr>

        </table>
      </div>
    </div>
    <div style="line-height: 1.25"> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">1</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="ABOUTTHISPROSPECTUS"><!--Anchor--></a>ABOUT THIS PROSPECTUS</div>
    <div style="text-align: center; text-indent: 36pt; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">This prospectus is part of a registration statement that we filed with the Securities and Exchange Commission, or the
      Commission, utilizing a &#8220;shelf&#8221; registration process.&#160; Under this shelf registration process, we may offer from time to time up to $150,000,000 in the aggregate of our ordinary shares, rights, warrants, debt securities or units, or combinations
      thereof, in one or more offerings.&#160;&#160;We will refer to our ordinary shares, rights, warrants, debt securities and units collectively as the &#8220;securities&#8221; throughout this prospectus.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Each time we sell securities, we will provide you with a prospectus supplement that will describe the securities, the
      specific amounts, prices and terms of such offering. The prospectus supplement may also add, update or change information contained in this prospectus.&#160; You should read carefully both this prospectus and any prospectus supplement together with
      additional information described below under &#8220;Where You Can Find More Information and Incorporation of Certain Information by Reference.&#8221;</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">This prospectus does not contain all of the information provided in the registration statement that we filed with the
      Commission.&#160; For further information about us or our securities, you should refer to that registration statement, which you can obtain from the Securities and Exchange Commission as described below under &#8220;Where You Can Find More Information and
      Incorporation of Certain Information by Reference.&#8221;</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">You should rely only on the information contained or incorporated by reference in this prospectus or a prospectus
      supplement.&#160; We have not authorized any other person to provide you with different information.&#160; If anyone provides you with different or inconsistent information, you should not rely on it.&#160; This prospectus is not an offer to sell these securities
      and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.&#160; You should not assume that the information contained in this prospectus and the accompanying prospectus supplement is accurate on
      any date subsequent to the date set forth on the front of the document or that any information that we have incorporated by reference is correct on any date subsequent to the date of the document incorporated by reference.&#160; Our business, financial
      condition, results of operations and prospects may have changed since those dates.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In this prospectus, references to the terms &#8220;Ceragon,&#8221; &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;our,&#8221; &#8220;us&#8221; and similar terms, refer to
      Ceragon Networks Ltd. and our wholly owned subsidiaries on a consolidated basis, unless we state or the context implies otherwise.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="ABOUTCERAGONNETWORKSLTD."><!--Anchor--></a>ABOUT CERAGON NETWORKS LTD.</div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-style: italic;">Overview</font></div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We are the leading wireless hauling specialist company in terms of unit shipments and global distribution of our
      business, providing innovative high capacity wireless connectivity solutions to global markets across various industries, mainly wireless (mobile) networks service providers.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Wireless hauling is a means for connecting mobile network sites (e.g. cellular base stations in various
      architectures) to the rest of the network. It carries information to and from the cellular base stations. It is used when high-speed wireline connectivity to telecom sites (typically fiber optics) is not available or rapid development is required.
      According to market research, about 45% of global telecom sites are connected to the rest of the network via wireless hauling. The term &#8216;wireless hauling&#8217; refers to various types of network connectivity signaling and network protocols which vary in
      speeds and include 1) backhaul - used in 4G, 5G and earlier generations of mobile networks to send data packets between the network and the base-stations and between the base-stations to other network elements, and 2) fronthaul - used in 4G and 5G
      networks to send radio signal values between building blocks of the base station, which can be separated from another across geographic site locations to achieve network efficiencies in some network scenarios.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Wireless hauling offers network operators a cost-efficient alternative to wire-line connectivity between network
      nodes at different sites, mainly fiber optics. Support for high broadband speeds and very large numbers of devices, means that all value-added services can be supported, while the high reliability of wireless systems provide for lower maintenance
      costs. Because they require no trenching, wireless hauling links can also be set up much faster and at a fraction of the cost of wire-line solutions. On the operator&#8217;s side, this translates into an increase in operational efficiency and faster
      time-to-market, as well as a shorter timetable to achieving new revenue streams.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#160;We provide wireless hauling solutions and services that enable cellular operators and other service providers to
      build new networks and evolve networks towards 4G and 5G services. The services provided over these networks are: voice, mobile and fixed broadband, Industrial/Machine-to-Machine (M2M), Internet of Things (IoT) connectivity, public safety and other
      mission critical services. We also provide our solutions for wireless backhaul to other vertical markets such as Internet service providers, public safety, utilities, oil and gas offshore drilling platforms, as well as maritime communications. Our
      wireless hauling solutions use microwave and millimeter-wave radio technologies to transfer large amounts of telecommunication traffic between wireless 5G, 4G, 3G and other cellular base station technologies (distributed, or centralized with
      dispersed remote radio heads) and the core of the service provider&#8217;s network. We are also a member of industry consortiums of companies, which attempt to better define future technologies in ICT (Information and Communication Technologies) markets,
      such as Open Networking Foundation (ONF), Metro Ethernet Forum (MEF), European Telecommunications Standards Institute (ETSI), Telecom Infra Project (TIP) and others.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
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        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In addition to providing our solutions, we also offer our customers a comprehensive set of turn-key services,
      including advanced network and radio planning, site survey, solutions development, network rollout, maintenance, wireless hauling network audit and optimization, and training. Our services include powerful project management tools that streamline
      deployments of complex wireless networks, thereby reducing time and costs associated with network set-up and allowing a fast time-to-revenue. Our experienced teams can deploy hundreds of wireless hauling links every week, and our rollout project
      track record includes hundreds of thousands of links already installed and operational with a variety of industry-leading operators.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Designed for any network scenario, including risk-free flexible migration from current and legacy network
      technologies and architectures to evolving standards and network hauling scenarios, our solutions provide ultra-high speed connectivity at any distance, be it a few kilometers or tens of kilometers, and even longer, over any available spectrum (or
      combinations of available spectrum bands) and in any site and network architecture. Our solutions support all wireless access technologies, including 5G-NR NSA, 5G-NR SALTE, HSPA, EV-DO, CDMA, W-CDMA, WIFI and GSM as well as Tetra, P.25 and LMR for
      critical communications. These solutions allow wireless service providers to cost-effectively and seamlessly evolve their networks from a monolithic base-station architecture to an open RAN architecture, utilizing vertical and horizontal
      disaggregation, allowing them extra flexibility, scalability and efficiency, thereby meeting the increasing demand of a growing number of connections of any type be those consumers and enterprises with growing needs for mobile and other multimedia
      services, and a growing number of machines or IoT devices such as street surveillance devices or meters.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We also provide our solutions to other non-carrier vertical markets such as oil and gas companies, public safety
      organizations, businesses and public institutions, broadcasters, energy utilities and others that operate their own private communications networks. Our solutions are deployed by more than 460 service providers of all sizes, as well as in hundreds of
      private networks, in more than 130 countries.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-style: italic;">Corporate Information</font></div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Ceragon was incorporated under the laws of the State of Israel on July 23, 1996 as Giganet Ltd. and has changed its
      name to Ceragon Networks Ltd. on September 6, 2000. Ceragon&#8217;s registered office is located at 24 Raoul Wallenberg Street, Tel Aviv 6971920, Israel and the telephone number is 011-972-3-543-1000. Ceragon&#8217;s U.S. subsidiary and North American
      headquarters, Ceragon Networks, Inc., is located at Overlook at Great Notch, 150 Clove Road, 9<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup>&#160; Floor, Little Falls, New Jersey, USA 07424 and the telephone number is (201) 845-6955. Ceragon&#8217;s Internet address is www.ceragon.com. The
      information on our website is not incorporated by reference into this prospectus and should not be relied upon with respect to this offering.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">For a full and comprehensive description of our business, markets and product lines, see our most recent Annual
      Report on Form 20-F and any updates in our Reports of Foreign Private Issuer on Form 6-K, to the extent that they are incorporated herein by reference.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="MATERIALCHANGES"><!--Anchor--></a>MATERIAL CHANGES</div>
    <div style="text-align: center; text-indent: 36pt; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Except as otherwise described in our Annual Report on Form 20-F for the fiscal year ended December 31, 2019, and in
      our Reports of Foreign Private Issuer on Form 6-K filed under the Exchange Act and incorporated by reference or disclosed herein, no reportable material changes have occurred since December 31, 2019.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="RISKFACTORS"><!--Anchor--></a>RISK FACTORS</div>
    <div style="text-align: center; text-indent: 36pt; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Before making an investment decision, you should carefully consider the risks described under &#8220;Risk Factors&#8221; in the
      applicable prospectus supplement and in our Annual Report on Form 20-F <font style="background-color: #FFFFFF;">for the fiscal year ended December 31, 2019</font>, or any updates in our
      Reports of Foreign Private Issuer on Form 6-K, together with all of the other information appearing in this prospectus or incorporated by reference into this prospectus and any applicable prospectus supplement, in light of your particular investment
      objectives and financial circumstances. <font style="background-color: #FFFFFF;">For a description of those reports and documents, and information about where you can find them, please
        see &#8220;Where You Can Find More Information and Incorporation of Certain Information.&#8221;</font> The risks so described are not the only risks facing our company. Additional risks not presently known to us or that we currently deem immaterial may also
      impair our business operations.&#160; Our business, financial condition and results of operations could be materially adversely affected by any of these risks.&#160;The trading price of our securities could decline due to any of these risks, and you may lose
      all or part of your investment.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="NOTEREGARDINGFORWARD-LOOK"><!--Anchor--></a>NOTE REGARDING FORWARD-LOOKING STATEMENTS</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">This prospectus contains, and any accompanying prospectus supplement will contain, &#8220;forward-looking statements&#8221; within the meaning of the Securities Act of 1933, as amended, or the Securities Act, and the Securities Exchange Act of 1934, as amended, or the Exchange Act, and
      the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.&#160;Also, documents that we incorporate by reference into this prospectus, including documents that we subsequently file with the Commission, will contain forward-looking
      statements.&#160; Forward-looking statements are those that predict or describe future events or trends and that do not relate solely to historical matters. We have based these forward-looking statements on our current expectations and projections about
      future events.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Forward-looking statements can be identified by the use of terminology such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;assume,&#8221; &#8220;expect,&#8221;
      &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;continue,&#8221; &#8220;believe,&#8221; &#8220;potential,&#8221; &#8220;possible,&#8221; &#8220;intend,&#8221; and similar expressions or negatives of those expressions that are intended to identify
        forward-looking statements, although not all forward-looking statements contain these identifying words.&#160; All statements contained or incorporated by
      reference in this prospectus and any prospectus supplement regarding our future strategy, future expectations, plans and events, future operations, projected financial position, proposed products, estimated future revenues, projected costs, future
      prospects, the future of our industry and results that might be obtained by pursuing management&#8217;s current plans and objectives, projections of results of operations or of financial condition, are &#8220;forward-looking statements&#8221;.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">You should not place undue reliance on our forward-looking statements because the matters they describe are subject
      to certain risks, uncertainties and assumptions that are difficult to predict, and they involve known and unknown risks and uncertainties that may cause our the actual
        results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Our forward-looking statements are based on the information
      currently available to us and speak only as of the date on the cover of this prospectus, the date of any prospectus supplement, or, in the case of forward-looking statements incorporated by reference, the date of the filing that includes the
      statement. Over time, our actual results, performance or achievements may differ from those expressed or implied by our forward-looking statements, and such difference might be significant and materially adverse to our security holders. We undertake
      no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We have identified some of the important factors that could cause future events to differ from our current
      expectations and they are described in this prospectus and supplements to this prospectus under the caption &#8220;Risk Factors,&#8221; as well as in our Annual Report on Form 20-F for the fiscal year ended December 31, 2019, including without limitation under
      the captions &#8220;Item 3. Key Information - D. Risk Factors,&#8221; the information about us set forth under Item 4. &#8220;INFORMATION ON THE COMPANY&#8221; and information related to our financial condition under Item 5. &#8220;OPERATING AND FINANCIAL REVIEW AND PROSPECTS&#8221;, in our 2019 Form 20-F generally, and in other documents that we may file with
      the Commission, all of which you should review carefully.&#160; Please consider our forward-looking statements in light of those risks as you read this prospectus and any prospectus supplement.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="OFFERSTATISTICSANDEXPECTE"><!--Anchor--></a>OFFER STATISTICS AND EXPECTED TIMETABLE</div>
    <div style="text-align: center; text-indent: 36pt; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We may offer and sell from time to time pursuant to this prospectus (as may be detailed in prospectus supplements) an
      indeterminate number of securities as shall have a maximum aggregate offering price of $150,000,000.&#160;&#160;The actual per share price of the securities that we will offer pursuant hereto will depend on a number of factors that may be relevant as of the
      time of offer (see &#8220;Plan of Distribution&#8221; below).</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="CAPITALIZATIONANDINDEBTED"><!--Anchor--></a>CAPITALIZATION AND INDEBTEDNESS</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The following table sets forth, on the basis of generally accepted accounting principles in the United States, our
      consolidated capitalization and indebtedness as of December 31, 2019. There has been no material change in the Company&#8217;s capitalization and indebtedness since December 31, 2019:</div>
    <div style="line-height: 1.25">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="za1aae0bba4304d74a3aff0475448c60f">

        <tr>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">U.S. Dollars</div>
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(In thousands)</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: #CCEEFF; width: 88%;">
            <div style="line-height: 1.25;">Short-term borrowings</div>
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          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="line-height: 1.25;">14,600</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
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            <div style="line-height: 1.25;">Long-term borrowings</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: #FFFFFF; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: #FFFFFF; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: #FFFFFF; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 88%;">
            <div style="line-height: 1.25;">Shareholders&#8217; equity:</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: #FFFFFF; width: 88%;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; margin-left: 27pt;">Share capital -</div>
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; margin-left: 27pt;">Ordinary shares, NIS 0.01 par value, authorized 120,000,000 shares;</div>
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; margin-left: 27pt;">issued 84,144,328, outstanding 80,662,805</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: #FFFFFF; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: #FFFFFF; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="line-height: 1.25;">215</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: #FFFFFF; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 88%;">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 88%;">
            <div style="line-height: 1.25;">Additional paid-in capital</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(255, 255, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(255, 255, 255); vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="line-height: 1.25;">418,062</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: rgb(255, 255, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 88%;">
            <div style="line-height: 1.25;">Accumulated other comprehensive loss</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="line-height: 1.25;">(8,666</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" colspan="1">
            <div style="line-height: 1.25;">)</div>
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        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 88%;">
            <div style="line-height: 1.25;">Retained earnings (losses)</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(255, 255, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(255, 255, 255); vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="line-height: 1.25;">(229,099</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: rgb(255, 255, 255); vertical-align: bottom; width: 1%;" colspan="1">
            <div style="line-height: 1.25;">)</div>
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        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 88%;">
            <div style="line-height: 1.25;">Total shareholders&#8217; equity before treasury stock</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="line-height: 1.25;">180,512</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 88%;">
            <div style="line-height: 1.25;">Treasury stock at cost</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(255, 255, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(255, 255, 255); vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="line-height: 1.25;">(20,091</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: rgb(255, 255, 255); vertical-align: bottom; width: 1%;" colspan="1">
            <div style="line-height: 1.25;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 88%;">
            <div style="line-height: 1.25;">Total shareholders' equity</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="line-height: 1.25;">160,421</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: rgb(255, 255, 255); width: 88%;">
            <div style="line-height: 1.25;">
              <div style="line-height: 1.25;">Total capitalization and indebtedness</div>
            </div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(255, 255, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: rgb(255, 255, 255); vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="line-height: 1.25;">175,021</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: rgb(255, 255, 255); vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="REASONSFORTHEOFFERANDUSEO"><!--Anchor--></a>REASONS FOR THE OFFER AND&#160;USE OF PROCEEDS</div>
    <div style="text-align: center; text-indent: 14.7pt; margin-left: 21.3pt; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 21.3pt; line-height: 1.25;">Our management will have broad discretion over the use of the net proceeds from the sale of our
      securities pursuant to this prospectus.&#160;&#160;Unless otherwise indicated in any accompanying prospectus supplement, we currently intend to use the net proceeds from the sale of the securities offered pursuant to this prospectus for general corporate
      purposes and working capital requirements.&#160;Pending use of the proceeds, we intend to invest the proceeds in portfolios of investment grade corporate and government securities.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="DESCRIPTIONOFORDINARYSHAR"><!--Anchor--></a>DESCRIPTION OF ORDINARY SHARES</div>
    <div style="text-align: center; text-indent: 36pt; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The primary trading market for our ordinary shares is the Nasdaq Global Market, where our ordinary shares are listed
      and traded under the symbol "CRNT".</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">A description of our ordinary shares can be found in Exhibit 2.1 to our Annual Report on Form 20-F&#160; for the fiscal
      year ended December 31, 2019, which description is incorporated herein by reference.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="DESCRIPTIONOFRIGHTS"><!--Anchor--></a>DESCRIPTION OF RIGHTS</div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">General</font></div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We may issue rights to purchase any of our securities or any combination thereof.&#160;&#160;Rights may be issued independently
      or together with any other offered security and may or may not be transferable by the person purchasing or receiving the rights. In connection with any rights offering to our shareholders, we may enter into a standby underwriting arrangement with one
      or more underwriters pursuant to which such underwriters will purchase any offered securities remaining unsubscribed for after such rights offering. We may also appoint a rights agent that may act solely as our agent in connection with the rights
      that are sold.&#160;No such agent will assume any obligation or relationship of agency or trust with any of the holders of the rights.&#160; In connection with a rights offering to our shareholders, we will distribute certificates evidencing the rights and a
      prospectus supplement to our shareholders on the record date that we set for receiving rights in such rights offering.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The applicable prospectus supplement will describe the following terms of rights in respect of which this prospectus
      is being delivered:</div>
    <div style="line-height: 1.25">&#160;</div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z8f0da7386bea47caa14579242ddc76a6" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the title of such rights;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zf85ad475ca044eabb720bd7e1e0ca6d7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the securities for which such rights are exercisable;</div>
            </td>
          </tr>

      </table>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">5</font></div>
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z527c74141d88422e9d69611fc3e34852" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the exercise price for such rights;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z49b58b7561d54eb496106b65fb438341" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the number of such rights issued with respect to each ordinary share;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z397205f83ae543b2b0fccb932e921ef6" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the extent to which such rights are transferable;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z1767cfc0b0a446dfbef03e92f083fb7d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">if applicable, a discussion of the material income tax considerations applicable to the issuance or exercise of such rights;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z4e46498e0f2a4010a317b75ded17abf1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the date on which the right to exercise such rights shall commence, and the date on which such rights shall expire (subject to
                any extension);</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zf9df499097b149458bdd0cb0129c9e2a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the extent to which such rights include an over-subscription privilege with respect to unsubscribed securities;</div>
            </td>
          </tr>

      </table>
      <div>
        <div>
          <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 53.85pt; vertical-align: top; align: right;">
                  <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify; line-height: 1.25;">
                    <div style="line-height: 1.25;">if applicable, the material terms of any standby underwriting or other purchase arrangement, or any agency agreement,
                      that we may enter into in connection with the rights offering; and</div>
                  </div>
                </td>
              </tr>

          </table>
          <div>
            <div>
              <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

                  <tr>
                    <td style="width: 53.85pt; vertical-align: top; align: right;">
                      <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
                    </td>
                    <td style="width: auto; vertical-align: top;">
                      <div style="text-align: justify; line-height: 1.25;">
                        <div style="line-height: 1.25;">any other terms of such rights, including terms, procedures and limitations relating to the exchange and exercise of
                          such rights.</div>
                      </div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Exercise of Rights</font></div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Each right will entitle the holder of the right to purchase for cash such securities or any combination thereof at
      such exercise price as shall in each case be set forth in, or be determinable as set forth in, the prospectus supplement relating to the rights offered thereby.&#160;Rights may be exercised at any time up to the close of business on the expiration date
      for such rights set forth in the prospectus supplement. After the close of business on the expiration date, all unexercised rights will become void.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Rights may be exercised as set forth in the prospectus supplement relating to the rights offered thereby. Upon
      receipt of payment and the rights certificate properly completed and duly executed at the corporate trust office of the rights agent or any other office indicated in the prospectus supplement, we will forward, as soon as practicable, the securities
      purchasable upon such exercise.&#160;We may determine to offer any unsubscribed offered securities directly to persons other than shareholders, to or through agents, underwriters or dealers or through a combination of such methods, including pursuant to
      standby underwriting arrangements, as set forth in the applicable prospectus supplement.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="DESCRIPTIONOFWARRANTS"><!--Anchor--></a>DESCRIPTION OF WARRANTS<br>
      <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We may issue warrants to purchase any of our securities. We may issue warrants independently or together with any
      other securities offered by any prospectus supplement and the warrants may be attached to or separate from those securities. Any series of warrants may be issued under a separate warrant agreement, which may be entered into between us and a warrant
      agent specified in a prospectus supplement. Any such warrant agent will act solely as our agent in connection with the warrants of such series and will not assume any obligation or relationship of agency or trust with any of the holders of the
      warrants. We will set forth further terms of the warrants and any applicable warrant agreements in the applicable prospectus supplement relating to the issuance of any warrants, including, where applicable, the following:</div>
    <div style="line-height: 1.25">&#160;</div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z3d36b3ba3e8d4ddf93f66ec2209044bb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the title of the warrants;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zae2d2d61d9ba434fb34a55e6e6a0e195" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the aggregate number of the warrants;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z84a0e43616d245e99ad1ee2cb76e41f4" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the number and type of securities purchasable upon exercise of the warrants;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zec3ddd0c31cd460787d6e8b554c6b197" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the designation and terms of the securities, if any, with which the warrants are issued and the number of the warrants issued
                with each such offered security;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z28ba8f1168d04c9a8733307671508143" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the date, if any, on and after which the warrants and the related securities will be separately transferable;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z48a259ff04954b0e882457bed0a85252" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the price at which, and form of consideration for which, each security purchasable upon exercise of the warrants may be
                purchased;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zfe21944f2f7749cda0dd561bc4112134" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the date on which the right to exercise the warrants will commence and the date on which the right will expire;</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">6</font></div>
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zd27ec6d3962d4ac7a65c6ae16eadb6da" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the minimum or maximum amount of the warrants which may be exercised at any one time;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z665a031e933a48aebfed11d4c6c0ad0f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">any circumstances that will cause the warrants to be deemed to be automatically exercised;&#160;and</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zfb84ef04589041a99e8cd0d8ebdf9958" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 53.85pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">any other material terms of the warrants.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="DESCRIPTIONOFDEBTSECURITI"><!--Anchor--></a>DESCRIPTION OF DEBT SECURITIES</div>
    <div style="text-align: center; text-indent: 36pt; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We may issue debt securities together with other securities or separately, as described in the applicable prospectus
      supplement, under an indenture with the trustee identified in the applicable prospectus supplement. The terms of the debt securities will include those stated in the indenture and those made part of the indenture by reference to the Trust Indenture
      Act of 1939, as in effect on the date of the indenture. The indenture will be subject to and governed by the terms of the Trust Indenture Act of 1939.&#160; We have filed a form of the indenture as an exhibit to the registration statement of which this
      prospectus is a part.</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We may issue the debt securities in one or more series with the same or various maturities, at par, at a premium, or
      at a discount. We will describe the particular terms of each series of debt securities in a prospectus supplement relating to that series, which we will file with the Commission.</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The prospectus supplement will set forth, to the extent required, the following terms of the debt securities in
      respect of which the prospectus supplement is delivered:</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z36437e2083a54b71a1a06e05b308b890" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 6.67%; vertical-align: top;">
            <div style="line-height: 1.25;">&#160;</div>
          </td>
          <td style="width: 3.33%; vertical-align: top;">
            <div style="line-height: 1.25;">&#9679;</div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div style="line-height: 1.25;">the title of the series;</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <table cellspacing="0" cellpadding="0" id="ze4030204629c44c2a06dcacc638c0aa9" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
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            <div style="line-height: 1.25;">&#160;</div>
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            <div style="line-height: 1.25;">if amounts of principal and, if applicable, premium and interest may be determined by reference to an index based on a currency or
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            <div style="line-height: 1.25;">the provisions, if any, relating to any collateral provided for such debt securities;</div>
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          <td style="width: 3.33%; vertical-align: top;">
            <div style="line-height: 1.25;">&#9679;</div>
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            <div style="line-height: 1.25;">any events of default;</div>
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            <div style="line-height: 1.25;">the terms and conditions, if any, for conversion into or exchange for ordinary shares;</div>
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    <div style="text-align: justify; line-height: 1.25;">&#160;</div>
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          <td style="width: 90%; vertical-align: top;">
            <div style="line-height: 1.25;">the terms and conditions, if any, upon which the debt securities shall be subordinated in right of payment to other indebtedness of
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    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">One or more debt securities may be sold at a substantial discount below their stated principal amount. We may also
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      considerations which apply to these debt securities in the applicable prospectus supplement.</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We may issue debt securities denominated in or payable in a foreign currency or currencies or a foreign currency unit
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    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The debt securities of a series may be issued in whole or in part in the form of one or more global securities that
      will be deposited with, or on behalf of, a depositary identified in the prospectus supplement. Global securities will be issued in registered form and in either temporary or definitive form. Unless and until it is exchanged in whole or in part for
      individual debt securities, a global security may not be transferred except as a whole by the depositary for such global security to a nominee of such depositary or by a nominee of such depositary to such depositary or another nominee of such
      depositary or by such depositary or any such nominee to a successor of such depositary or a nominee of such successor. The specific terms of the depositary arrangement with respect to any debt securities of a series and the rights of and limitations
      upon owners of beneficial interests in a global security will be described in the applicable prospectus supplement.</div>
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    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="DESCRIPTIONOFUNITS"><!--Anchor--></a>DESCRIPTION OF UNITS</div>
    <div style="text-align: center; text-indent: 36pt; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">As specified in the applicable prospectus supplement, we may issue units consisting of our ordinary shares, rights,
      warrants or debt securities or any combination of such securities.&#160;The applicable prospectus supplement will describe:</div>
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              <div style="text-align: justify; line-height: 1.25;">the terms of the units and of the ordinary shares, rights, warrants and/or debt securities comprising the units, including
                whether and under what circumstances the securities comprising the units may be traded separately;</div>
            </td>
          </tr>

      </table>
      <div>
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                </td>
                <td style="width: auto; vertical-align: top;">
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                    <div style="line-height: 1.25;">a description of the terms of any unit agreement governing the units or any arrangement with an agent that may act on
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                  </div>
                </td>
              </tr>

          </table>
        </div>
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                    <div style="line-height: 1.25;">a description of the provisions for the payment, settlement, transfer or exchange of the units.</div>
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      PLAN OF DISTRIBUTION</div>
    <div style="text-align: center; text-indent: 36pt; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We may sell the offered securities on a negotiated or competitive bid basis to or through underwriters or dealers. We
      may also sell the securities directly to institutional investors or other purchasers or through agents. We will identify any underwriter, dealer, or agent involved in the offer and sale of the securities, and any applicable commissions, discounts and
      other terms constituting compensation to such underwriters, dealers or agents, in a prospectus supplement.</div>
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    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We may distribute our securities from time to time in one or more transactions:</div>
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    <div>
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              <div style="text-align: justify; line-height: 1.25;">at market prices prevailing at the time of sale;</div>
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      </table>
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                    <div style="line-height: 1.25;">at prices related to such prevailing market prices; or</div>
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              </tr>

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              <tr>
                <td style="width: 53.85pt; vertical-align: top; align: right;">
                  <div style="margin-left: 36pt; line-height: 1.25;">&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div style="text-align: justify; line-height: 1.25;">
                    <div style="line-height: 1.25;">at negotiated prices.</div>
                  </div>
                </td>
              </tr>

          </table>
        </div>
      </div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Only underwriters named in the prospectus supplement are underwriters of our securities offered by the prospectus
      supplement.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">If underwriters are used in the sale of our securities, such securities will be acquired by the underwriters for
      their own account and may be resold from time to time in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying prices determined at the time of sale. Unless stated otherwise in a prospectus
      supplement, the obligation of any underwriters to purchase our securities will be subject to certain conditions and the underwriters will be obligated to purchase all of the applicable securities if none are purchased. If a dealer is used in a sale,
      we may sell our securities to the dealer as principal. The dealer may then resell the securities to the public at varying prices to be determined by the dealer at the time of resale. In effecting sales, dealers engaged by us may arrange for other
      dealers to participate in the resales.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We or our agents may solicit offers to purchase securities from time to time. Unless stated otherwise in a prospectus
      supplement, any agent will be acting on a best efforts basis for the period of its appointment. In addition, we may enter into derivative, sale or forward sale transactions with third parties, or sell securities not covered by this prospectus to
      third parties in privately negotiated transactions. If the applicable prospectus supplement indicates, in connection with such transaction, the third parties may, pursuant to this prospectus and the applicable prospectus supplement, sell securities
      covered by this prospectus and the applicable prospectus supplement. If so, the third party may use securities borrowed from us or others to settle such sales and may use securities received from us or others to close out any related short positions.
      We may also loan or pledge securities covered by this prospectus and the applicable prospectus supplement to third parties, who may sell the loaned securities or, in the event of default in the case of a pledge, sell the pledged securities pursuant
      to this prospectus and the applicable prospectus supplement. The third party in such transactions will be an underwriter and will be identified in the applicable prospectus supplement or a in a post-effective amendment.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In connection with the sale of our securities, underwriters or agents may receive compensation (in the form of
      discounts, concessions or commissions) from us or from purchasers of securities for whom they may act as agents. Underwriters may sell securities to or through dealers, and such dealers may receive compensation in the form of discounts, concessions
      or commissions from the underwriters and/or commissions from the purchasers for whom they may act as agents. Underwriters, dealers and agents that participate in the distribution of our securities may be deemed to be &#8220;underwriters&#8221; as that term is
      defined in the Securities Act, and any discounts or commissions received by them from us and any profits on the resale of the shares by them may be deemed to be underwriting discounts and commissions under the Securities Act. Compensation as to a
      particular underwriter, dealer or agent might be in excess of customary commissions and will be in amounts to be negotiated in connection with any transaction involving our securities. We will identify any such underwriter or agent, and we will
      describe any such compensation paid, in the related prospectus supplement.&#160; Maximum compensation to any underwriters, dealers or agents will not exceed any applicable Financial Industry Regulatory Authority limitations.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Underwriters, dealers and agents may be entitled, under agreements with us, to indemnification against and
      contribution toward payment of certain civil liabilities, including liabilities under the Securities Act.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">If stated in a prospectus supplement, we will authorize agents and underwriters to solicit offers by certain
      specified institutions or other persons to purchase our securities at the public offering price set forth in the prospectus supplement pursuant to delayed delivery contracts providing for payment and delivery on a specific date in the future.
      Institutions with whom such contracts may be made include commercial savings banks, insurance companies, pension funds, investment companies, educational and charitable institutions and other institutions, but shall in all cases be subject to our
      approval. Such contracts will be subject only to those conditions set forth in the prospectus supplement, and the prospectus supplement will set forth the commission payable for solicitation of such contracts. The obligations of any purchaser under
      any such contract will be subject to the condition that the purchase of the securities shall not be prohibited at the time of delivery under the laws of the jurisdiction to which the purchaser is subject. The underwriters and other agents will not
      have any responsibility in respect of the validity or performance of such contracts.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">9</font></div>
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        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">If underwriters or dealers are used in the sale, until the distribution of our securities is completed, Commission
      rules may limit the ability of any such underwriters and selling group members to bid for and purchase the securities. As an exception to these rules, representatives of any underwriters are permitted to engage in certain transactions that stabilize
      the price of the securities. Such transactions may consist of bids or purchases for the purpose of pegging, fixing or maintaining the price of the securities. If the underwriters create a short position in the securities in connection with the
      offering (in other words, if they sell more shares than are set forth on the cover page of the prospectus supplement), the representatives of the underwriters may reduce that short position by purchasing securities in the open market. The
      representatives of the underwriters also may elect to reduce any short position by exercising all or part of any over-allotment option we may grant to the underwriters, as described in the prospectus supplement.&#160; In addition, the representatives of
      the underwriters may impose a penalty bid on certain underwriters. This means that if the representatives purchase securities in the open market to reduce the underwriters&#8217; short position or to stabilize the price of our securities, they may reclaim
      the amount of the selling concession from the underwriters who sold those securities as part of the offering. In general, purchases of a security for the purpose of stabilizing or to reduce a short position could cause the price of the security to be
      higher than it might be in the absence of such purchases. The imposition of a penalty bid might also have the effect of causing the price of the securities to be higher than it would otherwise be. If commenced, the representatives of the underwriters
      may discontinue any of the transactions at any time.&#160; These transactions may be effected on any exchange on which our securities are traded, in the over-the-counter market, or otherwise.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Certain of the underwriters or agents and their associates may engage in transactions with and perform services for
      us or our affiliates in the ordinary course of their respective businesses.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="EXPENSES"><!--Anchor--></a>EXPENSES</div>
    <div style="text-align: center; text-indent: 36pt; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The following table sets forth the estimated fees and expenses payable by us in connection with the distribution of
      the securities being registered. We have estimated all amounts except the Commission registration fee.</div>
    <div style="line-height: 1.25">&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" style="width: 80%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z34e642bb214648bc8aef4d0d3c49e664">

        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: #CCEEFF; width: 88%;">
            <div style="line-height: 1.25;">SEC registration fee</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="line-height: 1.25;">(1</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="line-height: 1.25;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: #FFFFFF; width: 88%;">
            <div style="line-height: 1.25;">Legal fees and expenses</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: #FFFFFF; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" style="background-color: #FFFFFF; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="line-height: 1.25;">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: #FFFFFF; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: #CCEEFF; width: 88%;">
            <div style="line-height: 1.25;">Accounting fees and expenses</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="line-height: 1.25;">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: #FFFFFF; width: 88%;">
            <div style="line-height: 1.25;">Miscellaneous expenses</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: #FFFFFF; vertical-align: bottom; width: 1%;" colspan="1">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" style="background-color: #FFFFFF; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
            <div style="line-height: 1.25;">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: #FFFFFF; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: #CCEEFF; width: 88%; padding-bottom: 2px;">
            <div style="line-height: 1.25; font-weight: bold;">Total</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;" colspan="1">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;" colspan="1">
            <div style="line-height: 1.25;">*</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 2px;" colspan="1">&#160;</td>
        </tr>

    </table>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; line-height: 1.25;">(1) Previously paid. See Footnote (8) to the &#8220;Calculation of Registration Fee&#8221; table on the cover page of this registration statement.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; line-height: 1.25;">* These fees and expenses are calculated based on the number of issuances and amount of securities offered and accordingly cannot be
      estimated at this time.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In addition, we anticipate incurring additional expenses in the future in connection with the offering of our
      securities pursuant to this prospectus.&#160;Any such additional expenses will be disclosed in each applicable prospectus supplement<font style="background-color: #FFFFFF;"> for the offering
        of our securities under this prospectus</font>.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="LEGALMATTERS"><!--Anchor--></a>LEGAL MATTERS</div>
    <div style="text-align: center; text-indent: 36pt; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-indent: 36pt; line-height: 1.25;"><font style="background-color: #FFFFFF;">Certain </font><font style="background-color: #FFFFFF;">legal matters </font><font style="background-color: #FFFFFF;">with respect to Israeli
        law </font><font style="background-color: #FFFFFF;">and with respect to the validity of the offered </font><font style="background-color: #FFFFFF;">securities under Israeli law will be passed upon for us by Shibolet &amp; Co., Tel Aviv, Israel.&#160;&#160;</font><font style="background-color: #FFFFFF;">Certain
        legal matters with respect to New York law, the validity of the debt securities under New York law, and U.S. federal securities law will be passed upon for us by Kramer Levin Naftalis &amp; Frankel LLP, New York, New York</font><font style="background-color: #FFFFFF;">. Additional legal matters may be passed upon for us or any underwriters, dealers or agents, by counsel that we will name in an applicable prospectus
        supplement</font>.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="EXPERTS"><!--Anchor--></a>EXPERTS</div>
    <div style="text-align: center; text-indent: 36pt; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-indent: 36pt; line-height: 1.25;">The consolidated financial statements of Ceragon Networks Ltd. as of December 31, 2019 and 2018, and for each of the
      years in the three-year period ended December 31, 2019, are incorporated by reference herein in reliance upon the reports of Kost Forer Gabbay &amp; Kasierer, a member of Ernst &amp; Young Global, independent registered public accounting firm,
      incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing. The consolidated financial statements of Ceragon America Latina Ltda. as of December 31, 2018, and for the year then ended, are incorporated
      by reference herein in reliance upon the reports of Mazars Auditors Independence S.S., incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">10</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 0.2pt; line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="WHEREYOUCANFINDMOREINFORM"><!--Anchor--></a>WHERE YOU CAN FIND MORE INFORMATION<br>
      AND INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We are an Israeli company and are a &#8220;foreign private issuer&#8221; as defined in Rule 3b-4 under the Exchange Act.&#160;&#160;As a
      result, our proxy solicitations are not subject to the disclosure and procedural requirements of Regulation 14A under the Exchange Act, and transactions in our equity securities by our officers and directors are exempt from Section 16 of the Exchange
      Act.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In addition, we are not required to file reports and financial statements with the Commission as frequently or as
      promptly as U.S. companies whose securities are registered under the Exchange Act.&#160;However, we file with the Commission an Annual Report on Form 20-F containing financial statements audited by an independent registered public accounting firm.&#160;We also
      furnish reports of Foreign Private Issuer on Form 6-K containing unaudited financial information for the first three quarters of each fiscal year and other material information that we distribute, or that is required to be distributed by us, to our
      shareholders.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Commission maintains a website that contains information we file electronically with the Commission, which you
      can access over the Internet at http://www.sec.gov.&#160;You may also access the information we file electronically with the Commission through our website at http://www.ceragon.com.&#160;The information contained on, or linked from our website, does not form
      part of this prospectus.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">This prospectus is part of a registration statement on Form F-3 filed by us with the Commission under the Securities
      Act. As permitted by the rules and regulations of the Commission, this prospectus does not contain all the information set forth in the registration statement and the exhibits thereto filed with the Commission. For further information with respect to
      us and the securities offered hereby, you should refer to the complete registration statement on Form F-3, which may be obtained from the locations described above. Statements contained in this prospectus or in any prospectus supplement about the
      contents of any contract or other document are not necessarily complete. If we have filed any contract or other document as an exhibit to the registration statement or any other document incorporated by reference in the registration statement, you
      should read the exhibit or document for a more complete understanding of the document or matter involved. Each statement regarding a contract or other document is qualified in its entirety by reference to the actual document.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Commission allows us to &#8220;incorporate by reference&#8221; the information we file with it, which means that we can
      disclose important information to you by referring you to those documents. The information incorporated by reference is considered to be part of this prospectus, and later information filed with the Commission will update and supersede this
      information. The documents listed below and any future filings made with the Commission under Section 13(a), 13(c), 14, or 15(d) of the Exchange Act until the offering is terminated comprise the incorporated documents:</div>
    <div style="line-height: 1.25">&#160;</div>
    <div>
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          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div style="margin-left: 18pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">our Annual Report on Form 20-F for the fiscal year ended December 31, 2019.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="za095fa70e80c4c31b7b88626e3dd2f16" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div style="margin-left: 18pt; line-height: 1.25;">&#8226;</div>
              <div style="line-height: 1.25">&#160;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;"><font style="background-color: #FFFFFF;">the description of our
                  ordinary shares </font><font style="background-color: #FFFFFF;">(i) contained in </font><font style="background-color: #FFFFFF;">Amendment No. 2 to our Registration Statement on Form F-1 (File No. 333-12312), originally filed with the Commission on August 3, 2000, as updated by (ii) Exhibit 2.1 to the Annual Report on Form 20-F for the fiscal
                  year ended December 31, 2019, and any amendment or report filed for the purpose of further updating that description; and</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div style="margin-left: 18pt; line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;"><font style="background-color: #FFFFFF;">our Report of Foreign Private Issuer on Form 6-K furnished to the Commission on April
                  6, 2020.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Any statement contained in any document incorporated by reference herein shall be deemed to be modified or superseded
      for purposes of this prospectus to the extent that a statement contained in this prospectus or any prospectus supplement modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or
      superseded, to constitute a part of this prospectus.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We will provide you without charge, upon your written or oral request, a copy of any of the documents incorporated by
      reference in this prospectus, other than exhibits to such documents which are not specifically incorporated by reference into such documents.&#160;&#160;Please direct your written or telephone requests to us at Ceragon Networks Ltd., 24 Raoul Wallenberg
      Street, Tel Aviv 6971920, Israel. Tel.: 011-972-3-543-1000, Attention: Ran Vered, Chief Financial Officer.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">11</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="ENFORCEABILITYOFCIVILLIAB"><!--Anchor--></a>ENFORCEABILITY OF CIVIL LIABILITIES</div>
    <div style="text-align: center; text-indent: 36pt; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We are incorporated under the laws of the State of Israel. Service of process upon our directors and officers, almost
      all of whom reside outside the United States, may be difficult to obtain within the United States. Furthermore, because the majority of our assets and investments, all of our directors and almost all of our executives and officers are located outside
      the United States, any judgment obtained in the United States against us or any of our directors or officers not residing in the United States, may not be collectible within the United States. It may be difficult to assert U.S. securities law claims
      in original actions instituted in Israel. Israeli courts may refuse to hear a claim based on a violation of U.S. securities laws because Israel is not the most appropriate forum to bring such a claim. In addition, even if an Israeli court agrees to
      hear a claim, it may determine that Israeli law, and not U.S. law, is applicable to the claim. If U.S. law is found to be applicable, the content of applicable U.S. law must be proved as a fact, which can be a time-consuming and costly process.
      Certain matters of procedure will also be governed by Israeli law. There is little binding case law in Israel addressing these matters.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Subject to specified time limitations and legal procedures, Israeli courts may enforce a U.S. final judgment in a
      civil matter, including a judgment based upon the civil liability provisions of the U.S. securities laws, and including a judgment for the payment of compensation or damages in a non-civil matter, provided that:</div>
    <div style="line-height: 1.25">&#160;</div>
    <div>
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            <td style="width: 18pt; vertical-align: top; align: right;">
              <div style="line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the judgment was given by a court which was, according to the laws of the state of the court, competent to give it;</div>
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    <div>
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            <td style="width: 18pt; vertical-align: top; align: right;">
              <div style="line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the judgment is executory in the state in which it was given;</div>
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    <div>
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          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">
              <div style="line-height: 1.25;">&#8226;</div>
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            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the judgment is no longer appealable;</div>
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            <td style="width: 18pt; vertical-align: top; align: right;">
              <div style="line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the judgment was not given by a court that is not competent to do so under the rules of private international law applicable
                in Israel;</div>
            </td>
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    <div>
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          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">
              <div style="line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">there has been due process;</div>
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            <td style="width: 18pt; vertical-align: top; align: right;">
              <div style="line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the obligation imposed by the judgment is enforceable according to the rules relating to the enforceability of judgments in
                Israel and the substance of the judgment is not contrary to public policy;</div>
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    <div>
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          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">
              <div style="line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">the judgment was not obtained by fraud and does not conflict with any other valid judgment in the same matter between the same
                parties; and</div>
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    <div>
      <table cellspacing="0" cellpadding="0" id="zb9186c52b7974c44b8140dcae6e0ef2c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">
              <div style="line-height: 1.25;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">an action between the same parties in the same matter is not pending in any Israeli court or tribunal at the time the lawsuit
                is instituted in the U.S. court.</div>
            </td>
          </tr>

      </table>
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    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Even if these conditions are satisfied, an Israeli court will not enforce a foreign judgment if it was given in a
      state whose laws do not provide for the enforcement of judgments of Israeli courts (subject to exceptional cases) or if its enforcement is likely to prejudice the sovereignty or security of the State of Israel.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">If a foreign judgment is enforced by an Israeli court, it generally will be payable in Israeli currency, which can
      then be converted into non-Israeli currency and transferred out of Israel. The usual practice in an action before an Israeli court to recover an amount in a non-Israeli currency is for the Israeli court to issue a judgment for the equivalent amount
      in Israeli currency at the rate of exchange that applies on the date of the judgment, but the judgment debtor may make payment in foreign currency. Pending collection, the amount of the judgment of an Israeli court stated in Israeli currency
      ordinarily will be linked to the Israeli consumer price index plus interest at the annual statutory rate set by Israeli regulations prevailing at the time. Judgment creditors must bear the risk of unfavorable exchange rates.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">12</font></div>
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        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25;"><img width="192" height="49" src="image1.jpg"></div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25">&#160;
      <hr align="center" style="height: 2px; width: 25%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">PROSPECTUS</div>
    <div style="text-align: center; line-height: 1.25;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br style="line-height: 1.25;">
      <hr align="center" style="height: 2px; width: 25%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">May 6, 2020</div>
    <div style="line-height: 1.25">&#160;
      <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
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