6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

Report Of Foreign Private Issuer

Pursuant To Rule 13a-16 Or 15d-16 Of

The Securities Exchange Act Of 1934

FOR THE MONTH OF OCTOBER, 2009

COMMISSION FILE NUMBER:  001-34491

DRAGONWAVE INC.

(Translation of registrant’s name into English)

411 Legget Drive, Suite 600

Ottawa, Ontario, K2K 3C9

Canada

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:  ¨Form 20-FxForm 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  o

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:  ¨ Yes  x No

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):  n/a

EXHIBITS

The following exhibit is a press release issued by DragonWave Inc.

Exhibit Number	Description
99.1	Press release dated October 20, 2009

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

DRAGONWAVE INC.
(Registrant)
By:	/s/ Russell Frederick
Name:	Russell Frederick
Title:	Chief Financial Officer

Date:  October 20, 2009

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EX-99.1

Exhibit 99.1

DragonWave Completes Equity Financing

Ottawa, Ontario, October 20, 2009 — DragonWave Inc. (TSX: DWI; NASDAQ: DRWI) (“DragonWave” or the “Company”) announced today that it has completed its previously announced equity offering (the “Offering”).  Under the terms of the Offering, DragonWave issued and sold 7,493,562 common shares at US$10.00 per share for aggregate gross proceeds of approximately US$75 million and net proceeds to the Company of approximately US$71 million, before deducting the expenses of the Offering.

Under the Offering, certain shareholders of DragonWave sold 5,478,738 common shares for aggregate gross proceeds of approximately US$55 million and aggregate net proceeds to such shareholders of approximately US$51 million.

DragonWave’s registration statement became effective under the United States Securities Act of 1933, as amended, on October 14, 2009.  Copies of the registration statement and the prospectus can be accessed through the SEC’s website at www.sec.gov, and copies of the Canadian supplemented short form PREP prospectus are available at www.sedar.com.

Canaccord Adams and Piper Jaffray & Co. acted as co-lead managers for the syndicate of underwriters in connection with the Offering.

ABOUT DRAGONWAVE

DragonWave® is a leading provider of high-capacity packet microwave solutions that drive next-generation IP networks.  DragonWave’s carrier-grade point-to-point packet microwave systems transmit broadband voice, video and data, enabling service providers, government agencies, enterprises and other organizations to meet their increasing bandwidth requirements rapidly and affordably.  The principal application of DragonWave’s products is wireless network backhaul.  Additional solutions include leased line replacement, last mile fiber extension and enterprise networks.  DragonWave’s corporate headquarters are located in Ottawa, Ontario, with sales locations in Europe, the Middle East and North America. DragonWave’s web site is http://www.dragonwaveinc.com.

DragonWave® is a registered trademark of DragonWave Inc.

Caution Regarding Forward-Looking Statements

Certain statements in this release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include statements as to the potential benefits of, and demand for, DragonWave’s products. These statements are subject to certain assumptions, risks and uncertainties, including our view of the relative position of DragonWave’s products compared to competitive offerings in the industry. Readers are cautioned not to place undue reliance on such statements. Risk factors that may cause the actual results, performance, achievements or developments of DragonWave to differ materially from the results, performance, achievements or developments expressed or implied by such statements can be found in the public documents filed by DragonWave with Canadian securities regulatory authorities which are available on www.sedar.com. DragonWave assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.

Media Contacts

Russell Frederick

Chief Financial Officer

DragonWave Inc.

(613) 599-9991 ext. 2253

rfrederick@dragonwaveinc.com