April 2, 2020 | Yahoo Finance
Proceeds include a unilateral option for the investment of 6 million ILS by the company’s controlling shareholders and additional investors, including company Chair, Jonathan Kolber, Dr. Dadi Segal, CEO, and Ran Nussbaum.
TEL AVIV, Israel, April 2, 2020 /PRNewswire/ — Pharmaceutical company Panaxia Labs Israel Ltd. (Panaxia Israel, TASE: PNAX), the largest manufacturer of medical cannabis products in Israel, announced the successful completion of a 17 Million ILS private placement of common stock and warrants to Israeli Institutional Investors: the provident funds, mutual funds, and portfolio management entities of Mor Investment House and Noked Capital Hedge Fund. In connection with the offering, the Company issued 6,319,703 shares of the Company’s common stock at a purchase price per share of 2.69 ILS, and warrants to purchase an additional 5,055,762 shares of common stock at an exercise price of 4.00 ILS per share.
In addition, the company has been granted a unilateral option from controlling shareholders and investors, for an additional investment of a minimum of 6 million ILS of which will be returned to common stock and warrants under the same identical terms. Among the investors: Panaxia Israel’s Chairman, Mr. Jonathan Kolber, CEO Dr. Dadi Segal, General Manager Assi Rotbart, LL.B., CTO Dr. Eran Goldberg, Mr. Ran Nussbaum, and additional Israeli and foreign investors. Exercise of the option is subjected to, among other conditions, the approval of Panaxia Israel shareholders’ meeting.
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