Incubator Maayan Ventures Ltd. (TASE:MAYN) has raised NIS 12,537,378 million from new and current shareholders through a placement of 16.1 million shares and 8 million options exercisable for the same number of shares at NIS 0.78 per share. The allotment amounts to 19.19% of the company's share capital, or 12.3%, fully diluted.
Maayan Venture's share was unchanged at NIS 0.83 by midday today, giving a market cap of NIS 63.5 million.
One investor invested NIS 6.1 million on condition that Maayan Ventures would raise a total of $4 million.
The amount raised was based on shekel-Canadian dollar exchange rate of NIS 3.6279/C$, and the amount raised can change based on movement in the exchange rate.
Prior to the investment, Siano Ltd. owned 11.9% of Maayan Ventures, Cambridge Capital II LLC owned 10.72%, Psagot Investment House Ltd. owned 9.22%, Delek Group Ltd. (TASE: DLEKG) unit Israel Phoenix Assurance Ltd. (TASE: PHOE1;PHOE5) owned 7.25%, and FBR Infinity II Partners LP owned 6.07%.
Published by Globes [online], Israel business news - www.globes-online.com - on December 27, 2009
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