Yorkville Advisors to invest $5m in Glycominds

Glycominds develops blood sugar analysis systems.

Blood sugar analysis developer Glycominds Ltd. (TASE: GLCM) has signed a letter of invest for a $5 million Standby Equity Distribution Agreement (SEPA) with Yorkville Advisors LLC unit YA Global Investments LP.

Yorkville will invest up to $5 million in Glycominds over two yeas, in exchange for share allotments, up to a maximum holding of 4.99% in the company. Glycominds will, from time to time, ask Yorkville to invest up to $500,000, or 200% of the average daily trading volume during the pricing period, or an amount mutually agreed upon, whichever is lower.

Glycominds share price fell 0.5% in morning trading to NIS 0.61, giving a market cap of NIS 21 million.

Published by Globes [online], Israel business news - www.globes-online.com - on August 17, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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