Multimatrix gets US fund investment commitment

Yorkville Advisors can invest in the company over two years.

Holding and investment company Multimatrix Ltd. (TASE: MLTX) has obtained an investment commitment of up to $6 million from US investment fund Yorkville Advisors LLC under a standby equity distribution agreement (SEDA). Yorkville Advisors senior managing director is Troy Rillo.

Multimatrix will from time to time allocate to Yorkville Advisors shares worth up to the amount of the investment for a period of up to two years from the publication of Multimatrix's shelf prospectus. Each stock allocation will be made in accordance with the company's needs and after it notifies Yorkville Advisors of the amount it needs to be injected. At least ten trading days must pass from the previous stock allocation.

Multimatrix's share price for each stock allocation will amount to 97% of the average price on the trading day of the announcement. No stock allocation will be made, which will result in Yorkville Advisors' holding in the company exceeding 4.99%.

Multimatrix rose 2.9% in morning trading today to NIS 3.22, giving a market cap of NIS 92 million.

Published by Globes [online], Israel business news - www.globes-online.com - on May 6, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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