Exalenz Ltd. (TASE:EXEN), formerly BreathID, has raised NIS 18.7 million in a private placement to institutional investors and parties at interest, at NIS 5.19 per share, a 3% discount on the company's share price of NIS 5.35 at the start of trading yesterday.
Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) and Prisma Capital Markets will jointly invest NIS 16.79 million for a 14.82% stake (9.92% for Migdal, and 4.94% for Prisma). The company's parties at interest, Moshe (Mori) Arkin, Hadasit - The Technology Transfer Company of Hadassah Medical Organization will invest NIS 1.81 million.
Exalenz develops systems that identify and manage specific digestive and liver conditions by diagnosing changes in the patient's exhaled breath. The company was founded as a spin-off from Oridion Systems Ltd. (SWX: ORIDN), which holds a 14% stake but did not participate in the latest share offering.
Exalenz's share was unchanged at NIS 5.62 in trading this morning on the Tel Aviv Stock Exchange (TASE), giving the company a market cap of NIS 122.9 million.
Published by Globes [online], Israel business news - www.globes.co.il - on December 4, 2007
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