If the buyers exercise the options, they could control the company.
Aesthetic ultrasound treatment developer Applisonix Ltd. (TASE:APLS) raised $800,000 on Thursday at a company value of $8.5 million, before money, in a private placement of shares to private Israeli investors and a US company. The investors were allotted 1.9 million shares, amounting to 8.6% of the company.
The investors received warrants to invest up to $3.7 million. Two of the series of warrants are exercisable at $0.42 per share, and one series of warrants is exercisable at $0.61 per share, compared with Thursday's opening price of NIS 1.69 (about $0.45). If the buyers exercise the options, they could control the company.
Applisonix's share fell 2.7% at the opening today to NIS 1.58, giving a market cap of NIS 33 million, after falling 4% on Thursday.
Published by Globes [online], Israel business news - www.globes-online.com - on November 1, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009