The price jumped on the TASE on the filing of a draft prospectus with the SEC.
Brainsway Ltd. (TASE:BRIN) has taken another step toward listing its shares on Nasdaq. On Friday, the developer of TMS (transcranial magnetic stimulation) treatments for neurological disorders filed a draft prospectus with the US Securities and Exchange Commission (SEC) for an offering. The company did not set a date, size, or company value for the offering.
Brainsway CEO Uzi Sofer said, "We're very pleased to reach this stage and submit a draft prospectus with the SEC. We consider a Nasdaq offering as an important milestone for the company, even as we are aware of the strategic importance of the Israeli capital market. We're going for an offering in the US in a calculated manner and not at any price."
Brainsway's share price rose 6.4% by mid-afternoon to NIS 7.98, giving a market cap of NIS 318 million.
Published by Globes [online], Israel business news - www.globes-online.com - on November 7, 2010
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