Evogene is developing advanced plant traits for crops.
B. Gaon Holdings Ltd. (TASE: GAON) cleantech fund AquAgro Fund LP is investing NIS 7.2 million in agro-biotechnology company Evogene Ltd. (TASE:EVGN). AquAgro is buying 1.1 million shares at a price of NIS 6.50 per share, giving it a 5.34% stake in the company. Evogene closed at NIS 4.50 yesterday. The share rose 0.6% by mid-afternoon today.
AquAgro also received 651,500 warrants exercisable for the same number of Evogene shares by the end of May 2011 at a strike price of NIS 11.05. Evogene has a put option to require AquAgro to buy up to $2 million worth of company shares.
Evogene uses computational genomics, molecular biology and advanced breeding methods to develop improved plant traits in crops.
Published by Globes [online], Israel business news - www.globes-online.com - on April 29, 2008
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