TEL-AVIV, Israel, March 7, 2017 /PRNewswire/ --
- Updates aggregate offering
amount to up to NIS 125 million
Ellomay Capital Ltd. (NYSE MKT; TASE: ELLO)
("Ellomay" or the
"Company"), an emerging operator in the
renewable energy and energy infrastructure sector, today announced
that following the Company's previously announced publishing of a
final prospectus for the offering, in Israel only (the "Offering") of a new
Series B Debentures (the "Debentures") with the Israel
Securities Authority and the Tel Aviv Stock Exchange Ltd.
("TASE"), the Company completed an institutional and
classified investors bidding (the "Institutional
Tender").
At the Institutional Tender, the bidders submitted early
commitments to order approximately NIS 338.3
million par value of Debentures, of which the Company
accepted commitments to purchase an aggregate of NIS 98 million (approximately $26.6 million) par value, at an interest rate of
no more than 3.44% per annum. The Debentures will be sold at par
value. In consideration for making early commitments, the
institutional and classified investors will receive an early
commitment commission in the amount of 0.5%.
The aggregate amount that the Company expects to pay in
arrangement fees and other expenses in connection with the Offering
(assuming total proceeds of approximately NIS 125 million, or approximately $34 million), including the aforementioned early
commitment fee, is approximately NIS 1.7
million (approximately $0.5
million).
The early commitments received in the Institutional Tender are
binding. Unless and until the public tender will be completed and
the Company receives the approval for listing of the Debentures on
the TASE, the offers by the institutional and other classified
investors will not be accepted by the Company.
The date of the public tender, including the final structure of
the Offering, will be published in Israel by the Company in a Complementary
Notice in Hebrew. For additional details see the Form 6-K submitted
by the Company to the Securities and Exchange Commission on
February 28, 2017.
The public offering described in this press release will be
made in Israel only and not to
U.S. persons. The Debentures will not be registered under the U.S.
Securities Act of 1933, as amended, and will not be offered or sold
in the United States without
registration or applicable exemption from the registration
requirements according to the U.S. Securities Act of 1933. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy any debentures.
About Ellomay Capital Ltd.
Ellomay is an Israeli based company whose shares are registered
with the NYSE MKT and with the Tel Aviv Stock Exchange under the
trading symbol "ELLO." Since 2009, Ellomay Capital focuses
its business in the energy and infrastructure sectors
worldwide.
Information Relating to Forward-Looking Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties, including statements
that are based on the current expectations and assumptions of the
Company's management. All statements, other than statements of
historical facts, included in this press release regarding the
Company's plans and objectives, expectations and assumptions of
management are forward-looking statements. The use of certain
words, including the words "estimate," "project," "intend,"
"expect," "believe" and similar expressions are intended to
identify forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The Company
may not actually achieve the plans, intentions or expectations
disclosed in the forward-looking statements and you should not
place undue reliance on the Company's forward-looking statements.
Various important factors could cause actual results or events to
differ materially from those that may be expressed or implied by
our forward-looking statements. These and other risks and
uncertainties associated with the Company's business are described
in greater detail in the filings the Company makes from time to
time with Securities and Exchange Commission, including its Annual
Report on Form 20-F. Specifically, the forward-looking statements
relating to the execution of the Offering and the amount to be
raised are subject to uncertainties and assumptions about market
conditions and sufficient offers received for an adequate interest
rate. The actual conditions could lead to materially different
outcome than that set forth above. The forward-looking statements
are made as of this date and the Company does not undertake any
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise.
Contact:
Kalia Weintraub
CFO
Tel: +972(3)797-1111
Email: miria@ellomay.com
SOURCE Ellomay Capital Ltd