TEL-AVIV, Israel, Jan. 30, 2020 /PRNewswire/ -- Ellomay Capital
Ltd. (NYSE American: ELLO) (TASE:
ELLO) ("Ellomay" or
the "Company"), a renewable energy and power
generator and developer of renewable energy and power projects in
Europe and Israel, today
announced that it has received and accepted, following the approval
of the Company's Board of Directors, commitments from two leading
Israeli institutional investors to participate in a private
placement of ordinary shares and warrants to purchase ordinary
shares of the Company (the "Private Placement").
The price per share in the Private Placement was set at
NIS 70 (approximately $20.2). The Company is expected to issue the
participants in the Private Placement an aggregate of 715,000
ordinary shares and warrants to purchase an additional 178,750
ordinary shares (the "Warrants"). The Warrants are
exercisable for a period of one year, with an exercise price of
NIS 80 (approximately $23.1) per ordinary share. The gross proceeds to
the Company in connection with the Private Placement are expected
to be NIS 50.05 million
(approximately $14.5 million). The
Company intends to use the net proceeds from this offering for
general corporate purposes.
The closing of the Private Placement is subject to the receipt
of regulatory approvals, which are expected to be obtained during
February 2020.
The Private Placement described in this report, if made, will
be made in Israel only and not to
U.S. persons. The ordinary shares, if sold, 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. Nothing in this press release constitutes a public offering
or an invitation to purchase the Company's securities.
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
the Company's forward-looking statements, including the
non-occurrence of the conditions precedent. 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. 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: ellogu@ellomay.com
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SOURCE Ellomay Capital Ltd