G. Willi-Food International Ltd. Announces Signing of Agreements for $10.0 Million Private Placement Financing
March 05 2007 - 6:12AM
PR Newswire (US)
YAVNE, Israel, September 21 /PRNewswire-FirstCall/ -- G. Willi-Food
International Ltd. (NASDAQ: WILC; the "Company" or "Willi-Food"),
one of Israel's largest food importers and a single-source supplier
of one of the world's most extensive range of quality kosher food
products, today announced that it has entered into agreements with
institutional investors for the private placement of approximately
1,653,000 ordinary shares of G. Willi-Food International Ltd. at a
price of $6.05 per share for gross proceeds of approximately $10.0
million, before payment of placement agent commissions and other
offering expenses. The financing is expected to close during the
next ten to 15 days. As part of the transaction, investors will
receive warrants to purchase approximately 496,000 additional
shares at an exercise price of $8.00 per share. The warrants will
remain exercisable for a period of three years from the closing of
the financing. The warrants will be subject to call at the option
of the Company, if among other things, following one year from the
closing the registration statement is effective and the volume
weighted average trading price of the Company's common stock is
$16.00 or higher for 20 consecutive trading days. Because the
agreement requires certain obligations be met before closing, there
can be no assurances that the transactions contemplated by the
Securities Purchase Agreement and described herein will close on
the terms described herein, if at all. The securities to be issued
by G. Willi-Food International Ltd. in the private placement have
not been registered under the Securities Act of 1933, as amended,
and may not be offered or sold in the United States, absent
registration under the Securities Act and applicable state
securities laws or an applicable exemption from those registration
requirements. G. Willi-Food International Ltd. has agreed to file a
registration statement with the Securities and Exchange Commission
to register the resale of the shares of common stock issued in the
private placement, as well as the shares of common stock issuable
upon the exercise of the warrants issued in the private placement.
This notice is issued pursuant to Rule 135c under the Securities
Act and shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of these securities
in any state in which such offer, solicitation or sale, would be
unlawful prior to the registration or qualification under the
securities laws of any such state. About G. Willi-Food
International, Ltd. G. Willi-Food International Ltd. is one of
Israel's largest food importers and a single-source supplier of one
of the world's most extensive ranges of quality kosher food
products. It currently imports, markets and distributes more than
400 food products manufactured by some 100 top-tier suppliers
throughout the world to more than 1,000 customers. The Company
excels in identifying changing tastes in its markets and sourcing
high-quality kosher products to address them. For more information,
please visit the Company's website at http://www.willi-food.co.il/.
Except for historical information contained herein, the matters set
forth in this press release are forward-looking statements that are
dependent on certain risks and uncertainties, including such
factors, among others, as market acceptance, market demand,
pricing, competition, changing economic conditions and other risk
factors detailed in the Company's SEC filings. Contact: G. Willi
Food International Ltd. Gil Hochboim, CFO +972-8-932-2233 IR
contact: The Global Consulting Group Christopher Chu
+1-646-284-9426 DATASOURCE: G Willi Food International Ltd CONTACT:
G. Willi Food International Ltd. Gil Hochboim, CFO,
+972-8-932-2233, ; IR contact: The Global Consulting Group,
Christopher Chu, +1-646-284-9426,
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