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Kadimastem successfully completes an IPO and raised $5.5 Million USD

Jun. 9, 2013

Nes Ziona, Israel, June 10, 2013 - Kadimastem Ltd. (TASE:KDST), focusing on the development and industrial commercialization of products based on human embryonic stem cells, announced today the closing of its initial public offering on the Tel Aviv Stock Exchange. The tender, which included 3.1 million shares and 2 option series, recorded demands in the scope of approximately 5.5 million USD. The tender price closed at 1.81 USD per share.The first option series is for a period of two years from the date of the offering. The additional series is for a period of four years from the date of the offering.The company announced that the capital raised will be used to expand its current activities.Yossi ben Yossef, Kadimastem’s Co-Founder and CEO, stated: “We are happy with the results of the offering that, more than anything, reflect the investors’ confidence in the company’s unique capabilities. This is the first IPO in the Tel Aviv Stock Exchange in 18 months. I would like to thank our investors for their participation; we view them as critical to our future success.”Rosario Underwriting Services acted as sole book-running manager for the offering.  Discount Underwriting & Issuing LTD and Menora Mivtachim Underwriters & Management Ltd acted as co-managers for the offeringThe attorneys accompanying the offering on behalf of the Gornitzky & Co. Law Firm: Adv. Sharon Werker-Sagi and Adv. Etai Mashiach.


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