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Successful Rights Offering for Kadimastem; Raised NIS 5.1M

The company's stakeholders invested a substantial sum of NIS 3.8M


Ness Ziona, Israel, 13 November 2014, Israeli biotechnology company Kadimastem (TASE: KDST) announces the results of the rights offering held yesterday, in which the company offered up to 13,986 right units to the company's shareholders.

Each unit included 206 shares at NIS 3.5 per share. 50.4% of the rights offered were exercised, and the proceeds amounted to NIS 5.1M. The company's stakeholders and management took part in the rights offering. Prof. Michel Revel, a controlling shareholder, the company's Chief Scientist and a director, invested NIS 912K. Yossi Ben Yossef, a controlling shareholder, the company's CEO and a director, invested NIS 500K. Mr. Julien Ruggeri, a controlling shareholder and a director in the company, invested NIS 1.9M. Avi Meizler, a director in the company, invested NIS 461K.

Yossi Ben-Yossef, the company's CEO, noted: "We have strong confidence in the company's potential, and therefore we, the founders and stakeholders in the company, invested significant sums in the rights offering".

© 2020 by Kadimastem

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