Yanivim, the new Harit Fund, reports today that it has successfully raised capital in a public tender in the amount of NIS 88.3 million. NIS per share, and 500 warrants (Series 3) which were granted without consideration. The warrants can be exercised in the ratio of a warrant to one share (1: 1) and at an exercise price of NIS 2.15. The last date for the exercise of the warrants is December 15, 2022.
As part of the tender, a total of 232 orders were received for the purchase of 58,326 units with a total monetary value of approximately NIS 109.7 million, the price per unit set in the tender is NIS 1,880 per unit. The Company has decided to respond to 191 orders to purchase 46,977 units, including 46,977,000 shares and 23,488,500 warrants (Series 3) of the Company. The immediate consideration for the company is approximately NIS 88.3 million gross and the expected future consideration for the company, assuming that the full options (Series 3) will be exercised for the shares will amount to approximately NIS 50.5 million.
Leading the fundraising: Discount Capital Underwriting, Rosario Capital, Apex IPOs and Menorah Underwriting.
At the beginning of last week, Manivim reported an agreement to purchase the entire shares of Meitav Dash in Migdal Manivim-Meitav Ltd., which constitute 40% of the issued and paid-up capital of Migdal Manivim-Meitav. After the acquisition is completed, Manivim will hold full (100%) the issued and paid-up share capital of Migdal Manivim-Meitav, which owns the rights to an office tower in an area of approximately 25,000 square meters located near the Raanana South junction. The full annual NOI (100%) expected from the tower at full capacity in a full final is estimated by yields at about NIS 22-27 million.
The Manivim management stated: “We thank the investing public for the trust and support we receive from them throughout. The fundraising money will be used for the company’s day-to-day operations, investment in adjustments to tenants in the new Manivim tower and the purchase of new properties.”