Israeli food importer G. Willi-Food has entered into an agreement with institutional investors for the private placement of approximately 1.653m G. Willi-Food shares at US$6.05 per share. The deal will generate proceeds of approximately $10m.
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 over the next three years.
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