09/09/2009 - Upon Completion of the Agreement, Averbuch will pay 100 thousand dollars to Yorkville Advisors as a "commitment fee". Shalom Averbuch: "the agreement assists the company's business development"
Original Title
Yorkville Advisors Invests 15 million Dollars in Averbuch
09/09/2009 - Upon Completion of the Agreement, Averbuch will pay 100 thousand dollars to Yorkville Advisors as a "commitment fee". Shalom Averbuch: "the agreement assists the company's business development"
09/09/2009 - Upon Completion of the Agreement, Averbuch will pay 100 thousand dollars to Yorkville Advisors as a "commitment fee". Shalom Averbuch: "the agreement assists the company's business development"
Upon Completion of the Agreement, Averbuch will pay 100 thousand dollars to Yorkville as a "commitment fee". Shalom Averbuch: "the agreement assists the company's business development"
Michel Udi Averbuch's market equity at the beginning of
_____________________________________________ trade today is 394 million NIS. Translated from Calcalist, published on 6.9.09, 10:33 Shalom Averbuch, the company's director Yorkville investment fund announced this general said, in the company's public morning (Sunday) of another investment in Israel. announcement that "the investment agreement will The company invests up to 15 million Dollars in assist the group's business development and at the the stocks of wooden products importer same time, will enable to decrease the obligo with Averbuch. Like the company's previous the banks and the funding costs. Also we are agreements with Hatehof, Tower and Pangaea examining the option of expanding the company's this agreement is also a SEDA, according to which storage areas – which will enable the reception of the company receives funds from Yorkville in new wood products based on our loyal and reliable exchange for stocks, when Averbuch can customers' database, thus expressing the advantage determine the date of investment according to its in size" desire, for a period of 3 years. Wayne Coy, Yorkville's senior vice president Any demand Averbuch places for the funds is stated that "we considered the name 'Averbuch' a limited to 125 thousand dollars each time, and name which is identified with quality and leading there should be a time interval of five days a reputational market in Israel. We look forward to between the various demands for funding. The continue the success and to productive work with price is determined according to the weighted the company's management". average of the Averbuch stock price for the five days prior to the demand and a discount of 5.5% of the average price is added. Yorkville limits the investment to up to 4.99% of all of Averbuch's stocks.
The companies did reach an agreement, but it
is pending the publication of a shelf forecast of the company, and the affirmation of the Israeli Securities Authority. Upon its validation, Averbuch will pay 300 thousand dollars to Yorkville. One third will be paid upon the initiation of the agreement, one third will be paid six months later, and one third will be paid if the investment exceeds the threshold of 10 million dollars. The agreement should be finalized and signed up to 1.11.2009.