Today, Michman announced the raising of capital from the Nokd Fund. Only this year, Gamla Harel and Gamma Management and Clearing were issued.
Is this a market failure ?!
Credit companies are flooding the Israeli stock market and it is understandable why, companies want proximity to cheap and available money that can significantly affect their profits, this is a very strong incentive, recently institutional investors began to discover the field and they enter the market aggressively which is great for them, they have cheap money And much of it – and so they can yield a handsome return from the hottest industry in Israel.
Michman reported that she successfully completed raising capital by way of a private placement led by Keren Nokd and raised a total of NIS 14.1 million, which constitutes approximately 5.41% of the company’s share capital after the allotment, and approximately 4.62% in full dilution.
The Nokd Fund was allotted 6,857 shares (approximately NIS 12 million), constituting approximately 4.60% of the Company’s share capital, to which its fund fund was allocated 1,200 shares of the Company (approximately NIS 2.1 million), constituting approximately 0.81% of the share capital. of the company.
The allotment of shares was made at a share price of NIS 1,750, 5.7% lower than the share price at the end of the trading day before the transaction, which was NIS 1,854.9 per share.