Eildev Investments was not one of the first to realize the holding in the parent company Cyber Security with the merger to SPAC in an attempt to reap a profit on the investment in vain.
Only yesterday, Eildev completed the realization of its full holdings in Hav Security, after instead of receiving a value of $10 per share as promised prior to the merger by Hav and its entourage, including A-LAB who listened to Eli Reifman whispering – along with quite a few other investors, Eildav was forced to sell its holding at a loss at the price Much lower than promised.
After the PIPE investors did not transfer their share as promised, which was estimated at about 50 million dollars, the parent nevertheless started trading in New York, even though the funds were a condition precedent to the merger. So far, Hab has not been able to get the promised funds, but that’s not the story, but the merger that turned into a fiasco and wiped out millions of investors who believed in the dreams that Hab provided to the market.
The promises of the father’s previous CEO, Eyal Moshe, that the company trades at a low multiple relative to its dummy in the US, blossomed into the air along with his disappearance from the company’s front. Moshe’s absence was especially noticeable during the IPO itself, when the parent managers rang the bell at the American Stock Exchange, just before it became clear the extent of the injustice done to the investors, that instead of receiving a merged company at a value 6 times greater than that given by the investors in Tel Aviv, they received failure at best or fraud at worst in the form of a company with a lower value than that The stock exchange in Tel Aviv came out.
In 2021, Eildev sold Comsac, a company engaged in providing consulting services in the cyber field, to the father for NIS 70 million. Eildev reported yesterday that it is expected to record a pre-tax loss as a result of the investment in Hab in an amount estimated at NIS 5.5-6 million. And she is not alone. A request for a class action was filed against the company in the amount of NIS 91 million.