Imagesat raised $ 100 million at a lower value than planned

Imagesat, ISI, the satellite photography company controlled by the Phimie Foundation, raised $ 100 million tonight in an initial public offering, which included the sale of shares from the company’s existing shareholders.

Read more in Calcalist:

The offering was valued at $ 300 million, after the company first sought to raise $ 400-500 million. $ 66 million of the amount will go into the company’s coffers and NIS 33 million into the pockets of shareholders Phimie, IAI and Discount Capital.

Discount Underwriting and Barak Capital led the offering to Israeli investors. Nashitz Brands Nir law firm accompanied her as attorneys.

In exchange for the offering, the company will be used, among other things, to invest in completing the company’s satellite system in the coming years, and increasing its sales teams, while leveraging the strong momentum in the global space market and satellite services in particular.

The company’s chairman, Gilon Beck from the Phimie Foundation, said: “ImageSat is advancing another step and continuing the momentum of development and expansion.”

Noam Segal, the company’s CEO, said: “The success of the IPO will allow us to accelerate the company’s growth and continue to develop unique knowledge solutions and launch groundbreaking satellites.”

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