Optibase LTD. Announces Board Approval Of the Filing Of A Draft Prospectus With The Israel Securities Authority
Optibase Ltd. (NASDAQ: OBAS) (“Optibase” or the “Company”) today announced that its Board of Directors had authorized the filing of a draft prospectus with the Israel Securities Authority and the Tel Aviv Stock Exchange (“TASE”) in connection with an underwritten offering to the public in Israel of a series of notes convertible into ordinary shares. The offering would be made by Optibase only, and not by any selling shareholder. Prior to the offering of such series of notes, Optibase intends to list its ordinary shares for trade on the TASE. If the offering is completed, Optibase currently intends to raise up to a maximum amount of approximately $50 million, depending on market conditions. No final decision on an offering has been made and any offering is subject to the final approval of Optibase’s Board of Directors, the publishing of a final prospectus with the approval of the Israel Securities Authority and to the listing approval of the TASE.
The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.