Surveillance Company Ability Looking to Raise Up to $50 Million in Shelf Offering
Earlier this month, the Tel Aviv-based company announced it has received a delisting determination from Nasdaq
Tel Aviv-based Ability Inc., a company providing interception, geolocation, and cyber intelligence products to security agencies, is looking to raise up to $50 million in a shelf offering, according to a prospectus submitted to the U.S. Securities and Exchange Commission on Monday.The company, which is listed on both Nasdaq and Tel Aviv, received a delisting determination from Nasdaq earlier this month due to its failure to maintain a minimum of $2,500,000 in shareholders’ equity by its July 11 deadline. As a result, the company was subject to delisting by July 23 but has requested a hearing. Ability was trading at $4.40 on Nasdaq on Wednesday market close.