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Elbit Medical Sells Additional 10% Stake to Investment Firm Exigent

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Elbit Medical Sells Additional 10% Stake to Investment Firm Exigent

Exigent acquired 22,139,017 Elbit Medical shares for a total sum of approximately $5 million, bringing its total stake in the holding company to 15%

CTech | 16:43  11.11.2018

Biomedical holding company Elbit Medical Technologies Ltd. has sold an additional 10% stake in the company to Jerusalem-based investment firm Exigent Capital Group, Elbit Medical announced in a filing with the Tel Aviv Stock Exchange on Thursday. In August, Exigent completed the acquisition of a 5% stake in Elbit Medical, buying 11,574,146 shares for NIS 11.1 million (approximately $3 million) at NIS 0.96 (approximately $0.26) per share. The additional stake consists of 22,139,017 shares, sold at the same rate for a total sum of NIS 21.25 million (approximately $5 million). In January, Elbit Medical subsidiary InSightec Ltd., which develops MR-guided focused ultrasound technology, announced the completion of a $150 million investment from Koch Industries Inc.

Elbit Medical Chairman Ron Hadassi. Photo: Amit Sha'al
Elbit Medical Chairman Ron Hadassi. Photo: Amit Sha'al צילום: עמית שעל

 

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