Ehud Barak’s cannabis company InterCure raises $11 million in private placement
Following the announcement, InterCure’s stock went up 7.76% by market close, Wednesday
Tzali Greenberg | 12:27 11.06.2020
The board of directors of biomed and medical cannabis company InterCure Ltd., chaired by former Israeli Prime Minister Ehud Barak, has approved the issuance of NIS 38.1 million (approximately $11 million) of new shares that will amount to 8.3% of its stock in a private placement, the company announced in a filing with the Tel Aviv Stock Exchange Wednesday. Following the announcement, InterCure’s stock went up 7.76% by market close. Controlling stakeholder Alex Rabinovich will pay NIS 15 million (approximately $4.3 million) to maintain control with a 32.91% stake following the placement. Yael Figel, wife of billionaire Gary Figel, will spend NIS 3.5 million (approximately $1 million) to maintain a 16.84% stake. Figel and Rabinovice both paid NIS 4.3 (approximately $1.25) per share, the market close price on Tuesday, while the rest of the investors paid NIS 4.13 (approximately $1.19).