Mazor Robotics Enters into Agreement with Investors to Receive up to $15 Million (press release)
Mazor Robotics Ltd. (TASE: MZOR), a developer of innovative surgical robots and complementary products, today announced that it has entered into an agreement regarding a private equity placement transaction of up to $15 million, to provide further investment capital and advance the Company’s efforts to implement an American Depository Receipt (ADR) program on a U.S. stock exchange.
“We welcome our new investors and are gratified they share our vision for Mazor’s future success in the robotics market”
Under the structure of the transaction, the aggregate investment amount will be up to $15 million invested in two tranches of $7.5 million each and divided among a group of institutional and accredited investors in varying percentages. The investment group is led by Oracle Investment Management, which was founded by Larry Feinberg.
Under the first tranche, Mazor will issue 7,053,529 ordinary shares at a per share price of ₪4.25, based on the U.S. Dollar/NIS rate of exchange of 3.997 as of August 8, 2012 for a total of $7.5 million. Closing of the investment remains subject to customary clos...
