Benzinga | Sep 1, 2020 06:27AM EDT

G. Willi-Food International Announces Proposed Private Placement To Israeli Institutional And Accredited Investors

YAVNE, Israel, Sept. 1, 2020 /PRNewswire/ -- G. Willi-Food International Ltd. (NASDAQ:WILC) (TASE: WILF) (the "Company" or "Willi-Food"), a global company that specializes in the

YAVNE, Israel, Sept. 1, 2020 /PRNewswire/ -- G. Willi-Food International Ltd. (NASDAQ:WILC) (TASE: WILF) (the "Company" or "Willi-Food"), a global company that specializes in the development, marketing and international distribution of kosher foods, announced today that, following tPhoto - https://mma.prnewswire.com/media/959267/G_Willi_Food_International_Logo.jpghe approval of its Board of Directors, it has received and accepted commitments from Israeli institutional and accredited investors as defined under Israel law (the "Investors") to participate in a private placement (the "Private Placement") of ordinary shares of the Company (the "Shares") and warrants to purchase ordinary shares of the Company.



The Company is expected to issue the Investors an aggregate of 650,000 Shares and warrants to purchase up to 650,000 ordinary shares of the Company (the "Warrants"). The price to receive each Share and Warrant in the Private Placement was set at NIS 66 (approximately $19.67). The Warrants are exercisable for a period of one (1) year from the date of the Private Placement, with an exercise price of NIS 73 per share (approximately $21.76). The gross proceeds to the Company in connection with the Private Placement are expected to be NIS 42.9 million (approximately $12.79 million), excluding the proceeds from exercise of the Warrants, if exercised.

The closing of the Private Placement is subject to receipt of certain regulatory approvals, which are expected to be obtained during September 2020.

The Private Placement described in this report, if completed, will be made in Israel only and not to U.S. persons, as defined in Rule 902 of the U.S. Securities Act of 1933, as amended (the "Securities Act"). The ordinary shares, if sold, will not be registered under the Securities Act and will not be offered or sold in the United States without registration or applicable exemption from the registration requirements according to the Securities Act. Nothing in this press release constitutes a public offering or an invitation to purchase Company securities.