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Sigma Wave bids for Alvarion as going concern
Sigma Wave proposes injecting tens of millions of shekels into Alvarion, subject to it reaching a settlement with its creditors.
20 August 13 16:14, Ron Steinblatt
Last Thursday was the deadline for bids to acquire Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR). One of the bidders was Sigma Wave Ltd., a private company based in Caesarea and controlled by Arie Trabelsi. Sources inform ''Globes'' that Sigma Wave has submitted a new offer as part of Alvarion receiver Yoav Kfir's review of the offers.
Sigma Wave is offering to acquire Alvarion's activity for a capital injection of tens of millions of shekels, provided that the company is acquired as a going concern and that its employees are brought back to work immediately. If the offer is accepted, there will be a need for a creditors settlement, under which some creditors may have to write off some of Alvarion's debts to them, or to reschedule them over a longer period.
Kfir said in his preliminary report that Alvarion owed its creditors $24 million. This figure includes $3.3 million owed to Silicon Valley Bank, which initiated the receivership proceedings, $17.5 million owed to suppliers, $1.6 million owed to employees, and the rest owed to banks, municipalities, and the Office of the Chief Scientist.
Sigma Wave's offer includes awarding Alvarion shares to employees who stay at the company. Current shareholders will see their stakes sharply diluted.
Sigma Wave told "Globes" in response that it had submitted a bid to the receiver, but declined to confirm the details.
Last week, Alvarion's share price rose over 500%, on reports of offers to acquire the company.
Published by Globes [online], Israel business news - www.globes-online.com - on August 20, 2013
Should test support IMO needs a hefty pullback
Looking for a bounce off .86
All selling pre market and out of the open
Should test support today IMO
ALVR
Still looking to load .835-.875 range on a pullback
ALVR
ALVR up on the TASE today
Im not sure if the TASE follows the NASDAQ or vice Versa however
Lets hope pre-market treats us nicely.
wow. nice...no mention from anyone I know on IHUB...good secret..
did not get any
Already moving up in AH.. Gonna be really interesting to see how this story unfolds
Missed the dip it didn't come low enough
Still think it could test .80s today
Dump coming here yet?
Loading @ .85 Today
Be patient loading more as many top traders are here on the message board, ALVR is a monster!
If a buyout is finalized. Can someone educate me and tell me where this will go pps-wise? TIA.
No idea why ALVR hasn't been in the breakout boards while it's been performing like this???
I'm good to get out at 1.50 if we can get there which i believe it'll go higher but it's just for my piece of mind and I am satisfied with that gain.
I had one of those feelings this was going to pop back at .20 so I bought 6k worth then. Right now....I'm very happy!!Go ALVR!!! Hahaaaaa
Sellers better wise up were going much higher here!
Howly COW!! damn u guys should not have sold
Blindly jumped in this for a tiny position on last weeks surge in volume... Follow the money!
Yes this will hit #1 today
An automatic GOOG translation from Hebrew:
{not a very good one, but one gets the drift!)
Stock Picks: Complementary leap of 270% in 4 trading days
The last day for submission of bids for the purchase Alvarion there a week ago and receiver has received several offers to buy the whole company or parts of 19.08.2013, 10:30
Alvarion
(0.8089 +58.61%)
Continues even today to leap and coordinator turnover cities. Alvarion completes a flight of about 270% in 4 days of trading due to recent news regarding proposed acquisition appointed receiver streaming company.
Globes "has learned that one of the groups submitted an offer to purchase Alvarion is the Telecom Valley. This is the group that includes businessman Hani al-Alami east Jerusalem, the one high - tech Jorge Finiavsky and Citrus Creek businessman. The Group is interested in acquiring the Alvarion to continue and run the company, employ the employees and pay existing debts including the Chief Scientist.
Alami is a veteran in the communications field. Is the owner of Nat Cole, began to deploy fiber optic power lines in Ramallah and the environment. Alami is competing telecommunications operator in the PA Platel.
Alvarion, a provider of telecommunications equipment, encountered severe liquidity problems that led to the end that she could not serve its debts and was put into receivership. Yoav Kfir CPA was appointed as receiver to the Company, and a District Court judge in Tel Aviv, Eitan Orenstein, confirmed late July the operating plan submitted by the Receiver, the company that currently employs 55 people.
The last day for submission of bids for the purchase Alvarion there a week ago and receiver has received several offers to buy the whole company or parts of it. Apparently, the more interested they are private company Alvarion Sigma Wave, and a group RADWIN Zisappel.
Introducing Globes month - all stories, articles and columns in your view every night >>
thank you safe travels...
good luck to you and evreyone else
EC
smart man but i will hang on a little longer
not sure but they are still in operation and serving clients so they most be making some money. Also could be they may have a buyer? Wonder if they get bought out if this thing can hit $2?
Any reason for the raise
ALVR record volume, bottomed chart, recent news... Looks better closing close at high of day !
ALVR up 59.46% on the TASE today. $$$Monday http://www.tase.co.il/Eng/General/Company/Pages/companyMainData.aspx?subDataType=0&companyID=002173&shareID=01084458
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Alvarion Ltd. provides optimized wireless broadband solutions addressing the connectivity, coverage and capacity challenges of telecom operators, smart cities, security, and enterprise customers. Our innovative solutions are based on multiple technologies across licensed and unlicensed spectrums.
Multi-dimensional Portfolio
Multiple frequencies, networks, applications, topologies, and environments
Unparalleled Experience
RAN expertise from standards development to specialized applications and years of field experience in relevant technologies including Wi-Fi and 4G
Extensive Deployments
Over three million wireless broadband links deployed worldwide
Reliable Partnerships
Sharing best practices, business tools, and global experience
Alvarion is in a key position to enable our customers to meet growth opportunities in the marketplace with an offering that will address the increasingly complex requirements of wireless broadband networks for years to come.
Broadband Wireless Access Solutions
For Broadband Operators and Providers using 4G RAN in Licensed & Unlicensed frequencies
Private Network Solutions
For Enterprises, Businesses and Verticals using unlicensed Wi-Fi and WiMAX frequencies
Carrier-grade Wi-Fi Solutions
For Mobile Carriers and Enterprises using unlicensed frequencies
Alvarion is at the forefront of technology innovations with over 15 years of OFDM and IP innovation. Alvarion has a track record of repeated innovations:
IP Wireless Broadband
Alvarion introduces true IP wireless broadband in the first BreezMAX product
Commercial WiMAX
Alvarion becomes one of the first vendors to produce a commercial WiMAX solution
Mobile 802.16e
Products Alvarion is an influential contributor to the standard and develops its own line of 802.16e Mobile WiMAX products
ASIC with Wi-Fi Beamforming
The industry’s first ASIC with Wi-Fi Beamforming and SDMA technology 802.11g is introduced by Alvarion
4G TDD OFDM
Alvarion develops 4G TDD OFDM solutions for the marketplace
CATV DAS Overlay
Alvarion develops patented CATV DAS overlay to reduce installation complexity and costs
Interference Immunity Catering to market needs, Alvarion develops a unique interference immunity
suite to reduce noisy environments in unlicensed spectrum
Beamforming 802.11n 3x3:3
Alvarion launches the industry’s first two-way Beamforming 802.11n 3x3:3 base station
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