BVR Systems raises $3.6m
A group led by investor Nir Dor purchased 17% of shares.
Globes correspondent 21 Mar 06 12:35
Military training and simulation systems developer BVR Systems (1998) Ltd. (OTCBB: BVRSF.OB), today announced the investment of $3.6 million in a private placement to an Israeli partnership led by Nir Dor.
In return for the investment, BVR will issue 20,000,000 ordinary shares with nominal value of NIS 1.00 per share, representing approximately 17% of the issued share capital of the company, at a price per share of $0.18.
In addition, the company has issued to the purchaser three warrants each for the purchase of 6,000,000 ordinary shares with a nominal value of NIS 1.00 each, with exercise prices of $0.36, $0.54 and $1.00, exercisable for a period of three years.
Published by Globes [online], Israel business news - www.globes.co.il - on March 21, 2006
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