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Article: BVR Technologies Ltd (Nasdaq: BVRTF) Announced Today That It Is Raising Funds Through Private Placements.
- Article from:
- PR Newswire
- Article date:
- June 22, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GIVATAYIM, Israel, June 22 /PRNewswire/ -- BVR Technologies Ltd. (Nasdaq: BVRTF) (BVR), announced today that Clal Industries and Investments Ltd. (Clal) and Hapoalim Electronic Communication Ltd. (a wholly owned subsidiary of Poalim Investments Ltd.), both existing shareholders of BVR, invested $1,500,000 each, in an aggregate amount of $3,000,000 in BVR by way of convertible debentures, due June 15, 2003, bearing interest of 7% per annum to be paid semi-annually. The convertible debentures shall be converted at a conversion price of the lesser of (i) $6.5 per share; or (ii) the average closing price of the Ordinary Shares of BVR of all trading days in June 1999. The ...