By Sarah Lizee
Olympia, Wash., June 8 – Sapiens International Corp. completed the public offering of $60 million of additional nonconvertible series B debentures due Jan. 1, 2026 through Sapiens International Corp. NV, according to a 6-K filing with the Securities and Exchange Commission.
The add-on debentures will have the same terms and be part of the same series as the company’s already outstanding series B debentures.
The debentures will be listed on the Tel-Aviv Stock Exchange.
Both institutional and private investors participated in the offering, according to a press release.
Proceeds will be used to repay a short-term bank loan of $20 million, strengthen the balance sheet and liquidity, provide for additional working capital to support development needs, and enable the company to pursue additional M&A opportunities.
Sapiens is a Holon, Israel, software developer and supplier for the insurance industry.
| Issuer: | Sapiens International Corp. NV
|
| Issue: | Additional nonconvertible series B debentures
|
| Amount: | $60 million
|
| Maturity: | Jan. 1, 2026
|
| Coupon: | 3.37%
|
| Announcement date: | June 8
|
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