By Sheri Kasprzak
Atlanta, Dec. 29 - Formula Systems Ltd. said it will raise $36 million in a private placement.
The company plans to sell 2.4 million shares at $15 each.
The offering will be purchased by FIMI Opportunity Fund, and the proceeds from the private placement will be issued to a new entity established by Formula's chief executive officer and chairman, Dan Goldstein, and FIMI.
Based in Herzliya, Israel, Formula Systems is an information technology company.
| Issuer: | Formula Systems Ltd.
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| Issue: | Stock
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| Amount: | $36 million
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| Shares: | 2.4 million
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| Price: | $15.00
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| Warrants: | No
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| Investor: | FIMI Opportunity Fund
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| Pricing date: | Dec. 28
|
| Stock price: | $15.31 at close Dec. 28
|
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