Optibase to price $5 million private placements of shares

By Devika Patel

Knoxville, Tenn., May 13 - Optibase Ltd. arranged a $5 million private placement of stock, according to a 6-K filed Tuesday with the Securities and Exchange Commission.

The company will sell ordinary shares to Shlomo Wyler, the company's chief executive officer and executive chairman of the board of directors. The purchase price per share will be determined.

Herzliya, Israel-based Optibase is a provider of high quality equipment for a range of professional video applications in the broadband internet protocol television, broadcast, government, enterprise and post-production markets.

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