Sapiens retires $2.8 million in convertible debentures

By Susanna Moon

Chicago, June 12 - Sapiens International Corp. NV has redeemed $2.8 million or NIS 11,887,169 in convertible debentures issued to Israeli institutional investors, according to a press release.

The redemption of the convertible debentures follows the company's announcement of a $20 million private placement this week.

Investors bought the convertible debentures at a price of NIS 0.95 per NIS 1.00 unit.

Sapiens is a provider of software and technology services to the insurance industry based in Nes-Ziona, Israel.

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