Ability Announces Pricing of $10 Million Offering
November 23 2018 - 7:00AM
Ability Inc. (Nasdaq: ABIL) (TASE: ABIL) (“Ability” or the
“Company”), which provides innovative tactical communications
intelligence solutions, today announced the pricing of a registered
offering of 3,076,923 units, at a price of $3.25 per unit, to a
single institutional purchaser. Each unit consists of (i) one
ordinary share (or ordinary share equivalent), and (ii) a warrant
to purchase one ordinary share. Ability expects to receive
aggregate gross proceeds of approximately $10 million from the
offering. The ordinary shares (or the ordinary share equivalents)
and the accompanying warrants included in the units can only be
purchased together in this offering, but will be issued separately
and will be immediately separable upon issuance.
The warrants will have a term of five years, be
exercisable immediately and have an exercise price of $3.25 per
ordinary share.
H.C. Wainwright & Co. is acting as the
exclusive placement agent for the offering.
The offering is expected to close on or about
November 27, 2018, subject to customary closing conditions.
Ability intends to use the net proceeds from the
offering for general corporate purposes and working capital.
A registration statement on Form F-1 relating to
the public offering of the securities described above was filed
with the Securities and Exchange Commission (“SEC”) and was
declared effective on November 21, 2018. The offering is being made
only by means of a prospectus forming part of the effective
registration statement. A preliminary prospectus relating to and
describing the terms of the offering has been filed with the SEC,
and a final prospectus relating to the offering will be filed with
the SEC. Copies of the preliminary prospectus and, when available,
copies of the final prospectus may be obtained for free by visiting
the SEC's website at www.sec.gov or by contacting H.C.
Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY
10022, by calling (646) 975-6996 or by
emailing placements@hcwco.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Ability
Ability Inc. is the sole owner of Ability
Computer & Software Industries Ltd. (“ACSI”) and Ability
Security Systems Ltd. Headquartered in Tel Aviv, Israel, ACSI was
founded in 1994. ACSI provides advanced interception, geolocation
and cyber intelligence tools used by security and intelligence
agencies, military forces, law enforcement and homeland security
agencies worldwide. ACSI has sold to governments and government
agencies in over 50 countries. ACSI offers a broad range of lawful
interception, decryption, cyber and geolocation solutions for
cellular and satellite communication, including ULIN, or Ultimate
Interceptor, which to our knowledge, is the first-to-market SaaS
strategic interception system with voice and geolocation
capabilities without geographic limitation. State-of-the-art
technology underpins ACSI’s scalable offerings, which can be
tactical-and-portable, or strategic-and-fixed, depending on its
customers’ needs. Additional information regarding ACSI may be
found at http://www.interceptors.com.
Forward Looking
Statements
Any statements contained in this press release
that do not describe historical facts may constitute
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. For example,
forward-looking statements include statements regarding the
offering, the successful closing of the offering and planned use of
the net proceeds from the offering. Forward-looking statements
should not be read as a guarantee of future performance or results
and may not be accurate indications of when such performance or
results will be achieved. Forward-looking statements are based on
information that the Company has when those statements are made or
management’s good faith belief as of that time with respect to
future events, and are subject to risks and uncertainties that
could cause actual performance or results to differ materially from
those expressed in or suggested by the forward-looking statements.
Factors that may cause such a difference include, without
limitation, risks and uncertainties related to whether or not the
closing conditions related to offering will be satisfied as well as
other risk factors detailed in the Company’s filings with the SEC.
The Company assumes no obligation to publicly update or revise its
forward-looking statements as a result of new information, future
events or otherwise.
Contact at Ability:
Avi LevinCFO+972-3-6879777avi@ability.co.il
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