This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

XTL Biopharmaceuticals Successfully Completes A Capital Raise In Israel Of Approximately $3.5 Million Led By Institutional Investors

Stocks in this article: XTL XTLB

HERZELIYA, Israel, March 19, 2012 /PRNewswire/ --

 $1.1 million was raised by way of exercise of tradable warrants at NIS 1.05 per share  ( $0.56   per ADR).

$2.4 million was raised in a lock-up private placement at a share price of NIS 0.79 per share  ( $0.42   per ADR).

The raise will enable acceleration of the clinical development programs of the Company.

XTL Biopharmaceuticals (TASE: XTL, OTC: XTLBY) announced yesterday, March 18, 2012, it successfully completed a private placement of securities with foreign as well as Israeli institutional and private investors for a total of $2.4 million ( NIS 9.1 million). The placement will have a 6-month lock-up period. Furthermore, the Company raised an additional approximate $1.1 million ( NIS 4.2 million) by way of exercise of tradable warrants (series 2) at NIS 1.05 per share ( $0.56 per ADR).

The private placement together with the warrants' exercise totalled to approximately $3.5 million (approximately NIS 13.3 million). Menora Mivtahim Underwriting and Management Ltd. acted as an advisor for the private placement.

 "We are happy to announce the completion of the raising, led by key institutional investors" mentioned Ronen Twito, XTL's Chief Financial Officer, and added "the completion of the raising and its character demonstrate the investors' belief in the Company, and will enable the Company to mark the US capital markets as a target in the near future."

David Grossman, XTL's Chief Executive Officer said "We would like to thank the investors and our shareholders for their investment and support in the Company. The raising will enable us to accelerate our development programs and expand our drug development pipeline."

About XTL Biopharmaceuticals, Ltd.

XTL Biopharmaceuticals, Ltd., a biopharmaceutical company, focuses on the acquisition, development, and commercialization of pharmaceutical products for the treatment of clinical unmet needs. The Company is focused on late stage clinical development of drugs for the treatment of multiple myeloma, schizophrenia, and hepatitis C.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs