InterCure Secures NIS 22M Private Placement, Warrants at 53% Premium
INCR•InterCure raised NIS 22 million from CEO Alexander Rabinovich and pharma hedge funds by issuing 7.9 million shares at NIS 2.75 and warrants at NIS 4.125, a 53% premium. Proceeds may reach NIS 54 million if warrants fully exercise, funding German and US cannabis expansion and Nir Oz facility recovery.
1. Private Placement Details
InterCure has entered into a binding term sheet for a NIS 22 million private placement led by CEO Alexander Rabinovich and pharma-focused hedge funds. The company will issue 7,895,143 ordinary shares at NIS 2.75 and warrants for an additional 7,895,143 shares at NIS 4.125, representing a 53% premium over the June 17 closing price.
2. Growth Financing and Expansion Plans
If all warrants are exercised, InterCure’s proceeds could increase to NIS 54 million, bolstering its balance sheet for global expansion. The company plans to deploy funds to accelerate growth in Germany and regulated U.S. medical cannabis markets and to support recovery and expansion of its Nir Oz production facility.
3. Closing Conditions and Shareholder Approval
The private placement is subject to definitive documentation and customary closing conditions, including shareholder approval for the CEO’s investment. Issued securities will carry transfer restrictions and warrants will be exercisable for five years from issuance.
