Which is about to merge the veteran cannabis company, Sheikh Sarid, today announced the outline of the rights issue it is executing just before the merger. The rights issue was intended to meet one of the preconditions for the merger, which has already been approved by the general meeting of the Company. Under the terms of the merger agreement, Beyond Time promised to have at least NIS 38.8 million in its coffers, part of which was already raised in a private placement whose terms have already been set and part of which will now be raised in the rights issue.The share price in the rights issue is significantly lower than its market price. The share price today is NIS 2.9, while in the rights issue each shareholder will be able to buy a share at a maximum price of NIS 0.44, as well as options in the money: NIS 1.34 and NIS 1.03. The company will raise NIS 27.4 million.
The company’s previous publication on the issue of the rights shows that the exercise price of the cheaper options reflects a company value of NIS 325 on a fully diluted basis, while the most expensive options – NIS 420 million before the money immediately after completion of the transaction. Given the exercise of all the options, the company will receive an additional NIS 92 million.In insurance for managers, travel abroad is even more significant, with assets abroad and in foreign currency standing at 31.7%, and NIS 109 billion in assets abroad and in foreign currency. In which the proportion of assets invested in assets abroad and in foreign currency actually leads the camp to 34.3%, meaning that more than three shekels of the insured holding a profit-sharing policy is connected to foreign or foreign currency. In actual Delta terms, more than 40% of the portfolio of profit-sharing policies is exposed abroad.