October 30, 2017 1:55pm
NASDAQ shares drop -$0.31 or -15.98% to $1.66
PSTI proposed public offering of its shares of Common Stock on the Tel Aviv Stock Exchange (TASE) it has concluded an Israeli institutional investor tender.
In the tender PSTI has received overall commitments from Israeli institutional investors and accredited investors for the purchase of 8,873,700 shares in different prices for a total amount of approximately $15 million and chose to accept commitments of 7,123,700 shares at a purchase price of $1.61 (or NIS 5.70 per share) for a total amount of approximately $11.5 million.
Upon the approval of the TASE, PSTI intends to conduct a public offering of its shares on the TASE on Monday, October 30, 2017 at a minimum purchase price of $1.61, for up to 9,000,000 shares in the aggregate.