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Evogene Announces $10 Million Equity Led Investment by ARK Investment Management, LLC
REHOVOT, Israel, Sept. 1, 2020 /PRNewswire/ -- Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN.TA), a leading computational biology company focused on revolutionizing
About this update from Evogene Ltd.
[{"type":"text","content":"REHOVOT, Israel, Sept. 1, 2020 /PRNewswire/ -- Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN.TA), a leading computational biology company focused on revolutionizing product discovery and development in multiple life-science based industries, including human health and agriculture, today announced that it has entered into a definitive agreement with ARK Investment Management, LLC (ARK Invest) and Alpha Capital Anstalt in connection with a registered direct offering of ordinary shares at a price per share of $1.70, for an aggregate cash consideration of $10 million. Of the aggregate investment amount, ARK Invest, a leading technology investment firm, specializing in thematic investing in disruptive innovation, will invest $7 million and Alpha Capital Anstalt will invest $3 million. \n \n \nEvogene intends to use the net proceeds from the offering to further develop its and its subsidiaries' product pipelines, to further enhance and expand its computational predictive biology platform, and for working capital and general corporate purposes.\nThe offering is expected to close on or before September 3, 2020, subject to customary closing conditions.\nThe shares of common stock offered in the registered direct offering described above are being offered by Evogene pursuant to its shelf registration statement on Form F-3 (File No.333-240249) previously filed and declared effective by the Securities and Exchange Commission (the \"SEC\") on August 10, 2020. The offering may be made only by means of a prospectus supplement and accompanying prospectus. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website. \nThis press release is for informational purposes only and should not be construed as investment advice and does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout Evogene Ltd.:\nEvogene (NASDAQ: EVGN, TASE: EVGN.TA) is a leading computational biology company focused on revolutionizing product discovery and development in multiple life-science based industries, incl...