Ability Inc : Sinks on direct offering of shares

Ability

14/08/2018 16:06

** Shares of Israel-based interception and cyber security
tools provider  ABIL.O  slumps as much as 23 pct at $4.63 
    ** Co agrees to sell 728,262 of co's ordinary shares to
institutional investors at $4.60/share; to raise about $3.35 mln
    ** H.C. Wainwright & Co. acting as offering's placement
agent 
    ** Offering size represents is about ~25.8 pct of co's
outstanding of 2.58 mln shares as on Aug 13
    ** Ability Inc's current trading volume nearly equal to its
25-DMA
    **  ABIL.O 's decline of 20.3 pct set to erase some of YTD
gain of 8.41 pct 

 (Reporting by Divya R in Bengaluru)
 ((divya.renganthan@thomsonreuters.com))