Ability Inc: Surges as founders repay loan in exchange for equity

Ability

28/12/2018 12:15

** Ability Inc's U.S.-listed shares  ABIL.O  jump 33.3 pct
to $2.36 premarket
    ** The Israel-based interception and cyber security tools
provider  ABIL.TA  said a $1.5 mln line of credit will be repaid
and converted into equity  urn:newsml:reuters.com:*:nL8N1YX1KD
    ** Ability founders agree to repay the loan in exchange for
additional shares and warrants
    ** Conversion price of $3.25 same as recently closed public
offering  urn:newsml:reuters.com:*:nL4N1XY3W5
    ** Offering came a few days after Ability stock value nearly
doubled on a deal to buy a supplier  urn:newsml:reuters.com:*:nL4N1XW4F8
    ** Still ABIL is down ~60 pct this year through Thursday;
stock has fallen over 50 pct in each of prior three years

 (Reporting by Savio D'Souza)
 ((RM:savio.dsouza.thomsonreuters.com@reuters.net))