Brief: Ability Inc says Line of Credit to be Repaid, Converted into Equity

Ability

28/12/2018 11:26

Dec 28 (Reuters) - Ability Inc  ABIL.TA :
    * AMOUNT UNDER LINE OF CREDIT, SECURED WITH HURGIN &
AUROVSKY
FUNDS, TO BE REPAID & CONVERTED INTO EQUITY
    * ABILITY’S LINE OF CREDIT TO BE REPAID AND CONVERTED INTO
EQUITY
    * OUTSTANDING LINE OF CREDIT WITH AN ISRAELI COMMERCIAL BANK
WILL
BE REPAID USING FUNDS TO BE TRANSFERRED TO COMPANY BY HURGIN,
AUROVSKY
    * WILL ISSUE TO HURGIN, AUROVSKY 452,852 ORDINARY SHARES IN
AGGREGATE AND WARRANTS TO PURCHASE 226,426 ORDINARY SHARES EACH
    * WARRANTS WILL BE IMMEDIATELY EXERCISABLE AT A PRICE OF
$3.25 PER
ORDINARY SHARE

Source text for Eikon:  ID:nGNX5V4hGt 
Further company coverage:  ABIL.TA 

 ((Reuters.Briefs@thomsonreuters.com;))