Ability Inc. Announces Closing of Registered Direct Offering
August 16 2018 - 4:15PM
Ability Inc. (Nasdaq:ABIL), which provides advanced interception,
geolocation and cyber intelligence products and solutions to
intelligence agencies, military forces, law enforcement agencies
and homeland security agencies worldwide, today announced the
closing of its previously announced registered direct offering of
728,262 ordinary shares, at a purchase price per share of $4.60,
for gross proceeds of approximately $3.35 million.
H.C. Wainwright & Co. acted as the exclusive
placement agent for the offering.
Ability Inc. intends to use the net proceeds
from this offering for working capital and general corporate
purposes.
The ordinary shares were offered by Ability Inc.
pursuant to a “shelf” registration statement on Form F-3 that was
filed on July 23, 2018 and declared effective by the Securities and
Exchange Commission (“SEC”) on August 8, 2018 and the base
prospectus contained therein (File No. 333-226288).
Copies of the final prospectus supplement and
accompanying base prospectus relating to the offering may be
obtained on the SEC’s website at http://www.sec.gov or by
contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd
Floor, New York, NY 10022, by phone at 646-975-6996 or e-mail at
placements@hcwco.com.
This press release shall not constitute an offer
to sell, or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Ability Inc.
Ability Inc. is a holding company operating
through its subsidiaries Ability Computer & Software Industries
Ltd. (“Ability”) and Ability Security Systems Ltd.
Headquartered in Tel Aviv, Israel, Ability
was founded in 1994. Ability provides advanced interception,
geolocation and cyber intelligence tools used by security and
intelligence agencies, military forces, law enforcement and
homeland security agencies worldwide. Ability has sold to
governments and government agencies in over 50 countries. Ability
offers a broad range of lawful interception, decryption, cyber and
geolocation solutions for cellular and satellite communication,
including ULIN, or Ultimate Interceptor, a SaaS strategic
interception system with voice and geolocation capabilities without
geographic limitation. State-of-the-art technology underpins
Ability’s scalable offerings, which can be tactical-and-portable,
or strategic-and-fixed, depending on its customers’ needs.
Additional information regarding Ability may be found
at http://www.interceptors.com.
Safe Harbor Statement
Any statements contained in this press release
that do not describe historical facts may constitute
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements include, among other thing, statements regarding the
intended use of proceeds. Forward-looking statements should not be
read as a guarantee of future performance or results and may not be
accurate indications of when such performance or results will be
achieved. Forward-looking statements are based on information that
the Company has when those statements are made or management’s good
faith belief as of that time with respect to future events, and are
subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward-looking statements. The Company assumes
no obligation to publicly update or revise its forward-looking
statements as a result of new information, future events or
otherwise.
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