Report of Foreign Issuer (6-k)
February 27 2018 - 4:22PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the Month of February 2018
Commission File Number 333-206989
Ability Inc.
(Translation of registrant’s name
into English)
Yad Harutzim 14
Tel Aviv 6770007, Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant
files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form
40-F ☐
Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
ABILITY INC.
On February 21, 2018, Anatoly Hurgin, the
Chief Executive Officer, director and controlling shareholder of Ability Inc. (the “Company”), and Alexander Aurovsky,
the Company’s Chief Technology Officer, director and controlling shareholder of the Company (collectively, the “Controlling
Shareholders”) executed an Irrevocable Undertaking (the “Undertaking’) for the benefit of the Company. According
to the Undertaking, the Controlling Shareholders agreed to make available to the Company from, March 1, 2018, a $3 million line of
credit or loan. in favor of the Company’s subsidiary, Ability Computer & Software Industries Ltd.
The Undertaking provides that the term
of the line of credit or loan is to be for a period of no less than six months. The line of credit or loan will not bear any interest
and the Controlling Shareholders may not demand repayment, reduce or otherwise impair the line of credit or the loan.
The Undertaking further provides that at
the end of the term of the line of credit or loan, the board of directors will determine whether repayment of the line of credit
or loan will compromise the ability of the Company to meet its obligations during the twelve months following repayment. The Controlling
Shareholders undertake to renew the line of credit or extend the term of the loan on the same terms for an additional period of
no less than six months in accordance with a resolution of the board of directors with respect to the necessity of the support
of the Controlling Shareholders.
The foregoing description of the Undertaking
is not complete and is qualified in its entirety by reference to the full text of the Undertaking, a copy of which is filed herewith
as Exhibit 10.1 to this Report on Form 6-K and is incorporated by reference herein.
The following exhibit is attached:
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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ABILITY INC.
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By:
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/s/ Anatoly Hurgin
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Anatoly Hurgin
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Chief Executive Officer
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Date: February 27, 2018
2
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