Israeli Biotech Firm Pluri Secures Multi-Million Dollar Investment Deal
Pluri has entered into a securities purchase agreement with a healthcare-focused institutional investor. Under the deal, the investor will acquire 2,228,940 ordinary shares at a price of $1.50 per share.
Pluri, a biotechnology company developing 3D cell expansion technology for large-scale production in therapy, longevity, regenerative aesthetics, agritech, and foodtech, announced on Friday that it has entered into a securities purchase agreement with a single institutional investor specializing in the healthcare sector.
Under the agreement, the investor will purchase 2,228,940 ordinary shares of Pluri, or equivalent securities, at a price of $1.50 per share as part of a registered direct offering. Gross proceeds are expected to total approximately $3.3 million, before deducting placement agent fees and other offering expenses.
Concurrently, Pluri will issue and sell to the investor, via a private placement, unregistered warrants to purchase up to 2,228,940 additional ordinary shares. These warrants carry an exercise price of $1.65 per share, become exercisable six months after issuance, and expire five and a half years from the date of issuance.
The offering is expected to close on or about August 28, 2026, subject to customary closing conditions. The company intends to use the net proceeds for working capital and general corporate purposes. American financial firm Alliance Global Partners is serving as the exclusive placement agent.
The shares are offered pursuant to a shelf registration statement on Form S-3, which was declared effective by the U.S. Securities and Exchange Commission (SEC) on September 21, 2023. The warrants are being issued in a concurrent private placement under an exemption from registration under U.S. securities laws.
