Av-Gad Holdings Ltd. signed a purchase agreement for private placement of 150,000 common shares at an issue price of ILS 13 per share for gross proceeds of ILS 1,950,000 along with 125,000 series A warrants on January 20, 2023. Each warrant is exercisable for one ordinary share of the company against a cash payment of an exercise price in the amount of ILS 15 per option until February 1, 2024. The shares issued are subject to a lock-up period.

The transaction has been approved by board of directors of the company.