Shefa Yamim Ltd. (TASE:SEFA) announced a private placement of £10 million in a round of funding on May 4, 2016. The company has signed term sheets with international investors for convertible loans of £3 million. The convertible loans will bear a coupon of up to 5% per annum. The company will convert loans into its ordinary shares for a total of £3 million. The convertible loans will be converted into ordinary shares of the company upon the issuance, at a discounted price of 15% from the Initial Public Offer share price.