BOS Announces Private Placement for approximately $560,000 from several Investors, including Management
RISHON LEZION, Israel, June 11, 2015 (BUSINESSWIRE) B.O.S. Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ:BOSC), a leading Israeli provider of RFID and Mobile solutions and global provider of supply chain solutions to enterprises, announced today that it entered into definitive private placement agreements for a total amount of approximately $560,000. The investors in the private placement include BOS' CEO, President and CFO, YA Global Master SPV Ltd., certain BOS business partners and BOS employees. The agreements are for the issuance of an aggregate of 232,138 Ordinary Shares (equal to 11.23% of the outstanding shares of the Company following the investment) at a price per share of $2.406. When issued, the Ordinary Shares will not be registered under the Securities Act of 1933 and may not be subsequently offered or sold by the investor without registration or an applicable exemption from the registration requirements of such Act.
Yosi Lahad, Chairman of the Board, stated: "We are very pleased with this new investment which supports our plan to continue to reduce our debt and generate growth, possibly throughout acquisitions. We view the participation by management members, employees and business partners in the investment as a vote of confidence in the Company and its future".
B.O.S. Better Online Solutions Ltd. (BOSC) is a leading Israeli provider of RFID and Mobile solutions and global provider of Supply Chain solutions to enterprises. BOS' RFID and mobile division offers both turnkey integration services as well as stand-alone products, including best-of-breed RFID and AIDC hardware and communications equipment, BOS middleware and industry-specific software applications. The Company's supply chain division provides electronic components consolidation services to the aerospace, defense, medical and telecommunications industries as well as to enterprise customers worldwide. For more information, please visit: www.boscorporate.com.