By Sheri Kasprzak
New York, Aug. 6 - Metalink Ltd. is gearing up to complete a $19.2 million private placement.
A group of institutional investors agreed to buy 3.2 million shares at $6.00 each.
The investors also received warrants for 800,000 shares, exercisable at $8.00 each for five years.
Metalink may force the exercise of the warrants if its stock price exceeds $12.00 for 20 of 30 consecutive trading days.
The offering is set to close in three business days.
Located in Yakum, Israel, Metalink provides and develops wireless and wireline broadband communication silicon technologies.
Issuer: | Metalink Ltd.
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Issue: | Stock
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Amount: | $19.2 million
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Shares: | 3.2 million
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Price: | $6.00
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Warrants: | For 800,000 shares
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Warrant expiration: | Five years
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Warrant strike price: | $8.00
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Announcement date: | Aug. 6
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Stock symbol: | Nasdaq: MTLK
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Stock price: | $6.51 at close Aug. 6
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