Arieli Group has submitted a proposal to amass Spacecom (Area Communication) (TASE: SCC). Arieli Group, owned by Eric Bentov and Evan Renov, is providing to inject $18 million into Spacecom’s coffers in trade for 82% of the corporate’s shares, whereas the remaining stability of shares (18% can be allotted to bondholders). The corporate can also be providing full compensation of the remaining debt to all bond sequence holders (Collection 16, 17 and 18 in response to the par worth), and the problem of convertible bonds totaling $65 million, which represents 15% of the par worth of Collection 16 and 18 and 30% of Collection 18. In truth, Arieli is providing full compensation of three bond sequence for a par worth of $367.5 million, with most of it in money and the stability in convertible bonds.
Based on Arieli Group’s supply, the inherent upside is mirrored in the truth that it can allocate 18% of the corporate’s capital to the bondholders (pro-rata between the sequence), and in the truth that the convertible bond component grants possession of 30% of the absolutely diluted share capital (based mostly on a worth of $150 million, earlier than cash, in the course of the bond time period).
In contrast with different provides on the desk for Spacecom bondholders, Arieli Group’s says its supply maximizes worth for bondholders and successfully grants them over 100% of the par worth (the adjusted worth of the bond, together with curiosity as of June 30, 2025, excluding curiosity on arrears, based mostly on the US$/NIS trade price as of Could 8, 2025 and listed in response to the phrases of the bond sequence. With the lion’s share in money. The brand new convertible bonds that can be issued, if and when, can be for a interval of three years (in a single excellent cost) and can bear a hard and fast annual curiosity of seven% linked to the greenback, to be paid as soon as each six months.
Arieli Group’s acquisition supply for Spacecom is led by Arieli Group cofounder and managing director Eric Bentov, a serial entrepreneur within the US who has led investments in a number of expertise firms and innovation platforms. Bentov has a long time of expertise in founding expertise facilities, innovation facilities and educational expertise switch firms. Bentov is a member of the boards of administrators of Elron Ventures, RDC – the event arm of Rafael Superior Protection Methods and a few of the group’s portfolio firms.
Bentov mentioned, “We at Arieli consider in our talents to develop the corporate with a singular and modern technique and assume that it’s going to take the corporate to new heights and produce increased worth for bondholders. Our supply brings the best worth of all of the provides submitted to the bondholders, offering them with over 100% of the par worth.”
Arieli Group was based a decade in the past by Eric Bentov and Evan Renov on the idea of enterprise collaborations and former philanthropic exercise. Further companions within the group are Elron Ventures chairman Lisya Bahar-Manoah and Or Habib, chief of its innovation arm. The group’s funding portfolio is numerous and consists of cybersecurity, deep-tech, protection, vitality, fintech and healthcare firms, and consists of early-stage investments alongside growth-stage investments. Amongst its most notable investments, as talked about, is Israel’s oldest enterprise capital fund, Elron Ventures, which brings collectively 26 cybersecurity and medical system firms.
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Arieli Group leverages the prevailing sources at its disposal, optimizing current belongings, and has made two exits from Elron because the September 2024 acquisition: Elron’s shares in IronScales had been bought for $12.3 million, producing a 23-fold return on funding, and Sixgill was bought for $115 million.
Arieli Group has collected expertise in world markets, together with exercise on Wall Avenue, management of an funding financial institution with regulatory licenses in New York, fund-to-fund investments, and main monetary rounds. As well as, the group has strategic joint ventures with the Hebrew College of Jerusalem, Bar-Ilan College, Shaare Zedek Medical Heart, and different universities within the US.
Printed by Globes, Israel enterprise information – en.globes.co.il – on June 18, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
