News

| Capital Markets & Securities
December 21st, 2017

Gornitzky represents GEOC, a Chinese investment fund, in a USD 5 million venture financing round.

Gornitzky represented Shanghai GEOC Hengtong Investment Limited Partnership, a Chinese investment fund, and its affiliates in a USD 5 million Series B investment round in Vectorious Medical Technologies Ltd. in which they were the lead investors together with Broadview Ventures.

Vectorious Medical Technologies Ltd. is developing a minimally-invasive heart implant, which, together with a user-friendly external home-unit, provides easy-to-access daily medical data. The VectoriousTM system increases CHF patient quality of life by providing early, accurate physiological indication of cardiac decompensation. Patients enjoy ongoing, personalized care, physicians save lives and cut healthcare costs.

Shanghai GEOC Hengtong Investment Limited Partnership and its affiliates were represented by Timor Belan (Partner), Avi Meer, Ori Sheinkman (Labor), Oleg Omeli and Sharon Reingwirtz

November 21st, 2017

Gornitzky represents Piper Jaffray in VBL Therapeutics’ USD 18.75 million follow-on offering on NASDAQ.

Gornitzky represented Piper Jaffray in Vascular Biogenics Ltd.’s (operating as VBL Therapeutics) USD 18.75 million follow-on offering on the NASDAQ Global Market. VBL Therapeutics is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class treatments for cancer.

Piper Jaffray & Co. acted as the sole manager for the offering.

The underwriters were represented by Chaim Friedland (Partner) and Ari Fried (Partner).

October 25th, 2017

Gornitzky represents companies controlled by Benny Peretz and Eyal Golan in a motion to grant a preliminary injunction.  

Gornitzky represented Liam Shay Real Estate Ltd. and Liam Tohar Investments (companies controlled by Benny Peretz and Eyal Golan) in a motion to grant a preliminary injunction and a petition for trustee instructions, filed before the District Court against the real estate group Avisror. The Court granted the preliminary injunction, and accordingly issued a judicial decree in which it orders Avisror Group to refrain from any disposition whatsoever with regard to Liam Shay and Liam Tohar's shares held by the group in escrow.

 

Liam Shay and Liam Tohar were represented by Partner Michael Ayalon and Associate Alex Feldsher.

October 1st, 2017

Gornitzky represents the underwriters, led by Cowen and Company and Wells Fargo, in MediWound’s follow-on offering on NASDAQ.

Gornitzky represented the underwriters, led by Cowen and Company and Wells Fargo Securities, in the USD 25 million follow-on offering of MediWound Ltd. on the NASDAQ Global Market. MediWound is a fully-integrated biopharmaceutical company focused on developing, manufacturing and commercializing novel therapeutics based on its patented proteolytic enzyme technology to address unmet needs in the fields of severe burns, chronic and other hard-to-heal wounds, connective tissue disorders and other indications.

 

Cowen and Company, LLC and Wells Fargo Securities, LLC acted as joint book-running managers for the offering. Oppenheimer & Co. Inc. and SunTrust Robinson Humphrey, Inc. acted as co-lead managers for the offering. Aegis Capital Corp. acted as a co-manager for the offering.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner), Sagit Amit Evan (Senior Associate), together with Associates Danielle Skald and Daniella Segal.

August 28th, 2017

Gornitzky represents the underwriters, led by Oppenheimer & Co., in Intec Pharma’s offering.

Gornitzky represented the underwriters, led by Oppenheimer & Co., in the USD 57.5 million follow-on offering of Intec Pharma Ltd. on the NASDAQ Capital Market. Intec Pharma is a clinical-stage biopharmaceutical company focused on developing drugs based on its proprietary Accordion Pill platform technology.

 

Oppenheimer & Co. Inc. acted as sole book-running manager for the offering. Roth Capital Partners acted as lead manager, and Maxim Group LLC acted as co-manager for the offering.

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner), Danielle Skald (Associate) and Nir Knoll (Associate).

August 3rd, 2017

Gornitzky represents the underwriters, led by Cantor Fitzgerald, in Kamada's follow-on offering. 

Gornitzky represented the underwriters, led by Cantor Fitzgerald, in the USD 15 million follow-on offering of Kamada Ltd. on the NASDAQ Global Select Market. Kamada is a plasma-derived protein therapeutics company focused on orphan indications, and its shares are dually traded on the NASDAQ and the Tel Aviv Stock Exchange.

Cantor Fitzgerald acted as sole book-running manager for the offering. Raymond James, Oppenheimer & Co., Ladenburg Thalmann and Chardan acted as co-managers for the offering.

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner), Yoav Meer (Associate), Danielle Skald (Associate) and Sharon Strauss (Associate).

July 11th, 2017

Gornitzky represents Strauss Group in a large-scale issuance of a new public bonds series.

Strauss Group Ltd., the largest food and beverage company in Israel, issues a new public bond series in an aggregate amount of NIS 470 million.


Strauss Group Ltd. was represented by Sharon Werker Sagy (Partner) and Shai Chen (Associate).

July 3rd, 2017

Gornitzky represents Strauss Group in a private placing for institutional bodies.

Strauss Group, the largest food and beverage company in Israel, issues approximately 2.7 million shares in a private placing for institutional bodies, for an aggregate sum of NIS 180 million.

 

Strauss Group Ltd. was represented by Sharon Werker Sagy (Partner) and Shai Chen (Associate).

June 11th, 2017

Gornitzky represents Melisron Ltd. in a NIS 900 million public offering.

Gornitzky represented Melisron Ltd. in a NIS 900 million public offering, by expanding two existing series, traded on TASE, through a shelf prospectus.

Melisron was represented by Sharon Werker-Sagy (Partner), Inbal Zackai-Horev (Senior Associate) and Shai Chen (Associate).

June 6th, 2017

Gornitzky represents Halman-Aldubi Investment House in a merger transaction.

Gornitzky represented Halman-Aldubi Investment House in a merger transaction with a publicly traded company, in which Halman-Aldubi's entire investment activity turned into the public company. Currently, Halman-Aldubi has approximately NIS 14 billion worth of assets under its management.

 

Halman-Aldubi was represented by Timor Belan (Partner), Yair Shiloni (Partner) and Itamar Ben-Yehuda (Associate).

May 11th, 2017

Gornitzky represented the underwriters, led by Jefferies and Cowen & Company, in the USD 67 million IPO of UroGen Pharma Ltd. on the NASDAQ Global Market.

Gornitzky represented the underwriters, led by Jefferies and Cowen & Company, in the USD 67 million IPO of UroGen Pharma Ltd. on the NASDAQ Global Market. UroGen Pharma is a clinical stage biopharmaceutical company developing advanced non-surgical treatments to address unmet needs in the field of urology, with a focus on uro-oncology.

 

The IPO was the first major underwritten IPO of an Israeli company in the United States since 2015.

 

Jefferies and Cowen & Company acted as joint book-running managers for the offering. Raymond James & Associates and Oppenheimer & Co. acted as co-managers for the offering.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Sagit Amit Evan (Associate).

 

March 7th, 2017

Gornitzky represented ADO Group LTD, from Shikun& Binui group in its issuance of new public bonds series that is supported by securities

Gornitzky represented ADO Group LTD, from Shikun& Binui group in its issuance of new public bonds series that is supported by securities. Within the framework of the issuance, ADO group raised NIS 390 million.

 

ADO Group was represented by Yair Shiloni (partner) and Itamar Ben Yehuda.

 

February 2nd, 2017

Gornitzky represented the lead investors, Y.T.Y. Lenny Investments Ltd. in a Series A venture capital investment round in Guardian Optical Technologies Ltd

Guardian Optical Technologies is an innovative Israeli startup developing an advanced 3D sensor. Guardian's sensor makes cars safer and enables them to distinguish between still objects and human beings thanks to the presence of a beating heart. This sensor will prevent drivers from forgetting infants in the car as well as serve as a sensor for seat belts, the airbag system, monitoring driving, movement recognition, driver recognition, black boxes and many other applications.

 

Y.T.Y. Lenny Investments Ltd. was represented by Timor Belan (Partner) and Avi Meer.

January 16th, 2017

Gornitzky represented Melisron Ltd., the leading real estate company in the field of shopping malls and commercial centers, in a NIS 940 million issuance of public bonds

Gornitzky represented Melisron Ltd., the leading real estate company in the field of shopping malls and commercial centers, in a NIS 940 million issuance of public bonds. Melisron issued one new series of bonds, which is secured by a real-estate asset, and two existing series was expanded.

 

Melisron Ltd was represented by Sharon Werker-Sagy (Partner), Itay Itzkovich (Partner) Uri Heller, Inbal Zackay-Horev, Shahar Oshri and Shai Chen.

 

December 27th, 2016

Gornitzky represents the underwriters, led by Roth Capital, in RedHill Biopharma’s USD 39 million public offering and concurrent registered direct offering of its ADSs and warrants

Gornitzky represented the underwriters, led by Roth Capital Partners, in RedHill Biopharma’s USD 39 million underwritten public offering of American Depositary Shares (ADSs) and warrants on the NASDAQ Capital Market and concurrent registered direct offering of its ADSs and warrants. RedHill Biopharma Ltd., a biopharmaceutical company primarily focused on drugs for inflammatory and gastrointestinal diseases and cancer, is dually traded on the NASDAQ and the Tel Aviv Stock Exchange (NASDAQ: RDHL, TASE: RDHL).

Roth Capital Partners acted as the sole book-running manager and Echelon Wealth Partners acted as Canadian manager for the underwritten public offering with respect to sales in Canada. Roth Capital Partners acted as placement agent in the registered direct offering.

 

See full story

The underwriters were represented by Chaim Friedland (Partner) and Ari Fried (Partner).

December 12th, 2016

Gornitzky represented the underwriters, led by Jefferies and Cowen and Company, in the USD 86 million follow-on offering of NeuroDerm Ltd. on the NASDAQ Global Market

Gornitzky represented the underwriters, led by Jefferies and Cowen and Company, in the USD 86 million follow-on offering of NeuroDerm Ltd. on the NASDAQ Global Market. NeuroDerm Ltd. is a clinical stage pharmaceutical company developing treatments for central nervous system (CNS) disorders.

Jefferies and Cowen and Company acted as joint book-running managers for the offering. Raymond James & Associates and Roth Capital Partners acted as co-managers for the offering.

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Nir Knoll.

October 5th, 2016

Gornitzky represented Menora Mivtachim Holdings Ltd., one of Israel's five largest insurance & finance groups, in its issuance of a new series of public bonds.

Gornitzky represented Menora Mivtachim Holdings Ltd., one of Israel's five largest insurance & finance groups, in its issuance of a new series of public bonds, in which Menora raised NIS 230 million.

Menora Mivtachim Holdings Ltd. was represented by Sharon Werker Sagy (Partner) and Uri Heller.

September 22nd, 2016

Gornitzky successfully represented Shikun & Binui Ltd. in an exchange tender offer swapping a short-term debt with a long-term debt totalling approximately NIS 880 million. 

Gornitzky successfully represented Shikun & Binui Ltd. in an exchange tender offer swapping short-term debt with a long-term debt totalling approximately NIS 880 million. The exchange offer involved replacing series of bonds traded at the stock exchange with another series of bonds traded at the Exchange as per the shelf prospectus report.

 

Shikun & Binui Ltd. was represented by Sharon Werker Sagy (Partner) and Shai Chen

July 20th, 2016

Yet another successful year and recognition of our outstanding abilities! This year, as in previous years, the esteemed ranking guide, Coface Bdi, top ranked our firm in 14 Tier 1 categories

Yet another successful year and recognition of our outstanding abilities! This year, as in previous years, the esteemed ranking guide, Coface Bdi, top ranked our firm in 14 Tier 1 categories. The leading rankings include Banking & Finance, Tax, Litigation & Dispute Resolution, Mergers & Acquisitions, Capital Markets & Securities, Infrastructure & Project Finance, Energy & Natural Resources, Corporate, Real Estate & Construction, Real Estate taxation, Class Actions & Derivative Suits, Telecoms & Media, Restructuring & Insolvency, Trusts, Estates & Wealth Management.

May 26th, 2016

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) - controlled by Shikun & Binui Group (TASE: SKBN), in the preparation and filing of a shelf prospectus. 

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) - controlled by Shikun & Binui Group (TASE: SKBN), in the preparation and filing of a shelf prospectus. Gornitzky advised and represented the company before the Securities Authority and the Tel Aviv Stock Exchange Ltd. in order to publish the prospectus.

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner) and Itamar Ben-Yehuda.

May 23rd, 2016

Gornitzky represented Strauss Group Ltd. in preparing a Shelf Prospectus

Gornitzky represented Strauss Group Ltd. in preparing a Shelf Prospectus and receiving approval of TASE for the registration of the Securities for trade on TASE.

Strauss Group Ltd. was represented by Sharon Werker-Sagy (partner) and Maya Dvir

April 16th, 2016

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) - controlled by Shikun & Binui Group (TASE: SKBN( in two tender offers for its shares, amounting to a total aggregate of NIS 350 million. 

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) - controlled by Shikun & Binui Group (TASE: SKBN( in two tender offers for its shares, amounting to a total aggregate of NIS 350 million.

 

Gornitzky represented and advised the company's management and Board of Directors in connection with the public offers, the consultation included advising on various aspects of corporate and securities law matters as well as tax matters.

 

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner), Itamar Ben-Yehuda. and Michal Karzbrun

February 4th, 2016

Gornitzky represented Osem Investments Ltd., in a substantial “Reverse Triangular Merger” pursuant to which Nestle shall acquire all Osem’s "floating shares” in cash (representing a valuation of NIS 9.13 Billion)

Gornitzky represented Osem Investments Ltd. (“Osem”), one of the leading companies in the food industry is Israel, in a substantial “Reverse Triangular Merger” pursuant to which Nestle S.A. ("Nestle"), the controlling shareholder of Osem, shall acquire all Osem’s "floating shares" (held by the public) in a cash consideration representing a valuation of NIS 9.13 Billion for Osem. Subject to the completion of the merger transaction, Osem will be delisted from TASE and become a private company wholly owned by Nestle.


See full story (Hebrew)


Osem was represented by Lior Porat (Partner), Yair Shiloni (Partner) and Uri Heller (Associate). 

December 8th, 2015

Gornitzky's Chaim Friedland (Partner) was featured in "Globes" Magazine expressing his support in amending the Israeli Companies Law in such a way that will facilitate and de-regulate Dual-listed companies.

Gornitzky's Chaim Friedland (Partner) was featured in "Globes" Magazine expressing his support in amending the Israeli Companies Law in such a way that will facilitate and de-regulate Dual-listed companies - “We are on a path to a place more professional and practical. It will be less intimidating to list on Tel Aviv Stock Exchange” said adv. Friedland and added: “the important news is the new direction”.

 

See full story (Hebrew)

November 18th, 2015

Gornitzky represented the underwriters, led by Jefferies and Barclays, in Alcobra Ltd.’s USD 40 million offering of shares on the NASDAQ Global Market. 

Gornitzky represented the underwriters, led by Jefferies and Barclays, in Alcobra Ltd.’s USD 40 million offering of shares on the NASDAQ Global Market. Alcobra is an emerging pharmaceutical company primarily focused on the development and commercialization of a proprietary drug candidate, MDX, to treat cognitive disorders including Attention Deficit Hyperactivity Disorder (ADHD) and Fragile X

Syndrome (FXS).

 

Jefferies and Barclays acted as joint book-running managers for the offering. Oppenheimer, Roth Capital and Cantor Fitzgerald acted as co-managers for the offering

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Avi Meer.

July 21st, 2015

Gornitzky represented the underwriters, led by Jefferies and Cowen and Company, in NeuroDerm's USD 77 million follow-on offering on NASDAQ

 

 

Gornitzky represented the underwriters, led by Jefferies and Cowen and Company, in the USD 77 million follow-on offering of NeuroDerm Ltd. on the NASDAQ Global Market. NeuroDerm Ltd., is a clinical stage pharmaceutical company developing drugs for central nervous system (CNS) diseases.


Jefferies and Cowen and Company acted as joint book-running managers for the offering. Raymond James & Associates and Roth Capital Partners acted as co-managers for the offering.

  

The underwriters were represented by Chaim Friedland (Partner) and Ari Fried (Partner).

 

June 24th, 2015

Gornitzky is representing Delek Group Ltd. in the sale of their controlling stake in Phoenix Holdings Ltd. to an affiliate of Fosun International Limited, the largest privately-owned conglomerate in Mainland China.

Gornitzky is representing Delek Group Ltd. in the sale of their controlling stake in Phoenix Holdings Ltd., which holds one of Israel's leading insurance companies (The Phoenix) and one of Israel’s largest investment houses (Excellence), to an affiliate of Fosun International Limited, the largest privately-owned conglomerate in Mainland China. This is the first time that a Chinese-owned company is purchasing a highly regulated financial institution in Israel. 

 

Delek Group is represented by Pinhas Rubin (Firm Chairman), Elite Elkon May-Tal (Partner), Ori Yitzhak, Avi Meer and Ady Abrams.

March 30th, 2015

Gornitzky represented Melisron Ltd (TASE: MLSR), controlled by the Ofer Brothers Group, in several public Bond Offerings in an aggregate amount of approximately NIS 930 million.

Gornitzky represented Melisron Ltd (TASE: MLSR), controlled by the Ofer Brothers Group, in several public Bond Offerings in an aggregate amount of approximately NIS 930 million, by way of issuing two new Series of Bonds (one secured) and expanding two existing Series of (secured) Bonds.

 

Melisron Ltd was represented by Sharon Werker-Sagy (partner), Inbal Zakai-Horev and Yoav More

 

 

 

 

February 15th, 2015

Gornitzky & Co. represented the underwriters, led by Wells Fargo, in RedHill Biopharma’s USD 14.4 million public offering of American Depository Shares (ADSs) on the NASDAQ Capital Market.

Gornitzky & Co. represented the underwriters, led by Wells Fargo, in RedHill Biopharma’s USD 14.4 million public offering of American Depository Shares (ADSs) on the NASDAQ Capital Market. RedHill Biopharma Ltd., a biopharmaceutical company primarily focused on drugs for inflammatory and gastrointestinal diseases, is dually traded on the NASDAQ and the Tel Aviv Stock Exchange (NASDAQ: RDHL, TASE: RDHL).

 

Wells Fargo Securities acted as lead book-running manager and Roth Capital Partners acted as joint book-running manager for the offering. MLV & Co acted as co-manager for the offering.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Sagit Amit Evan.


For more information on our capital markets practice, please click here.

January 26th, 2015

Gornitzky & Co. represented Fortissimo Capital Fund in its acquisition of Synergy Cables Ltd. for NIS 15 million. 

Gornitzky & Co. represented Fortissimo Capital Fund in its acquisition of Synergy Cables Ltd. for NIS 15 million. The transaction was conducted through the Beer Sheba District Court in the context of corporate reorganization proceedings with respect to Synergy Cables and its publicly traded bonds.

Synergy Cables, headquartered in Sderot, Israel, is a global supplier of power & electrical cables.

Fortissimo Capital Fund was represented by Chaim Friedland (Partner, Corporate/M&A), Yaron Elhawi (Partner, Restructuring & Insolvency), Yair Shiloni (Partner, Capital Markets), and Avner Finkelshtein (Partner, Antitrust).

November 26th, 2014

Gornitzky represented Northland Capital Markets in the USD 10 million follow-on offering of On Track Innovations Ltd. (NASDAQ: OTIV) on the NASDAQ Global Market.

Gornitzky represented Northland Capital Markets in the USD 10 million follow-on offering of On Track Innovations Ltd. (NASDAQ: OTIV) on the NASDAQ Global Market.  Northland Securities acted as sole underwriter for the offering.

 

Northland Capital Markets, a boutique investment banking firm that focuses on growth companies and institutional investors, was represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

October 6th, 2014

Gornitzky represented the underwriters, led by Deutsche Bank, in the USD 40 million initial public offering of Vascular Biogenics Ltd. (operating as VBL Therapeutics) on the NASDAQ Global Market.

Gornitzky represented the underwriters, led by Deutsche Bank, in the USD 40 million initial public offering of Vascular Biogenics Ltd. (operating as VBL Therapeutics) on the NASDAQ Global Market.

 

Deutsche Bank acted as book-running manager for the offering. JMP Securities and Oppenheimer & Co. acted as co-managers for the offering.

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

August 5th, 2014

Gornitzky & Co. represented the underwriters, led by Credit Suisse and Jefferies in Macrocure Ltd.’s USD 53.5 million initial public offering on the NASDAQ Global Market.

Gornitzky & Co. represented the underwriters, led by Credit Suisse and Jefferies in Macrocure Ltd.’s USD 53.5 million initial public offering on the NASDAQ Global Market.

Credit Suisse and Jefferies acted as joint book-running managers for the offering. Nomura Securities and Oppenheimer & Co. acted as co-managers for the offering.

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

March 26th, 2014

Gornitzky & Co. represented the underwriters, led by Credit Suisse, Jefferies and BMO Capital Markets, in MediWound Ltd.’s USD 80.5 million initial public offering on the NASDAQ Global Market.


Gornitzky & Co. represented the underwriters, led by Credit Suisse, Jefferies and BMO Capital Markets, in MediWound Ltd.’s USD 80.5 million initial public offering on the NASDAQ Global Market.

 

Credit Suisse, Jefferies and BMO Capital Markets acted as joint book-running managers for the offering. Oppenheimer & Co. acted as co-manager for the offering.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

March 5th, 2014

Gornitzky & Co. represented the underwriters, led by Bank of America Merrill Lynch and Jefferies, in the USD 151 million secondary public offering of shares of Enzymotec Ltd. on the NASDAQ Global Select Market.


Gornitzky & Co. represented the underwriters, led by Bank of America Merrill Lynch and Jefferies, in the USD 151 million secondary public offering of shares of Enzymotec Ltd. on the NASDAQ Global Select Market.

 

Bank of America Merrill Lynch and Jefferies acted as joint book-running managers for the offering. Wells Fargo Securities acted as lead manager for the offering and Canaccord Genuity and Wedbush Securities acted as co-managers for the offering.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

January 22nd, 2014

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) in its issuance of public bonds, in which ADO raised NIS 100 million.  

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) of the Shikun & Binui Group (TASE: SKBN) in its issuance of public bonds, in which ADO raised NIS 100 million.  The bonds were secured by shares in a Cypriot company. 

 

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner) and Itamar Ben Yehuda.

October 29th, 2013

Gornitzky represented A.D.O. Group Ltd. in its acquisition of a EURO 98 million German residential real estate portfolio from British property fund manager Stenham.

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) of the Shikun & Binui Group (TASE: SKBN) in its acquisition of a EURO 98 million German residential real estate portfolio from British property fund manager Stenham for cash and shares in A.D.O. Group. The portfolio comprises 48 buildings in Berlin including approximately 1,150 residential units.


A.D.O. Group Ltd. was represented by Yair Shiloni (Partner), Dubi Gross (Partner) and Yehonatan Raff.

June 10th, 2013

Gornitzky represented Kadimastem Ltd. in its USD 5.5 million initial public offering on the Tel Aviv Stock Exchange.

Gornitzky represented Kadimastem Ltd. (TASE: KDST) in its initial public offering of 3.1 million shares on the Tel Aviv Stock Exchange, for approximately USD 5.5 million. The underwriter of the offering was Rosario Capital Ltd.


Kadimastem is an Israeli biotechnology company focused on the industrial development and commercialization of human pluripotent stem cell-based products for the pharmaceutical and/or medical treatment of diabetes, neurodegenerative diseases and other indications.


Kadimastem Ltd. was represented by Sharon Werker-Sagy (Partner) and Etai Mashiah.

April 24th, 2013

Gornitzky advised Prolor Biotech Inc. in their merger with Opko Health Inc., under which Opko will acquire Prolor in a stock-for-stock merger valued at approximately USD 480 million.

Gornitzky advised Prolor Biotech Inc. (AMEX: PBTH; TASE: PBTH) in connection with their proposed merger with Opko Health Inc. (NYSE: OPK). Under the merger agreement, Opko will acquire Prolor for USD 480 million in shares, one third more than its market cap of approximately USD 370 million. The merger is subject to various conditions, including stockholder approval and regulatory approvals.

 

Prolor Biotech Inc., a biopharmaceutical company focused on developing and commercializing longer-acting proprietary versions of already approved therapeutic proteins, was represented by Chaim Friedland (Partner, Corporate), Gil Grady (Partner, Tax), Dubi Gross (Partner, Corporate), Avner Finkelshtein (Antitrust), Yehonatan Raff and Ariel Davis.

February 21st, 2013

Gornitzky & Co. represented Arison Holdings, which holds the controlling stake in Bank Hapoalim, in raising NIS 2.5 billion in a private placement - one of the largest in recent years.

Gornitzky & Co. represented Arison Holdings, which holds the controlling stake in Bank Hapoalim, in raising NIS 2.5 billion in a private placement. This placement is one the largest to transpire in recent years.

 

Arison Holdings was represented by Itay Geffen (Partner) and Yiftah Farber.

December 11th, 2012

Gornitzky & Co. represented Mr. Avi Gross in a USD 2 million non-brokered private placement in Elbit Vision Systems Ltd. 

Gornitzky & Co. represented Mr. Avi Gross in a USD 2 million non-brokered private placement in Elbit Vision Systems Ltd.

 

As part of the private placement, Gross will initially be allotted 5.3 million shares in exchange for USD 500,000 and will also extend the company a USD 300,000 loan. Furthermore, Gross will also receive two warrants - the first warrant exercisable for up to USD 200,000 of ordinary shares and the second for up to USD 1,000,000 of ordinary shares.

 

Mr. Gross was represented by Mr. Timor Belan (Partner) and Mr. Ariel Davis.

 

November 19th, 2012

Gornitzky represented Israel Corporation Ltd. and entities controlled by the Ofer Group in connection with a convertible note financing in Better Place Inc. of up to an aggregate of USD 100 million.

Gornitzky represented Israel Corporation Ltd. and entities controlled by the Ofer Group in connection with a convertible note financing in Better Place Inc. of up to an aggregate of USD 100 million.

 

The investment was made by existing shareholders of Better Place and included, in addition to Israel Corporation and the entities controlled by the Ofer Group, additional shareholders of Better Place, including a leading global financial institution.

 

Zvi Ephrat (Senior Partner), Chaim Friedland (Partner) and Avishai Marom led the representation.

November 5th, 2012

Yair Shiloni, a partner at Gornitzky who specializes in corporate law and capital markets, was featured in an article in the Globes newspaper discussing the recent amendment to the Companies Law.

Yair Shiloni, a partner at Gornitzky who specializes in corporate law and capital markets, was featured in an article in the Globes newspaper discussing the recent amendment to the Companies Law, which will limit the salaries of executives in public companies.


Mr. Shiloni is quoted by the newspaper, where he stated, "The new amendment will not necessarily bring about a change in the rising salaries of executives, which the law amenders are seeking to bring to a halt.  On the other hand, it may create a noticeable difficulty in bringing good managers to public companies, which constitute a source of human capital vital for the success of company, and to dim to some extent the controlling shareholder's ability to control, as he will now be limited in his ability to direct and influence the compensation of executive officers in the company."

September 10th, 2012

Gornitzky represented ADO Group Ltd. in a deal to bring in Harel Group as a strategic partner in the company by way of allotment of shares and convertible debentures to Harel Group in exchange for NIS 75 million.

Gornitzky represented ADO Group Ltd. in a deal to bring in Harel Group as a strategic partner in the company by way of allotment of shares and convertible debentures to Harel Group in exchange for NIS 75 million.

In the context of this transaction, Gornitzky assisted the company in their negotiations with Harel and in the obtainment of the necessary consents from third parties, as well as in capital markets related aspects.

 

ADO Group Ltd. is a public company listed on the Tel Aviv Stock Exchange.

 

Mr. Yair Shiloni (Partner), Mr. Ori Yitzhak and Mr. Yonatan Zehavi led the representation.

 

October 9th, 2011

Gornitzky & Co. represented Melisron Ltd. (TASE: MLSR), of the Ofer Brothers group, in a NIS 529 million issuance of debentures.

Gornitzky & Co. represented Melisron Ltd. (TASE: MLSR), of the Ofer Brothers group, in raising NIS 529 million (approximately USD 150 million) through debentures secured by shares of British-Israel Investments Ltd.

 

In April 2011, Gornitzky represented Melisron in purchasing 70% of the capital stock of British-Israel for approximately NIS 1.7 billion. Melisron-British is now the largest group in the Israeli shopping malls industry, managing approximately 20 shopping malls across Israel.

 

Mr. Itay Geffen (Partner) and Mr. Guy Keren led the representation.

September 22nd, 2011

Gornitzky & Co. represented the underwriters, led by JPMorgan, Credit Suisse and Barclays, in the secondary public offering of Mellanox Technologies Ltd. on the NASDAQ.

Gornitzky & Co. represented the underwriters, led by JPMorgan, Credit Suisse and Barclays, in the secondary public offering of Mellanox Technologies Ltd. on the NASDAQ.

 

Mellanox Technologies Ltd., dually traded on the NASDAQ and the Tel Aviv Stock Exchange, conducted a secondary public offering of its shares on the NASDAQ in September 2011. The underwriters, led by JPMorgan, Credit Suisse and Barclays, were represented by Gornitzky & Co. and White & Case, LLP. The aggregate net proceeds from the offering were approximately USD 105 million, making it the second largest SPO of an Israeli company on the NASDAQ in 2011.

 

Gornitzky's representation of the underwriters was led by Mr. Chaim Friedland (Partner) and Mr. Ari Fried (Partner).

June 11th, 2011

Gornitzky & Co.'s Chairman, Mr. Pinhas Rubin discusses the new Administrative Enforcement Act by the Israel Securities Authority (ISA), saying that it might result in the regulator becoming too aggressive.

Gornitzky & Co.'s Chairman, Mr. Pinhas Rubin discusses the new Administrative Enforcement Act by the Israel Securities Authority (ISA), saying that it might result in the regulator becoming too aggressive.

 

So long as the regulator acts reasonably, Mr. Rubin believes that the new law is good and will result in less criminal proceedings. However, Mr. Rubin raised the concern that the ISA might be too aggressive while implementing the law, "The regulator begins his appointment at the ISA with intellectual modesty, but through the years the modesty becomes arrogance. The regulator is certain that he knows the law better than others and believes that he operates correctly, since everyone does as he commands."

December 19th, 2017

Gornitzky represents Shefa Yamim (A.T.M) Ltd. in its initial public offering on the London Stock Exchange.

Gornitzky represented Shefa Yamim (A.T.M) Ltd. in its initial public offering on the London Stock Exchange. Shefa Yamim is a multi-commodity gemstone mining exploration Company, with operations in Northern Israel.

 

Shefa Yamim (A.T.M) Ltd. was represented by Itay Geffen (Partner) and Associate Yoav Meer.

November 13th, 2017

Gornitzky represents underwriters in RedHill Biopharma’s USD 22.5 million public offering.

Gornitzky represented the underwriters, led by Cantor Fitzgerald and Nomura Securities, in RedHill Biopharma’s USD 22.5 million underwritten public offering of American Depositary Shares (ADSs) on the NASDAQ Capital Market. RedHill Biopharma Ltd., a biopharmaceutical company primarily focused on the development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for the treatment of gastrointestinal and inflammatory diseases and cancer, is dually traded on the NASDAQ and the Tel Aviv Stock Exchange (NASDAQ: RDHL, TASE: RDHL).

 

Cantor Fitzgerald and Nomura Securities acted as joint book-running managers for the offering. SMBC Nikko Securities acted as lead manager and H.C. Wainwright and Roth Capital acted as co-managers for the offering.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Nir Knoll (Associate).

October 24th, 2017

Gornitzky represents a Chinese investment fund in a USD 16 million Series B venture financing round.

Gornitzky represented Shanghai GEOC Hengtong Investment Limited Partnership, a Chinese investment fund, and its affiliates, including Fortune China Limited, in a USD 16 million Series B investment round in S.D. Sight Diagnostics Ltd. in which they were the lead investors.

 

S.D. Sight Diagnostics specializes in utilizing advanced computer vision and machine learning technology in the field of blood diagnostics.

 

Shanghai GEOC Hengtong Investment Limited Partnership and Fortune China Limited were represented by Timor Belan (Partner) and Associates Avi Meer and Sharon Reingwirtz.

September 19th, 2017

Gornitzky represents Delek Group in the sale of the Phoenix shares.

Gornitzky represented Delek Group Ltd. in a transaction for the sale of 4.9% of the share capital of the Phoenix Holdings Ltd., and for the grant of an option to the buyer to acquire the remaining shares held by Delek Group (totaling 52.25%) and thus control of the company. The aggregate consideration payable upon the sale of 4.9% and the exercise of the option equals approximately NIS 2.5 billion. The Phoenix Holdings holds the Phoenix Insurance Company, one of Israel's largest insurance companies, and Excellence, one of Israel's largest investment houses.

 

Delek Group was represented by Pinhas Rubin (Head of the Firm), Elite Elkon (Partner), Ori Yitzhak (Partner), together with Avi Meer and Alon Peled (Associates).

August 15th, 2017

Gornitzky represents SHIR Shlomo Real Estate Ltd. in an exchange tender offer.

Gornitzky represented SHIR Shlomo Real Estate Ltd., of the Shlomo Group, in an exchange tender offer swapping short-term debt with long-term debt, totalling approximately NIS 128 million.

 

The process involved a tender offer over the exchange ratio, allowing the company to choose the exchange ratio between the bond series being swapped, as well as the number of bonds the company wishes to replace.

 

SHIR Shlomo Real Estate was represented by Sharon Werker-Sagy (Partner) and Sharon Strauss (Associate).

July 30th, 2017

Gornitzky represents Venus Concept Ltd. in a USD 37.5 million financing round. 

Gornitzky represented Venus Concept Ltd. in a USD 37.5 million financing round from certain investment funds.

 

Venus Concept was represented by Shlomo Landress (Partner and Co-Head of our Technology practice), together with Oded Uni and Oleg Omeli.

July 11th, 2017

Gornitzky represents Le Peigne in its investment in Riskified Ltd.

Gornitzky represented Le Peigne in its investment in Riskified Ltd., an Israeli startup company specializing in e-commerce fraud prevention, as part of a consortium of investors in Riskified’s USD 33 million financing round. Le Peigne is controlled by the Arnault Group, which also controls Christian Dior and LVMH Moet-Hennessy—Louis Vitton.


Le Peigne was represented by Chaim Friedland (Partner) and Yoav Meer.

June 29th, 2017

Gornitzky represents Oron Group Investments and Holdings in a NIS 100 million public offering.

Gornitzky represented the construction company Oron Group Investments & Holdings Ltd. in a NIS 100 million public offering, by expanding existing bonds series, traded on TASE. Oron was represented by Yair Shiloni (Partner) and Itamar Ben Yehuda (Associate).

June 9th, 2017

Gornitzky represents Noy Fund in its NIS 120 million purchase of Tahal Group's shares.

Gornitzky represents Noy Fund, an Israeli infrastructure and energy investment fund, in the acquisition of Tahal Group's stake in the pumped-storage hydroelectricity project in Kochav Hayarden, for approximately NIS 120 million.

 

Noy Fund was represented by Partners Itay Geffen (Head of Infrastructure), Ronit Rozenstein-Barel and Amit Levy (Associate).

June 1st, 2017

Gornitzky represents Telrad Networks Ltd. in an IPO on TASE.

Gornitzky represented Telrad Networks Ltd., a global provider of innovative telecom solutions, including wireless communication products, in a NIS 162 million IPO on TASE; the IPO was carried out through a combination of the issuance of shares by the Company, along with an offer for sale of shares by the Company's shareholders.

 

Telrad Networks was represented by Yair Shiloni (Partner), Sagit Amit Evan (Senior Associate) and Itamar Ben-Yehuda and Netalee Aviv (Associates).

May 8th, 2017

Gornitzky represents Strauss in a large scale public offering of an aggregate sum of NIS 115.9 million.

Strauss Group, the largest food and beverage company in Israel, issues approximately 1.7 million shares in a public offering for an aggregate sum of NIS 115.9 million.

 

The public offering was conducted following a private placing for institutional bodies, worth approximately NIS 144 million.
 

Strauss Group Ltd. was represented by Sharon Werker Sagy (Partner) and Shai Chen (Associate).

February 22nd, 2017

Gornitzky represents Melisron LTD in an innovative exchange tender offer for the swapping of a  bond series via a tender for the swapping ratio, totaling approximately NIS 540 million

Gornitzky represented Melisron LTD in an innovative exchange tender offer for the swapping of a bond series through a tender for the swapping ratio. As part of the process, short-term bonds were exchanged with long-term bonds (issued by way of expanding a tradable series), totaling approximately NIS 540 million. The exchange tender offer is the first of its kind, allowing the company to determine the swapping ratio between the exchanged bonds, as well as the amount of bonds which the company decides to exchange according to the offers made by holders.

 

Melisron was represented by Sharon Werker-Sagy (partner), Inbal Zackai-Horev (senior associate), Uri Heller and Shai Chen

January 19th, 2017

Gornitzky represented Shikun & Binui Ltd. in its issuance of public bonds, in which Shikun & Binui Ltd. raised NIS 348.5 million, by way of expanding an exist series of bonds


Gornitzky represented Shikun & Binui Ltd. in its issuance of public bonds, in which Shikun & Binui Ltd. raised NIS 348.5 million, by way of expanding an exist series of bonds.

Shikun & Binui Ltd. was represented by Sharon Werker-Sagy (Partner)

January 11th, 2017

Gornitzky represented the Israel Corporation Ltd., the largest shareholder in Israel Chemicals Ltd., in a bond public offering amounting to 810 million NIS

During the month of January 2017 Gornitzky & Co represented the Israel Corporation Ltd., the largest shareholder in Israel Chemicals Ltd., in a bond public offering amounting to 810 million NIS.

 

The Israel Corporation Ltd was represented by Yair Shiloni (Partner) and Itamar Ben-Yehuda.

December 14th, 2016

Gornitzky represented Halman-Aldubi Investment House in a merger with SoHo Real Estate

Gornitzky represented Halman-Aldubi Investment House a merger agreement with SoHo Real Estate. By this merger, Halman-Aldubi, estimated at approximately NIS 141 million, shall turn into a public company, a step that will enable the investment house to grow in additional directions. As of today, the investment house has approx. 14 billion Shekels of assets under management and about 200,000 clients.

 

For further reading in Calcalist (Hebrew)

Halman-Aldubi is represented by Timor Belan (Partner), Yair Shiloni (Partner) and Itamar Ben-Yehuda

November 30th, 2016

Gornitzky represented Menora Mivtachim Insurance in connection with two institutional bodies in a deferred liabilities deed, in the amount of NIS 100 million

Gornitzky represented Menora Mivtachim Insurance Ltd. in connection with two institutional bodies – third parties that are not connected to the Menora group - in a deferred liabilities deed, according to which Menora will be granted an amount of NIS 100 million, in return for recognition as complex secondary capital of Menora Insurance, in accordance with the confirmation of the Director of Capital Market, Insurance and Savings Department.


Menora Mivtachim Insurance Ltd. was represented by Sharon Werker Sagy (Partner).

October 5th, 2016

Gornitzky represented Melisron Ltd., the Israel’s leading real estate company in the field of shopping malls and commercial centers, in a NIS 152 million issuance of public commercial securities.

Gornitzky represented Melisron Ltd., the Israel’s leading real estate company in the field of shopping malls and commercial centers, in a NIS 152 million issuance of public commercial securities.

 

Melisron Ltd. was represented by Sharon Werker Sagy (Partner), Uri Heller and Shai Chen.

September 19th, 2016

Gornitzky represented A.D.O. Group Ltd. (TASE:ADO) of the Shikun & Binui Group (TASE:SKBN) in its issuance of public bonds, in which A.D.O. raised NIS 255 million.

Gornitzky represented A.D.O. Group Ltd. (TASE: ADO) of the Shikun & Binui Group (TASE: SKBN) in its issuance of public bonds, in which ADO raised NIS 255 million.
The bonds were secured by shares of its subsidiary ADO PROPERTIES S.A.. a Luxemburg company whose shares are traded on the Frankfurt Stock Exchange.

 

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner), Itamar Ben-Yehuda and Shai Chen.

May 31st, 2016

Gornitzky & Co represented the Israel Corporation Ltd. (TASE: ILCO) , the largest shareholder in Israel Chemicals Ltd., in two bond issuances of amounting to 1.4 billion NIS.

During the month of May 2016 Gornitzky & Co represented the Israel Corporation Ltd., the largest shareholder in Israel Chemicals Ltd., in two bond issuances amounting to 1.4 billion NIS.

 

The representation included: (a) advising and representing the company before the Securities Authority and the Tel Aviv Stock Exchange Ltd. in order to publish a shelf prospectus, (b) advising and representing the company before the Trustee for bond holders and the Tel Aviv Stock Exchange Ltd., and (c) negotiating with institutional investors, for the completion of the issuance of two series of bonds (one linked to the dollar and another unlinked in shekels) totalling 1.4 Billion shekels, by way of a public offering under the mentioned prospectus.

 

The Israel Corporation Ltd was represented by Yair Shiloni (Partner) and Itamar Ben-Yehuda.

May 23rd, 2016

Gornitzky represented Melisron Ltd in a substitution proceedings of public bonds of its subsidiary, British Israel, with new public bonds of Melisron in a value of NIS 1.85 Billion. 

Gornitzky represented Melisron Ltd., the leading real estate company in the field of shopping malls and commercial centers, in a substitution proceedings of two publicly traded series of bonds issued by Melisron's subsidiary, British Israel, with two new series of publicly traded of Melisron’s in a value of NIS 1.85 Billion. The substitution of the bonds is executed by way of a motion to the Tel Aviv District Court in accorfance with section 350 of the Companies Law, pursuant to which British Israel shall cease to be a "Reporting Entity" in accordace with the Securities Law.


Melisron Ltd was represented by Sharon Werker-Sagy (Partner), Inbal Zackay-Horev, Uri HellerMichael Goffer (Capital Markets) and Noam Ronen (Partner, Litigation).

 

May 1st, 2016

Gornitzky represented Melisron Ltd., the leading real estate company in the field of shopping malls and commercial centers, in a NIS 1.2 billion issuance of public bonds. 

Gornitzky represented Melisron Ltd., the leading real estate company in the field of shopping malls and commercial centers, in a NIS 1.2 billion issuance of public bonds. Melisron issued two new series of bonds, one of them is secured by a real-estate asset, and one existing series was expanded.

 

Melisron Ltd was represented by Sharon Werker-Sagy (Partner), Inbal Zackay-Horev, Uri Heller, Maya Dvir, Michael Goffer (Capital Markets) and Itay Itzkovich (Partner) and Lior Grinblat (Real Estate).

February 8th, 2016

Gornitzky represents SH.I.R. SHLOMO REAL ESTATE LTD in its issuance of public bonds

Gornitzky represented SH.I.R. SHLOMO REAL ESTATE LTD of the Shmeltzer Group in its issuance of public bonds, in which SH.I.R. SHLOMO REAL ESTATE LTD raised NIS 100 million, by way of issuing a new series of bonds.

 

SH.I.R. SHLOMO REAL ESTATE LTD was represented by Sharon Werker-Sagy (partner) and Maya Dvir

January 3rd, 2016

Gornitzky represents Israel Corp  in a motion to approve a derivative suit pertaining Israel Corp's previous CEO, Mr. Nir Gilad, employment terms prior to 20th Amendment of the Israeli Companies Law.

Gornitzky successfully represented Israel Corp in a motion to approve a derivative suit pertaining Israel Corp's previous CEO, Mr. Nir Gilad, employment terms approved prior to 20th Amendment of the Israeli Companies Law (addressing the compensation and salary approval process for senior executives). The Tel Aviv District Court dismissed the suit against Israel Corp and its Board Members.


See full articel in Globes magazine (Hebrew)


Israel Corp was represented by Pinhas Rubin (Firm Chairman), Lior Porat (partner) and Shirin Gabbay-Metzger

December 2nd, 2015

Gornitzky represents the underwriters, led by Apex Issuances, in a NIS 265 million unsecured bonds IPO on the Tel Aviv Stock Exchange, made by Strawberry Fields REIT, Ltd.

Gornitzky represents the underwriters, led by Apex Issuances, in a NIS 265 million unsecured bonds IPO on the Tel Aviv Stock Exchange, made by Strawberry Fields REIT, Ltd, a BVI company based in the U.S. which owns 39 income generating properties in the U.S., used as retirement homes and medical facilities. 

 

The underwriters were represented by Yair Shiloni (partner) and Sagit Amit Evan.

July 22nd, 2015

Gornitzky represents the underwriters, led by Nomura and Roth Capital, in RedHill Biopharma’s USD 40 million public offering of ADSs

 

 

 

 

 

Gornitzky represented the underwriters, led by Nomura and Roth Capital Partners, in RedHill Biopharma’s USD 40 million public offering of American Depository Shares (ADSs) on the NASDAQ Capital Market. RedHill Biopharma Ltd., a biopharmaceutical company primarily focused on drugs for inflammatory and gastrointestinal diseases, is dually traded on the NASDAQ and the Tel Aviv Stock Exchange (NASDAQ: RDHL, TASE: RDHL).

 

Nomura Securities and Roth Capital Partners acted as joint book-running managers for the offering. MLV & Co. and H.C. Wainwright acted as co-managers for the offering.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Sagit Amit Evan.

 

 

June 29th, 2015

Gornitzky represents a subsidiary of Menora Mivtachim Insurance Ltd in the drafting and publishing of a shelf prospectus and a following public offering of Subordinated Notes

 

 

Gornitzky represented a subsidiary of Menora Mivtachim Insurance Ltd, a leading Israeli insurance company, in the drafting and publishing of a Shelf Prospectus on the Tel - Aviv Stock Exchange, followed by a public offering of subordinated notes in an amount of approximately NIS 250 million.

 

Menora Mivtachim was represented by Sharon Werker-Sagy (partner) and Yoav More

 

 

 

June 22nd, 2015

Gornitzky representsShikun & Binui Ltd in the drafting and publishing of a shelf prospectus, and a following debt offering

 

 

Gornitzky represented Shikun & Binui Ltd, one of Israel’s leading real - estate and infrastructure companies, in the drafting and publishing of a shelf prospectus on the Tel - Aviv stock Exchange, followed by a debt offering to the public in an aggregate amount of approximately NIS 350 million.

 

Shikun & Binui Ltd was represented by Sharon Werker-Sagy (partner), Yoav More, Ben Goldman and Michael Goffer.

March 25th, 2015

Gornitzky & Co. represented the underwriters, led by Wells Fargo and RBC, in the USD 40 million initial public offering of SteadyMed Ltd. on the NASDAQ Global Market. 

Gornitzky & Co. represented the underwriters, led by Wells Fargo and RBC, in the USD 40 million initial public offering of SteadyMed Ltd. on the NASDAQ Global Market. SteadyMed is a specialty pharmaceutical company focused on the development of drug products to treat orphan and high value diseases with unmet parenteral delivery needs.

Wells Fargo Securities and RBC Capital Markets acted as joint book-running managers for the offering. JMP Securities acted as lead manager for the offering.

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

February 9th, 2015

Gornitzky represented 3D Systems Corporation (NYSE: DDD) in its USD 97 million acquisition of all outstanding shares in Cimatron Ltd. (NASDAQ: CIMT), a leading provider of integrated 3D CAD/CAM software products.

Gornitzky represented 3D Systems Corporation (NYSE: DDD) in its USD 97 million acquisition of all outstanding shares in Cimatron Ltd. (NASDAQ: CIMT), a leading provider of integrated 3D CAD/CAM software products.

 

3D Systems Corporation, a market leader in 3D printing, was represented by Chaim Friedland (Partner), Assaf Harel, Yehontan Raff, Danielle Skald (Tax), Bar Sarafian (Labor Law) and Ben Goldman.

January 12th, 2015

Gornitzky represented Israel Corporation as the conglomerate split itself into two parts, and in the dual-listing of its spin-off, Kenon Holdings Ltd., on the TASE and on the NYSE.

Gornitzky represented Israel Corporation (TASE: ILCO) as the conglomerate split itself into two parts by way of a distribution of a dividend in kind, and in the dual-listing of its Singaporian spin-off corporation, Kenon Holdings Ltd. (TASE: KEN, NYSE: KEN) on the Tel Aviv Stock Exchange and on the New York Stock Exchange.

 

Israel Corporation and Kenon were represented by Pinhas Rubin (Firm Chairman) and Lior Porat (Partner), together with Elite Elkon-May-Tal (Partner), Gil Grady (Partner, tax), Yair Shiloni (Partner, capital markets), Idan Baki (Partner, finance), Avner Finkelshtein (Partner, antitrust), Nurit Traurik (Partner), Ori Yitzhak, Itamar Ben Yehuda (capital markets), Avishai Marom, Amit Levy, Shira Porat (finance) and Natalie Dragot.

November 19th, 2014

Gornitzky represented the underwriters, led by Jefferies and Cowen and Company, in the USD 45 million initial public offering of NeuroDerm Ltd. on the NASDAQ Global Market.

Gornitzky represented the underwriters, led by Jefferies and Cowen and Company, in the USD 45 million initial public offering of NeuroDerm Ltd. on the NASDAQ Global Market.


Jefferies and Cowen and Company acted as joint book-running managers for the offering. Oppenheimer & Co. and Roth Capital Partners acted as co-managers for the offering.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yehonatan Raff.

September 29th, 2014

Gornitzky represented Israel Corporation in a USD 200 million derivative financing transaction, with respect to shares of Israel Chemicals (ICL).

Gornitzky represented Israel Corporation (TASE: ILCO) in a USD 200 million derivative financing transaction, with respect to shares of Israel Chemicals (TASE: ICL), which were part of a sale offering of ICL's shares on the New York Stock Exchange.

 

Israel Corporation was represented by Idan Baki (Partner) and Nurit Traurik (Partner).

May 5th, 2014

Chaim Friedland, a partner at Gornitzky & Co., was featured in an article in The American Lawyer magazine on the rising business activity in Israel's financial markets.

Chaim Friedland, a partner at Gornitzky & Co., was featured in an article in The American Lawyer magazine on the rising business activity in Israel's financial markets and the growing number of Israeli companies listed outside Israel.

 

Mr. Friedland attributes the growth to the fact that, "The companies that are coming out of Israel are highly innovative and cater to global markets.  They have outgrown the size of the Israeli stock exchange." Mr. Friedland believes that Israeli companies' natural affinity for US stock markets creates an opportunity to raise US investors' awareness of Israeli companies.  This, together with the inviting Israeli regulations for foreign investors, has had a major hand in the economic turnaround Israel has witnessed over the last year.

March 5th, 2014

Gornitzky & Co. represented the underwriters, led by Jefferies, in Compugen Ltd.’s USD 72.5 million public offering on the NASDAQ Global Market.


Gornitzky & Co. represented the underwriters, led by Jefferies, in Compugen Ltd.’s USD 72.5 million public offering on the NASDAQ Global Market. Compugen is dually traded on the NASDAQ and the Tel Aviv Stock Exchange (NASDAQ: CGEN, TASE: CGEN).

 

Jefferies LLC acted as the sole bookrunner for the offering.  JMP Securities, Oppenheimer & Co. and Chardan Capital Markets acted as co-managers.


The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Ariel Davis.

March 4th, 2014

Gornitzky & Co. represented the underwriters, led by Goldman Sachs, Credit Suisse and Jefferies, in Lumenis Ltd.’s USD 75 million public offering on the NASDAQ Global Select Market.

Gornitzky & Co. represented the underwriters, led by Goldman Sachs, Credit Suisse and Jefferies, in Lumenis Ltd.’s USD 75 million public offering on the NASDAQ Global Select Market.

 

Goldman Sachs, Credit Suisse and Jefferies acted as joint book-running managers for the offering. Wells Fargo Securities acted as co-manager for the offering.


The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Sagit Amit Evan.

January 15th, 2014

Gornitzky & Co. represented A.D.O. Group Ltd. (TASE: ADO) in a NIS 100 million public rights issue offering.

Gornitzky & Co. represented A.D.O. Group Ltd. (TASE: ADO) of the Shikun & Binui Group (TASE: SKBN) in its public rights offering, in which the company raised NIS 100 million in exchange for shares and options.

 

A.D.O. Group Ltd. was represented by Yair Shiloni (Partner) and Itamar Ben Yehuda.

October 3rd, 2013

Gornitzky & Co. represented the underwriters, led by Bank of America Merrill Lynch and Jefferies, in the USD 71 million initial public offering of Enzymotec Ltd. on the NASDAQ Global Select Market.

Gornitzky & Co. represented the underwriters, led by Bank of America Merrill Lynch and Jefferies, in the USD 71 million initial public offering of Enzymotec Ltd. on the NASDAQ Global Select Market.

 

Bank of America Merrill Lynch and Jefferies LLC acted as joint book-running managers for the offering. Wells Fargo Securities, LLC acted as lead manager for the offering and Canaccord Genuity and Wedbush Securities acted as co-managers for the offering.

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

June 5th, 2013

Gornitzky & Co. represented the underwriters led by Morgan Stanley and Jefferies in the USD 59 million initial public offering of Kamada Ltd. on NASDAQ.

Gornitzky & Co. represented the underwriters, led by Morgan Stanley and Jefferies, in the USD 59 million initial public offering of Kamada Ltd. on the NASDAQ Global Select Market.

 

Kamada, a biopharmaceutical company engaged in specialty life-saving therapeutics, was traded on the Tel Aviv Stock Exchange prior to the NASDAQ offering and its shares are now traded on both the TASE and NASDAQ.

 

The underwriters were represented by Chaim Friedland (Partner), Ari Fried (Partner) and Yoav Meer.

April 18th, 2013

Gornitzky represented Tene Investment Funds, a private equity firm, in the USD 168 million sale of its holdings in Caesarstone Sdot-Yam Ltd. (Nasdaq: CSTE) in an underwritten follow-on offering. 

Gornitzky represented Tene Investment Funds, a private equity firm, in the USD 168 million sale of its holdings in Caesarstone Sdot-Yam Ltd. (Nasdaq: CSTE) in an underwritten follow-on offering.

 

J.P. Morgan Securities LLC, Barclays Capital Inc. and Credit Suisse Securities (USA) LLC served as the joint bookrunning managers for the offering, and Stifel, Nicolaus & Company, Incorporated and Robert W. Baird & Co. Incorporated served as the co-managers for the offering.

 

The representation of Tene Investment Funds was led by Chaim Friedland (Partner) and Ari Fried (Partner).

 

January 2nd, 2013

Gornitzky & Co. represented Hadas Arazim Investment House, in a merger transaction with Halman-Aldubi, subsequent to which the joint investment house will manage assets and investment in the scope of approximately USD 5 billion.

Gornitzky & Co. represented Hadas Arazim Investment House, in a merger transaction with Halman-Aldubi, subsequent to which the joint investment house will manage assets and investment in the scope of approximately USD 5 billion.

 

The transaction included the transfer and sale of shares in Hadas Arazim's subsidiaries, the merger of Hadas Arazim's provident funds management company with Halman Aldubi's provident funds management company and the refinancing of bank loans.

 

Hadas Arazim was represented by Chaim Friedland (Partner), Timor Belan (Partner) and Inbal Ravid-Badner.

December 2nd, 2012

Dr. Zvi Gabbay, a partner at Gornitzky and former Head of Enforcement at the Israel Securities Authority, believes that two recent decisions rendered by an Administrative Enforcement Tribunal are indicative of the ISA's attempt to utilize the administrative enforcement procedure in order to broaden the scope of its authority.

According to the Israeli newspaper, Calcalist, Dr. Zvi Gabbay, a partner at Gornitzky and former Head of Enforcement at the Israel Securities Authority, believes that two recent decisions rendered by an Administrative Enforcement Tribunal are indicative of the ISA's attempt to utilize the administrative enforcement procedure in order to broaden the scope and type of entities that are under its supervision, such as the non-public companies Tnuva and Apax and day trader Rafael Dahan.

 

"I believe that the administrative enforcement proceeding is good and appropriate, and yet it seems that the ISA utilizes it to expand the scope of its authority, and that is not what it was intended for," said Dr. Zvi Gabay. "Of the only two decisions that the Administrative Enforcement Committee publicized thus far, you can see a clear trend towards organizations and people who are not supervised by the ISA.  It is inappropriate to take advantage of the process for expanding control."

 

Dr. Gabbay was interviewed in response to the Administrative Enforcement Committee decision rendered in the matter of Refael Dahan, an independent investor, whose daily investment activities were interpreted by the ISA as deliberate influence on certain share prices.

November 9th, 2012

Gornitzky is representing a private Canadian company, controlled by Elad Canada's controlling shareholder, in the issuance of an ordinary tender offer for the purchase of traded Series 1 options of Elad Canada.

Gornitzky is representing a private Canadian company, controlled by Elad Canada's controlling shareholder, in the issuance of an ordinary tender offer for the purchase of traded Series 1 options of Elad Canada.  The options are exercisable for ordinary shares, at a total amount of up to approximately NIS 61 million.

 

Sharon Werker-Sagy (Partner) and Etai Mashiah are leading the representation.

October 22nd, 2012

Dr. Zvi Gabbay, the former Head of Enforcement at the Israel Securities Authority, and Etai Mashiah were featured in an article in the Calcalist newspaper in which they gave tips to corporations following recent amendments to the administrative enforcement procedure legislation.

Dr. Zvi Gabbay, the former Head of Enforcement at the Israel Securities Authority, and Etai Mashiah were featured in an article in the Calcalist newspaper in which they gave tips to corporations following recent amendments to the administrative enforcement procedure legislation.

 

One of their suggestions is to implement an internal compliance program, and the two have co-authored an article ("Internal Compliance Programs: The Challenges Facing the Israeli Regulator") in which they discuss lessons learned from the United States with regard to this practice.

February 1st, 2012

"Administrative Enforcement of Israeli Securities Laws," authored by Dr. Zvi Gabbay, is the first and only book of its kind in Israel to analyze the various administrative enforcement procedures and processes by which the Israel Securities Authority (ISA) operates and employs its enforcement powers.

"Administrative Enforcement of Israeli Securities Laws," authored by Dr. Zvi Gabbay, is the first and only book of its kind in Israel to analyze the various administrative enforcement procedures and processes by which the Israel Securities Authority (ISA) operates and employs its enforcement powers.

 

The book reviews three main administrative enforcement procedures: a procedure for casting "simple" financial sanctions; an administrative enforcement process adjudicated by an administrative tribunal, authorized to impose significant financial sanctions, to cancel permits and licenses granted by the ISA, including barring officers and directors from serving in this capacity in publicly held companies for a limited period; and an administrative process enabling regulated entities to reach agreements resolving their matters with the ISA by way of agreed-upon sanctions, without admitting or denying the allegations.

September 26th, 2011

Gornitzky & Co. represented Delek Real Estate Ltd.'s controlling shareholder, Mr. Yitzhak Tshuva, in signing an agreement with the company's bondholders, delaying the payments of several series of debentures.

In negotiations between the representatives of several of Delek Real Estate Ltd.'s bondholders and the company's controlling shareholder, Mr. Yitzhak Tshuva, the parties agreed that payments to the bondholders will be delayed by several months and in return, the bondholders will receive NIS 13 million in compensation.

 

Mr. Ofer Tzur (Partner, Head of Litigation) represented Mr. Tshuva in this case.

September 20th, 2011

Gornitzky & Co. represented Bezeq Ltd. in obtaining the court's approval for a NIS 3 billion dividend, by way of capital reduction and also in recent court deliberations regarding the dividend

In March 2011, Bezeq Ltd. was authorized by the Financial Department of the District Court in Tel-Aviv (the Honorable Judge Danya Kareth Meyer) to distribute a NIS 3 billion dividend by way of capital reduction, as was recommended by its board of directors and approved by its general assembly. The approved dividend is to be paid in six payments, over a period of three years. In September 2011, the District Court ruled, inter alia, that a request to object to the dividend filed by two of Bezeq Ltd.'s bond holders a few months following the court's approval, became redundant.


Bezeq The Israel Telecommunications Co. Ltd. which is Israel's largest telecom operator, was represented by Mr. Pinhas Rubin (Firm Chairman), Mr. Lior Porat (Partner) and Mr. Asaf Avtuvi.