- Mobilicom (MOB) has agreed to investment terms with one of Israel’s largest international investment companies, Psagot Investment House
- Psagot has agreed to invest around $3.65 million in Mobilicom, with another strategic entity set to invest a further $190,000, bringing the total funds raised to $3.84 million
- The investments will be made up of 64 million shares at 6 cents per share, and a further 64 million options, exercisable within two years at 9 cents
- Mobilicom says the investment comes at an opportune time for it to leverage its expertise into this rapidly growing market
- Mobilicom shares are up 9.38 per cent, trading at 7 cents
Cybersecurity and drone platform Mobilicom (MOB) has agreed to investment terms with one of Israel’s largest international investment companies, Psagot Investment House.
Psagot is an investment firm and Israel’s largest pension fund manager, managing over 180 billion Israeli new shekels (roughly A$70 billion). Psagot is owned by Apax Partners, a British private equity firm that has raised over US$50 billion (roughly A$64 billion) since its founding in 1969.
Psagot has agreed to invest around $3.65 million in Mobilicom, with another strategic entity set to invest a further $190,000.
This brings the total funds raised to $3.84 million, made up of 64 million shares at 6 cents per share, and a further 64 million options, exercisable within two years at 9 cents.
The investors will also receive an equal number of options in the company exercisable at 9 cents a share, exercisable two years from the issue date.
“The unique position Mobilicom holds with its established endto-end technology offering, wide portfolio of market proven products, and the vendor of choice by many leading international drone and robotics platforms manufacture – positions it at the forefront of the drones & robotics commercial revolution that is set to change the world,” said Psagot CIO Gat Megiddo.
Mobilicom says the investment comes at an opportune time for it to leverage its expertise into this rapidly growing market.
“The fact that such a large institutional equity investment house decided to take a significant stake in Mobilicom and support its growth strategy going forward, is evidence of our potential in the drones and robotics market revolution and the company’s uniqueness as an end-to-end provider of cybersecurity and smart solutions for drones and robotics and autonomous platforms,” said Mobilcom CEO Oren Elkayam.
“The additional funding will be used to accelerate Mobilicom’s business activity in international markets with emphasis on top-tier drone & robotics manufacturers.”
Mobilicom shares are up 9.38 per cent, trading at 7 cents at 3:30 pm AEST