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Enlight Renewable Energy Ltd (NASDAQ:ENLT). (NASDAQ:ENLT, TASE:ENLT) announced Tuesday that it has secured commitments from several Israeli institutional investors to purchase 11,396,012 ordinary shares in a private placement. The offering price is NIS 87.75 per share, resulting in expected gross proceeds of approximately NIS 1 billion.
The company stated that the closing of the private placement is subject to customary closing conditions, including approval from the Tel Aviv Stock Exchange (TASE) for the shares to be traded on the exchange. The shares offered in this placement will be subject to resale restrictions under Israeli securities law.
According to the company, the private placement was made solely to Israeli institutional investors and not to U.S. persons, in reliance on an exemption provided by Regulation S under the U.S. Securities Act of 1933. The shares will not be registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption.
Enlight Renewable Energy indicated that it intends to use the net proceeds from the private placement to support its growth plan, primarily for projects scheduled for construction in 2026.
This information is based on a statement issued by Enlight Renewable Energy Ltd. in a recent SEC filing.
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