Israel Desks

Israel’s ZOOZ Power agrees de-SPAC merger

Idan Nishlis — Thu, 11 Apr 2024 20:37:26 +0000

Tel Aviv listed ZOOZ Power Ltd., a company driving solutions for the electric vehicles (“EV”) charging infrastructure market, has entered into a business combination agreement (de-SPAC) with Keyarch Acquisition Corporation (Nasdaq: KYCH), a Cayman Islands exempted company.

Upon completion, ZOOZ will become dual-listed on the Nasdaq and on the Tel Aviv Stock Exchange.

ZOOZ is committed to accelerating the EV revolution and supporting the mass adoption of EVs around the world, through the widespread deployment of ultra-fast charging infrastructure.

Goldfarb Gross Seligman represented Keyarch Acquisition Corporation, a SPAC, with the transaction led by partners Perry Wildes and Lev Gaft, associate Sherine Badarnah of the International and Hi-Tech Department, partner Adva Bitan and associate Ami Goldberg of the Capital Markets and Corporate Department, partner Ella Tevet and associate Tomer Levy of the IP and Privacy Department, and partner Shay Fahima and associate Lidor Almasy of the Tax Department.

Lowenstein Sandler represented Zooz, led by Dotan Barnea.

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Wiggin and Dana expands its IP Litigation team

Idan Nishlis — Thu, 11 Apr 2024 17:32:31 +0000

With a recognized Israel Desk, the U.S. law firm Wiggin and Dana LLP has expanded its Intellectual Property practice, bringing on board seasoned litigator Kate Cassidy and her team, which had worked at Quinn Emmanuel Urquhart & Sullivan LLP and the litigation boutique LTL Attorneys LLP before joining Wiggin and Dana.

Having joined as a partner in the firm’s growing New York office, Kate also expands the firm’s offering in Life Sciences, as well as the Antitrust and Technology Disputes practice.

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Agmon with Tulchinsky grows Projects and Infrastructure offering

Idan Nishlis — Thu, 11 Apr 2024 17:30:20 +0000

Agmon with Tulchinsky has welcomed a team of lawyers to its Projects and Infrastructure practice, which will be headed by new arrival Sharon Adler.

Sharon, who has held a number of significant roles in the largest and most complex projects undertaken in Israel in the last two decades, is also joined by attorney Matthew Nahum, who joins as partner.

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Egged Public Transportation gets NIS350m shareholder dividend approved

Idan Nishlis — Thu, 11 Apr 2024 17:29:04 +0000

Egged Public Transportation Company (“Egged”) has had a planned NIS350 million dividend to shareholders approved by the Tel Aviv District Court.

The company had submitted a request to the Economic Department in the Tel Aviv-Yafo District Court to have the distribution of the dividend approved, in accordance with the provisions of Section 303 of the Companies Law.

As a result, Egged owner, Keystone Foundation, together with other funds, will receive a dividend of NIS276 million. Egged’s founders are expected to receive around NIS184 million.

Gornitzky & Co. advised the company, with key roles played by Pinchas Rubin, Yair Shiloni, Inbar Boinjo, and Harel Leibovich-Shalev, as well as Perry Zinger and Hodaya Ben Shay Fish. Read more in Calcalist

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BioLineRx announces USD6m direct offering

Idan Nishlis — Thu, 11 Apr 2024 17:23:02 +0000

Israel-based BioLineRX, a biopharmaceutical company traded in both Israel and the U.S., has announced a USD6m registered direct offering, with the transaction led by

Greenberg Traurig. Tel Aviv shareholder Gary Emmanuel, with support from Devora Snyder-Shefer and Michael Soumas, advised the company, which is in the commercial stage and is pursuing life-changing therapies for certain cancers and rare diseases.

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Guesty raises USD130m in Series F funding

Idan Nishlis — Thu, 11 Apr 2024 17:21:29 +0000

Guesty, the leading property management software platform for the short-term rental and hospitality industry, has raised USD 130 million via a Series F funding round led by leading global investment firm KKR.

Inovia Capital, together with existing investors Apax Funds, BDT & MSD Partners and Sixth Street, also joined the round, extending their support following Guesty’s significant expansion and sustained growth

EBN advised the company on its latest milestone, with the team including Roy Caner,

Jonathan Achiron, as well as Amit Horovitz, Yosef Mark, Ori Zahav, head of Data Protection, Lior Etgar, Danit Yehezkel and Tamar Toledano.

The short-term rental industry is growing rapidly and is currently valued at appx. USD277 billion, according to reports.

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McDonald’s buys back Israel franchise from Omri Padan

Idan Nishlis — Thu, 11 Apr 2024 17:14:11 +0000

McDonald’s has taken the decision to buy back its Israel franchise after fallout from the pro-Palestinian boycott against the fast food chain.

Agmon with Tulchinsky represented Omri Padan, who had held the McDonald’s Israel franchise for 30 years and built a chain of 225 outlets with 5,000 employees.

The lawyers acting on the deal included Zvi Agmon, Daniel Sekel and Roey Miodovnik, who represented Alonyal Ltd., the operator of the McDonald’s restaurant chain in Israel. Mattan Meridor (Competition), Menachem (Hemi) Lapidor (Labor law), Miriam Sade Fischer (Data Protection), and Dan Smolansky (Commercial Contracts) advised on other related issues.

Erdinast, Ben Nathan, Toledano represented underwriting transactional insurance company Euclid Transactional, with a team led by Eyal Wiesel, Shani Tal Even-Zahava and Kobi Barkan (Corporate) with Eran Lempert and Ta Alon (Tax), Eyal Birenberg (Labor), Daphna Shalev Korenblit (Environment and Regulation), Nitzan Aberbach (Options), Lior Etgar (Data Privacy) and Michal Rothschild and Omri Gissin (Competition).

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Israeli data security co Cyera raises USD300m via Series C funding

Idan Nishlis — Thu, 11 Apr 2024 17:08:35 +0000

Israeli data security company Cyera has announced the completion of a USD300 million financing round at a company valuation of USD1.4 billion.

The financing round was led by Coatue with the participation of new investors AT&T, Spark Capital and Georgian, and existing investors RedPoint, Accel, Sequoia and Cyberstarts.

This brings to nearly USD500 million the total amount raised by Cyera.

Goldfarb Gross Seligman advised the main investors in this transaction, with the team including Michael Heller and Greg Samodryga, among others.

Regulator to declare big banks as concentration group

Idan Nishlis — Thu, 04 Apr 2024 21:52:49 +0000

Israel Competition Authority commissioner Michal Cohen has informed the five big banks – Bank Leumi, Bank Hapoalim, Israel Discount, Bank Mizrahi Tefahot Bank, and First International Bank of Israel – that she plans to declare them a concentration group in retail banking.

She intends to impose orders on them in the field of deposits.

For more on this, read the article in Globes.

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Startup Nation? Israel’s construction industry struggles to innovate

Idan Nishlis — Thu, 04 Apr 2024 21:43:09 +0000

There is definite scope for improvement and opportunity after an updated report from the Bank of Israel revealed Israel’s lag in competitiveness and innovation in the construction sector compared to other developed nations.

Despite its moniker as the Startup Nation, Israel falls significantly below the OECD average in this sector.