Kenon Holdings Ltd.’s (NYSE:KEN, TASE:KEN)) (“Kenon”) subsidiary OPC Energy Ltd. (“OPC”) announced on September 21, 2022 that it has agreed to a private placement of OPC’s ordinary shares with a number of classified investors.
OPC has agreed to issue and allot a total of 12,500,000 ordinary shares of OPC for total gross consideration of approximately NIS 500 million (approximately $145 million), at a price of NIS 40 per share, reflecting approximately an 8% discount on the closing price of OPC’s shares as of September 20, 2022. The allocation of shares pursuant to the private placement is subject to the approval of the Tel Aviv Stock Exchange.
Following the completion of the private offering, Kenon is expected to hold approximately 55% of OPC’s shares.
The OPC securities referenced in this press release have not been registered under the Securities Act of 1933, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under that act.