Elbit Imaging Announces Investment Of Up To $62.5 Mln In InSightec

(RTTNews) - Elbit Imaging Ltd. (EMITF) Sunday said InSightec Ltd. has entered into a Series D Preferred Share Purchase Agreement with York Global Finance II S.a r.l., an affiliate of York Capital Management as well as the investor, following which the investor and some subsequent investors will invest between $50 million and $62.5 million in InSightec.

The company holds approximately 90 percent of the share capital of Elbit Medical Technologies Ltd. which, in turn, holds around 48.2 percent of the share capital in InSightec.

As part of the transaction, Elbit Medical and other current shareholders of InSightec have agreed to amend the Securityholders Agreement among them.

As per the deal, at closing, the investor has invested $37.5 million in InSightec in consideration for 19.33 million Series D Preferred Shares.

The transaction reflects a pre money valuation of InSightec of $ 200 million.