Israeli company iSPAC makes its mark in Tel Aviv stock exchange – The Jerusalem Post

iSPAC announced on Wednesday the completion of their initial public offering (IPO), which refers to the process of offering shares of a private corporation to the public, making their mark in the Tel Aviv stock exchange. 

A SPAC (Special Purpose Acquisition Company) was formed to raise capital through IPO.

iSPAC was founded by Gil Deutsch, Roni Biram, Amir Efrati, and Yaron Bloch. They completed an issue of shares and resulting in NIS 400 million alongside a volume of demand of approximately NIS 575 million.

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PART OF AN electronic board displaying market data is seen at the Tel Aviv Stock Exchange in November. (credit: AMIR COHEN/REUTERS)

The outline of iSPAC was approved after a joint process by the founders and the stock exchange and lasted close to a year. The outline will balance the needs of investors and entrepreneurs. 

Bloch, one of the co-founders of iSPAC, said: “We are completing a first and successful IPO of the first Israeli SPAC, after a long and fruitful process together with members of the Securities Authority and the Stock Exchange.” 

“We believe that the outline that will be formulated will allow us to formulate an attractive deal for investors through a future merger with an Israeli company with significant potential and growth,” he continued. 

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