Navitas successful fundraise - Tuesday 😁24 Oct 2025 04:05
Translation / Reconstructed Announcement of Navitas’ Equity Offering
One of the Largest Stock Exchange Equity Offerings: Navitas Attracts NIS 14+ Billion in Demand — Partnership Successfully Raises Over NIS 1.2 Billion
Navitas has completed today (Tuesday) one of the largest equity offerings in recent years on the Tel Aviv Stock Exchange. The total capital raised is approximately NIS 1.23 billion. �
Israel Hayom +2
In the institutional (non-uniform) allotment stage, Navitas raised about NIS 877.5 million, with total demand reaching approximately NIS 4.5 billion. �
In the public offering stage, Navitas raised a further NIS 351 million, with demand reaching NIS 14.3 billion. �
The aggregate amount raised (institutional + public) is ~ NIS 1.23 billion. �
bizportal.co.il +2
ערוץ 10 - ערוץ הכלכלה של ישראל +2
Israel Hayom +2
The equity issuance comprised 126,000 bundles (“agads”), of which 90,000 were allocated in the institutional tranche (≈ NIS 887.5 million) and 36,000 in the public tranche (≈ NIS 351 million). �
Each bundle includes 100 participation units plus 34 Series-6 warrants (options). �
The exercise period for these warrants runs until end of August 2026, with an exercise price of NIS 120 per participation unit, tied to a basic USD exchange rate of 3.3430. �
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Based on valuations in the prospectus, each warrant carries an economic value of about NIS 14, meaning the effective price per participation unit (adjusted for the value of the warrant) is ~ NIS 92.7, representing a discount of ~10.8% relative to the closing price before the offering (~NIS 104). �
bizportal.co.il +1
The purpose of this capital raise is to fund the equity component needed for Phase-1 of the flagship Sea Lion project in the Falkland Islands / near Argentine waters, for which development cost is estimated at USD 1.4 billion. �
Under the financing plan, Navitas intends to raise about USD 1 billion via non-recourse project debt, with the remaining USD 700 million in equity to be supplied directly by the partnership. This equity raise is part of that required equity. �
Also included in that equity is a loan that Navitas will make to its British partner, Rockhopper, which holds 35% of the Sea Lion field. �
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In the institutional stage, the issuance price per participation unit was set at NIS 97.5. �
Because demand in the institutional stage was far higher than expected, Navitas expanded that tranche’s raising from original plan to ~NIS 877 million, and then proceeded to the public offering stage. �
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Statement from Chairman Gideon Tadmor:
“The success of the raise and the very high demand reflect an overwhelming vote of confidence by the Israeli capital markets in Navitas’ growth strategy, and
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