Arieli Group submits offer to acquire Spacecom

Arieli Group has submitted a suggestion to amass Spacecom (House Communication) (TASE: SCC). Arieli Group, owned by Eric Bentov and Evan Renov, is providing to inject $18 million into Spacecom’s coffers in trade for 82% of the corporate’s shares, whereas the remaining steadiness of shares (18% might be allotted to bondholders). The corporate can be providing full compensation of the remaining debt to all bond sequence holders (Sequence 16, 17 and 18 based on the par worth), and the difficulty of convertible bonds totaling $65 million, which represents 15% of the par worth of Sequence 16 and 18 and 30% of Sequence 18. Actually, Arieli is providing full compensation of three bond sequence for a par worth of $367.5 million, with most of it in money and the steadiness in convertible bonds.

Based on Arieli Group’s provide, the inherent upside is mirrored in the truth that it can allocate 18% of the corporate’s capital to the bondholders (pro-rata between the sequence), and in the truth that the convertible bond component grants possession of 30% of the absolutely diluted share capital (based mostly on a worth of $150 million, earlier than cash, in the course of the bond time period).

In contrast with different provides on the desk for Spacecom bondholders, Arieli Group’s says its provide maximizes worth for bondholders and successfully grants them over 100% of the par worth (the adjusted worth of the bond, together with curiosity as of June 30, 2025, excluding curiosity on arrears, based mostly on the US$/NIS trade price as of Might 8, 2025 and listed based on the phrases of the bond sequence. With the lion’s share in money. The brand new convertible bonds that might be issued, if and when, might be for a interval of three years (in a single excellent fee) and can bear a set annual curiosity of seven% linked to the greenback, to be paid as soon as each six months.

Arieli Group’s acquisition provide for Spacecom is led by Arieli Group cofounder and managing director Eric Bentov, a serial entrepreneur within the US who has led investments in a number of expertise firms and innovation platforms. Bentov has a long time of expertise in founding expertise facilities, innovation facilities and tutorial expertise switch firms. Bentov is a member of the boards of administrators of Elron Ventures, RDC – the event arm of Rafael Superior Protection Programs and a few of the group’s portfolio firms.

Bentov stated, “We at Arieli imagine in our talents to develop the corporate with a singular and progressive technique and suppose that it’ll take the corporate to new heights and produce larger worth for bondholders. Our provide brings the very best worth of all of the provides submitted to the bondholders, offering them with over 100% of the par worth.”

Arieli Group was based a decade in the past by Eric Bentov and Evan Renov on the idea of enterprise collaborations and former philanthropic exercise. Extra companions within the group are Elron Ventures chairman Lisya Bahar-Manoah and Or Habib, chief of its innovation arm. The group’s funding portfolio is various and consists of cybersecurity, deep-tech, protection, vitality, fintech and healthcare firms, and consists of early-stage investments alongside growth-stage investments. Amongst its most notable investments, as talked about, is Israel’s oldest enterprise capital fund, Elron Ventures, which brings collectively 26 cybersecurity and medical machine firms.

Arieli Group leverages the present assets at its disposal, optimizing current belongings, and has made two exits from Elron because the September 2024 acquisition: Elron’s shares in IronScales had been offered for $12.3 million, producing a 23-fold return on funding, and Sixgill was offered for $115 million.

Arieli Group has collected expertise in international markets, together with exercise on Wall Avenue, management of an funding financial institution with regulatory licenses in New York, fund-to-fund investments, and main monetary rounds. As well as, the group has strategic joint ventures with the Hebrew College of Jerusalem, Bar-Ilan College, Shaare Zedek Medical Middle, and different universities within the US.

Printed by Globes, Israel enterprise information – en.globes.co.il – on June 18, 2025.

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