Allium Medical Solutions Ltd. (TASE:ALMD) announced that it has entered into an investment agreement for private placement of convertible security for gross proceeds of ILS 1,000,000 on May 17, 2017. The transaction will include participation from returning investor Michael Ilan Management And Investments Ltd holding 10% stake in the company. The security is convertible into the securities of the company or the subsidiary. If during the six months following the date of completion of the deal, the subsidiary will enter into an investment agreement according to which securities will be allocated for at least $2,000,000 (ILS 7,201,720), the sum of such investment will automatically be converted into the subsidiary’s securities, at a price per share equal to the price per share paid by the investors as part of the investment agreement in the subsidiary up to a price per share reflecting a value of $7,000,000 (ILS 25,206,000) to the subsidiary before the invested sum. In case during the six months following the date of completion of the deal the earlier mentioned investment will not take place, or an investment below the $2,000,000 (ILS 7,201,720) mentioned before will take place, such investment will convert in an automatic way into company shares. The completion of the agreement depends on the fulfillment of one of the two conditions within a period not exceeding 60 days from the signing of the date of the agreement. The conversion was made through www.oanda.com on May 17, 2017.