Augwind Ltd. signed a memorandum of understanding to acquire Biomedico Hadarim Ltd (TASE:BIMC.M) in a reverse merger transaction on April 18, 2019. Augwind Ltd. signed an agreement to acquire Biomedico Hadarim Ltd on July 17, 2019. On date of completion of the deal against the transfer of 100% of Augwind's share capital into Biomedico Hadarim Ltd, Biomedico Hadarim Ltd shall issue to Augwind's shareholders ordinary shares and warrants which shall represent after allocation the sum of ILS 11.8 million, about 66.43% of Biomedico Hadarim Ltd's share capital. The warrants to be issued are to represent, if exercised, about 19.74% of Biomedico Hadarim Ltd's share capital. On September 26, 2019, the transaction has been approved in the meeting. Deal should close in 9 months.

Augwind Ltd. completed the acquisition of Biomedico Hadarim Ltd (TASE:BIMC.M) in a reverse merger transaction in 2019.