Eviation Aircraft Ltd. announced that it has entered into security purchase agreement for a private placement of up to 6,000,000 common shares at a price of $1.50 per share for the gross proceeds of $9,000,000 on August 23, 2017. The transaction will include participation from Michael Ilan Management And Investments Ltd, Aviv Tzidon, and other investors. Michael Ilan Management And Investments Ltd and Aviv Tzidon will subscribe for 333,333 shares each. The transaction is expected to close by May 31, 2018. On the same day, the company received $521,000 in the first tranche.