Satcom Systems, Ltd. (TASE:STCM) announced a private placement of 11,680,600 common shares at a price of ILS 0.9 per share for a gross proceeds of ILS 10,512,540 on January 14, 2020. The company will also issue 8,760,450 warrants. Each warrant can be exercised to acquire one common share at a price of ILS 1.3 per share for a period of two years from the closing date. The company issued common shares at a discount against the par value of ILS 1 per share. The issued shares represent 22.7% of the company’s issued and paid up share capital. The transaction was approved by the board of the company. The securities issued are subject to a hold period of six months from the date of closing.