Algomizer, Ltd. (TASE:ALMO) announced a private placement of 739,554 common shares at ILS 4.5 per share for gross proceeds of ILS 3,327,993 on May 23, 2017. If the company decides, during 18 months after the allotment, on the issuance of additional shares at a price lower than ILS 4.2 per share, the company commits to compensate the investors through the allotment of additional shares. The total share outstanding is 19,255,435 ordinary shares. The shares will be listed subject to the approval of Tel-Aviv Stock Exchange and will have a lock up for a period of 6 months. The board has approved the transaction.