Kadimastem Ltd. (TASE:KDST) announced that it entered into a convertible loan agreements to receive ILS 2.7 million in funding on January 23, 2017. The transaction will include participation from Michel Revel and other investors. The loan will be converted into ordinary shares of the company through a rights offering or through any other public or private offering. If within 12 months after receiving the loan the company does not issue shares, the loan will be converted automatically into shares at a price representing a discount of 20% from the average price in the Stock Exchange for 30 days before the conversion date. The board of directors have approved the transaction. The transaction completion is subject to Tel-Aviv stock exchange’s approval to list the underlying shares.