The Capri Family Foundation made an offer to acquire remaining 18.1% stake in Optibase Ltd. (NasdaqGM:OBAS) for $10.9 million on February 15, 2022. Offeror to acquire 941,942 shares of Optibase at the price of $11.6 per share in cash. Transaction will be funded from cash on hand and an existing loan facility with a third party lender. Post completion, Optibase will be delisted from Nasdaq or TASE. Under the Israeli Companies Law, the Compulsory Acquisition will occur as a result of the offer if there are validly tendered. Offer is subject to a minimum condition. The board of directors of Optibase has formed the Special Committee. Offer will close on March 17, 2022. As on February 18, 2022, increase the Offer Price to $12.64 per share. Capri expects to amend the Offer to Purchase, on or around February 23, 2022, to update matters that relate to the increased offer price. The Offer will expire on March 22, 2022.

Boaz Noiman and Sharon Rosen of Fischer Behar Chen Well Orion & Co acted as legal advisors, MNS Consulting acted as financial advisor for a fee of $14,700 and D.F. King & Co., Inc. acted as information agent to Capri Family Foundation for a fee of $30,000. Andris Vizbaras of Carter Ledyard & Milburn, LLP acted as legal advisor to Optibase. American Stock Transfer & Trust Company is the U.S Depositary for the offer and Israel Brokerage & Investments - I.B.I. - Ltd. Jon Venick, Sanjay M. Shirodkar and Jeremy Lustman of DLA Piper LLP (US) and Tuvia J. Geffen of Naschitz, Brandes, Amir & Co. acted as legal advisor to special committee. MNS Consulting also acted as fairness opinion provider to Capri Family Foundation. Adva Bitan of Gross, Kleinhendler, Hodak, Halevy, Greenberg & Co. acted as legal advisor to Optibase Ltd.

The Capri Family Foundation completed the acquisition of remaining 18.1% stake in Optibase Ltd. (NasdaqGM:OBAS) for $11.9 million on March 22, 2022. As per the transaction, The Capri Family Foundation acquired 768,905 Optibase shares and will acquire the remaining shares through compulsory acquisition as a result Optibase Ltd. will be delisted and will cease to trade on Nasdaq and the Tel Aviv Stock Exchange.