On March 22, 2017, XTL Biopharmaceuticals Ltd. (TASE:XTLB) closed the transaction. The transaction included participation from existing investors. The warrants have a term of five and a half years and will be exercisable on the later of the effectiveness of the authorized share increase or six months following the issuance date. There was no placement agent in connection with the transaction. The inventors entered into lock up agreements in connection with the securities issued. The company received funding from 22 investors.