One of Israel’s largest investment houses takes strategic stake in Mobilicom

  • Psagot – one of Israel’s largest international investment houses, managing over 180Bn ILS (A$70 Bn), has signed an agreement to invest approximately A$3.65m in Mobilicom, with another strategic entity investing approximately A$190,000
  • The total raised is A$3.84m – comprising 64m shares at $0.06 per share and a further 64m options, exercisable within 2 years at $0.09
  • Shares will be escrowed for a six-month period and the options will be subject to shareholder approval at the upcoming AGM
  • The funds will be used to execute Mobilicom’s growth strategy as previously announced to the market
    5 May 2021 – Mobilicom Limited (Mobilicom or the Company) is pleased to announce that it has agreed terms with Psagot Investment House to take a strategic stake in Mobilicom.
    Psagot is an Israeli investment firm and the country’s largest pension fund manager, managing over 180Bn Israeli New Shekels (A$70Bn). Psagot in turn is owned by Apax Partners LLP, a British private equity firm that has raised over US$50Bn since being founded in 1969.
    The Psagot Pension Fund and the Psagot Pareto Hedge Fund will invest in a combined 60.8m shares at $0.06, with another investor taking up 3.2m shares. These shares will be escrowed for a six-month period from the date of issue.
    The investors will, subject to shareholder approval, also receive an equal number of options in the Company (i.e. on a 1:1 basis) exercisable at $0.09 a share and exercisable 2 years from the issue date (subject to the acceleration provisions set out in the annexure). Full details of the terms of the placement are set out in the annexure to this announcement.
    The placement shares will be issued under Listing Rule 7.1 and 7.1A.
    The investment comes at an opportune time for Mobilicom to leverage its expertise into this rapidly growing market.
    Fortune Business Insights has projected that the global commercial drone market size will increase 5- fold from 2019, reaching more than US$8.5Bn by 2027. Inside Unmanned Systems predicts that the total drone market will top $26 Billion. Tractica has projected that commercial drone hardware will
    exceed $14 Billion with over 4M commercial drones shipped worldwide, an increase of 800% from 2019. Both Government and Commercial markets have shown significant growth, and regulatory bodies, including the European decision from Jan 2021 (EASA), have opened the skies for commercial drone operations.
    Mobilcom CEO Oren Elkayam commented: “The fact that such a large institutional equity investment house decided to take a significant stake in Mobilicom and support its growth strategy going forward, is evidence of our potential in the drones and robotics market revolution and the company’s uniqueness as an end-to-end provider of cybersecurity & smart solutions for drones & robotics & autonomous platforms.” “The additional funding will be used to accelerate Mobilicom’s business activity in international markets with emphasis on top-tier drone & robotics manufacturers.”
    Psagot CIO, Gat Megiddo commented: “The unique position Mobilicom holds with its established endto-end technology offering, wide portfolio of market proven products, and the vendor of choice by many leading international drone and robotics platforms manufacture – positions it at the forefront of the drones & robotics commercial revolution that is set to change the world.
    “We believe in the company’s focused strategy, that differentiates it from other players as a one-stopshop for all smart solutions, software, hardware and cybersecurity for this market. The funding will enable Mobilicom to execute its growth strategy to be a Tier-1 provider in this market.”