Capital Markets

Capital Markets

 
The Capital Market department of Eitan, Mehulal & Sadot provides comprehensive counsel on all legal aspects applicable to raising capital for Israeli companies. Our practice focuses on IPOs and listing of securities for trade on stock exchanges in Israel, the USA and Europe, attending to clients’ needs regarding compliance with reporting and corporate duties applicable to companies publicly traded in Israel and overseas, and advising Israeli and foreign underwriters on raising capital in Israel and overseas. In this context, we prepare companies and shareholders for raising public capital and seeing the process through to the filing of a prospectus and listing of the company’s securities for trade, pursuant to a broad variety of capital raising vehicles and prospectuses, including IPOs, secondary offerings, shelf prospectuses and others, including handling shares, options, bonds, convertible bonds and other financial instruments.

This activity includes capital raising on the Tel Aviv Stock Exchange, stock markets in the United States (including NYSE and NASDAQ), U.K. (including AIM and LSE), and the main securities markets in Europe (Easdaq, EuroNext), including Belgium, Switzerland, Germany and Italy.
 

We continue advising companies also after completion of the public capital raising process, including with respect to compliance with the companies’ immediate and periodic reporting duties in Israel and overseas, and lead clients through the complex regime of the duties of transparency, disclosure and other securities and corporate laws, regulations and directives of the various securities authorities and stock exchanges in Israel and other relevant jurisdictions.
 

We also handle complex and unique transactions requiring creative solutions and innovative capital raising tools, with an eye to changing market needs and the securities laws of the various jurisdictions. Our specialized and comprehensive service relies on the diverse knowledge and years-long experience of the department's attorneys, working together with the firm's other professional departments, while prioritizing the client's needs and fully addressing all commercial aspects in a practical perspective.

 

A leading team

 
The department’s partners have over 20 years of experience as legal counsel to issuers, underwriters and public companies listed on stock exchanges in Israel, the USA and Europe, in capital raising rounds on and off the stock exchange, and in financial and other transactions. In the aggregate, our partners were involved in over 100 prospectuses and continue advising many of the issued companies also after the IPO.
 

Across-the-board service
 

In addition to advising on various aspects of raising capital and the reporting duties of public companies, the department provides legal counsel and support to companies regarding their current activities, and comprehensive, in-depth support where such matters interact with the securities laws applicable to them, primarily:

  • Cross-border mergers & acquisitions and private placements, including unconventional instruments such as reverse triangular mergers, MBOs/LBOs, multi-jurisdictional due diligence investigations and multidisciplinary legal issues on various levels of commercial law.
     
  • Representation of startup companies and entrepreneurs in private financing transactions, including seed, angel and venture capital investments, cross-border transactions and financial instruments, including specialized credit lines and other forms of leveraging (including re-financing).
     
  • Representation of private and institutional investors, including venture capital funds, high-tech incubators, technology commercialization companies of universities and private business entities.
     
  • Stock option plans, including employee, consultant and senior officer stock options, phantom plans and alternative compensation arrangmenets, including representation vis-à-vis the stock exchange authorities.
     
  • Current legal advice to boards of directors, including helping clients navigate the complex securities environment, including the ISA and TASE directives, securities regulations, securities and corporate laws, the corporate governance environemnt materializing in Israel, and corporate governance rules and regulations applicable in Israeli and foreign stock exchanges, and advising companies on the preparations required to formulate and adopt an effective internal enforcement plan.

 

The Department’s Partners:

 Eitan Shmueli 
 Nir Weissberger

 

Department Publications