Key Developments: Alvarion Ltd (ALVR.TA)

ALVR.TA on Tel Aviv Stock Exchange

222.70
15 Jan 2014
Price Change (% chg)

0.20₪ (+0.09%)
Prev Close
221.80₪
Open
225.90₪
Day's High
226.00₪
Day's Low
220.10₪
Volume
90,735
Avg. Vol
95,692
52-wk High
2,100.00₪
52-wk Low
55.00₪

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Latest Key Developments (Source: Significant Developments)

Alvarion Ltd Receiver's Request To Submit Creditors' Plan By October 16 Approved By Court
Tuesday, 8 Oct 2013 02:57am EDT 

Alvarion Ltd announced that Tel Aviv-Yaffo District Court approved the Company Receiver's request to submit the creditors' plan by October 16, 2013.  Full Article

Alvarion Ltd Provides Update On Creditors Plan; Court-Appointed Receiver Needs More Time To Submit Creditors Pland And Settlement
Sunday, 6 Oct 2013 03:29am EDT 

Alvarion Ltd announced that Mr. Yoav Kfir, the court-appointed receiver, requested extension to submit the Company’s creditors plan and settlement, until October 16, 2013.  Full Article

Alvarion Ltd's Assets Sold To Valley Telecom Ltd; Creditors Plan And Settlement To Be Submitted To Court
Sunday, 22 Sep 2013 04:17am EDT 

Alvarion Ltd (Alvarion) announced that Valley Telecom Ltd (Valley) made the payment of ILS 12.5 million, in accordance with Tel Aviv–Yaffo District Court’s approval to sell Alvarion assets to Valley, the latter assumed the management and financing of the initial’s operations, and the Court-mandated operating plan ended. As announced September 4, 2013, Tel Aviv–Yaffo District Court approved the sale of Alvarion (in receivership) assets to Valley for no less than ILS 38 million, and subsequent payments are to be made no later than the end of 2014. Additionally, a creditors plan and settlement will be submitted to the Court by October 2, 2013, and creditors' meetings will be held no earlier than 14 days thereafter.  Full Article

Alvarion Ltd Announces That Court Granted Two Motions Regarding: Continued Operations and Nasdaq Appeal Process
Sunday, 1 Sep 2013 10:48am EDT 

Alvarion Ltd announced that the court granted two motions submitted by Mr. Yoav Kfir, the court-appointed Receiver, as follows: (i) Motion to continue the process of appeal to Nasdaq for continued listing of the Company's shares, and for that purpose incur additional expenses and make payments to advisors. (ii) Motion to extend the ongoing operation of the Company, through September 15, 2013. This extension will allow for the orderly completion of the sale of the Company to Valley Telecom (subject to the Court's approval), and will give Valley Telecom time to assume the management and financing of the Company's operations commencing on September 15, 2013.  Full Article

Alvarion Ltd's Receiver Files Request With Court To Extend Term Of Operating Plan; To Delist From NASDAQ
Thursday, 22 Aug 2013 10:49am EDT 

Alvarion Ltd announced that the Company’s court-appointed Receiver, Mr. Yoav Kfir, submitted request to the District Court of Tel Aviv – Yaffo to extend the term of the operating plan until August 30, 2013. The plan, approved by the Court July 21, 2013, allows for the business operation of the Company until August 23, 2013, as well as for a bidding process to sell the company and/or its assets. This extension will also permit the Receiver to continue discussions with the parties which submitted offers as part of the bidding process to sell the company and/or its assets. Alvarion Ltd added that, existing offers are currently being evaluated prior to being submitted to the Court for selection and approval. Furthermore, the hearing to appeal NASDAQ’s decision to delist the company’s ordinary shares from NASDAQ, which was previously scheduled to take place on August 29, 2013, has been postponed to September 11, 2013.  Full Article

Alvarion Ltd Announces Private Placement Of $1.2 Million From Clal Finance Underwriting
Tuesday, 25 Jun 2013 11:15am EDT 

Alvarion Ltd announced that it has entered into a definitive agreement with Clal Finance Underwriting Ltd. to invest $1.2 million in the Company ($1 million net of transaction-related expenses). The agreement provides for the issuance of ordinary shares equal to approximately 10.5% of the Company's pre-transaction outstanding share capital, and warrants to purchase an additional number of ordinary shares equal to approximately 5.1% of the Company's pre-transaction outstanding share capital. The exact number of shares to be issued to Clal Finance and the number of shares issuable upon exercise of the warrants granted to Clal Finance shall be determined based on a formula taking into consideration the market price of the Company's ordinary shares prior to and following this announcement.  Full Article

Alvarion Ltd Announces Private Placements Of $2.9 Million In Total
Wednesday, 29 May 2013 11:00am EDT 

Alvarion Ltd announced that it has executed final agreements to raise an aggregate net amount of $2.9 million from investors in two private placements. The agreements provide, among other things, for the issuance of ordinary shares equal to, as of the current time, approximately 18.5% of the Company's pre-transaction outstanding share capital, in the aggregate, and warrants to purchase an additional number equal to, as of the current time, approximately 4% of the Company's pre-transaction outstanding share capital. The agreements furthermore provide for the potential issuance of additional shares pursuant to certain price adjustment mechanisms. The private placements are expected to be consummated within 10 days after the execution of the foregoing agreements.  Full Article

TigoBusiness Nicaragua Selects Alvarion Ltd's Carrier-Grade Wi-Fi Solution As Platform For Wi-Fi Networks
Tuesday, 21 May 2013 02:00am EDT 

Alvarion Ltd announced that TigoBusiness Nicaragua has chosen the Company's carrier-grade Wi-Fi as platform for Wi-Fi networks. To date, TigoBusiness has deployed several Wi-Fi networks using the Alvarion solution to deliver a range of services throughout the country. To complement fixed network and other services, TigoBusiness Nicaragua is using Alvarion's carrier-grade Wi-Fi base stations to offer customers an end-to-end Wi-Fi solution.  Full Article

Alvarion Ltd Appoints Assaf Katan as Acting Chief Executive Officer
Monday, 22 Apr 2013 07:30am EDT 

Alvarion Ltd announced the appointment of Assaf Katan as Acting Chief Executive Officer of the Company, effective immediately. Mr. Katan joined Alvarion in 2010 as part of the corporate development team and was subsequently appointed Corporate Vice President, Strategy & Business Development and a member of the company's senior management. In this role, Mr. Katan has been involved in the company's major strategic initiatives, including the acquisition of Wavion Ltd. in November 2011, which expanded Alvarion's technology portfolio to include carrier Wi-Fi, and the turnaround plan launched in mid-2012, which included a comprehensive review of Alvarion's sales and marketing efforts and a decision to focus the business on vertical and carrier-grade Wi-Fi markets.  Full Article

Alvarion Ltd And Aptilo Networks Announces Collaboration
Thursday, 21 Feb 2013 02:00am EST 

Alvarion Ltd and Aptilo Networks, provider of mobile data offloading solutions, announced that the companies have successfully tested an end-to-end Wi-Fi mobile data offloading solution combining Alvarion's carrier-grade WBSn family of Wi-Fi base stations with the Aptilo Service Management Platform and the Aptilo Access Controller. The companies intend to market the solution globally.  Full Article

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