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Eltek Ltd Secures a $4.2 Million Investment From Nistec Ltd.


Monday, 19 Aug 2013 05:24pm EDT 

Eltek Ltd announced that it has entered into a $4.2 million investment agreement with Nistec Ltd. (Nistec), a provider of Electronic Manufacturing Services (EMS) and design services, to sell Nistec 3,532,655 ordinary shares at $1.19 per share. Nistec will also acquire all of the holdings of Eltek's shareholder, Mr. Yossi Maiman (24.1%), for $2.3 million, or $1.45 per share. Upon completion of the transactions, Nistec will hold the majority of Eltek's issued share capital (50.5%). 

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