Landmark Public RMBS Transaction in Israel
Congratulations to our client Credito IPOs Ltd. for completing the first public RMBS Transaction in Israel. This groundbreaking transaction securitizes a NIS 450 million mortgage portfolio secured by first ranking security over residential properties. The senior notes received AAA.il rating from S&P Maalot and will be listed for trading on the Tel-Aviv Stock Exchange (symbol […]
INVESCO Launches New ETF on the Tel Aviv Stock Exchange
The FTSE All-World Index arrives to TASE! Our client, Invesco, has just listed its 17th ETF on the Tel Aviv Stock Exchange – Invesco FTSE All-World UCITS ETF, which is the first ETF on TASE to track the FTSE All-World Index. We congratulate Invesco for this impressive milestone, and are grateful for being able to […]
Three New ETF Registered in the TASE
Exciting News from INVESCO! We are thrilled to announce that INVESCO has recently registered three new ETFs on the Tel Aviv Stock Exchange, further solidifying their commitment to providing innovative investment options for investors in Israel! INVESCO EURO STOXX 50 UCITS ETF ACC INVESCO S&P 500 EQUAL WEIGHT UCITS ETF ACC INVESCO RUSSELL 2000 UCITS […]
$16 Million Seed Funding Round for Cytactic Cyber Management!
Congratulations to Nimrod Kozlovski, Limor Schwartz, Yoni Shrits and to the entire Cytactic team for the closing of a $16M series Seed round, led by Evolution Equity Partners Congratulations and welcome aboard are also due to Evolution Equity Partners and to GP Yuval Ben-Itzhak for joining the Cytactic family. We are confident that this partnership, […]
Global Practice Guide for Medical Cannabis & Cannabinoid Regulation in Israel 202
Exciting News! We’re proud to announce our contribution to the Chambers and Partners Global Practice Guide for Medical Cannabis & Cannabinoid Regulation in Israel 2024! In this detailed guide, we explore the complex legal and practical aspects of Israel’s evolving medical cannabis industry. Our sections cover key topics such as Market Challenges, Legal Risks, and […]
HighBridge and Gamida Cell Secure Court-Approved Creditors’ Arrangement
Congratulations to Highbridge Capital Management and Gamida Cell for their success in securing court-approved creditors’ arrangement plan. This plan will allow Gamida Cell to continue its operations as an Israeli private company, wholly owned by Highbridge. We are proud to act as Israeli counsel to Highbridge in this significant transaction. The Herzog team for this […]
Glassbox is being acquired by Alicorn
Our firm is pleased to represent Glassbox Ltd. in its acquisition by Alicorn VC for approximately USD 150 million. The parties signed a merger agreement on May 17, 2024, and will consummate the transaction after the fulfillment of a number of conditions, including receipt of a ruling from the Israel Tax Authority and approvals from […]
Tax Controversy 2024
We are thrilled to announce that our latest article on Tax Controversy has been published in the esteemed Chambers Practice Guide 2024! The piece delves into the intricate world of tax disputes, providing insights and strategies for navigating these complex issues effectively. Tax controversy can be daunting, but with the right knowledge and approach, it’s […]
NeoGames partners with Big Brazil for its Caesars Brazil brand
We are pleased to announce our involvement in the execution of a landmark transaction for our client, the Neogames group, in which Neogames signed a contract with the leading Brazilian website operator, Big Brazil. As part of this multi-year agreement, Neogames will provide Big Brazil’s Caesars brand with its integrated software solution comprising online games, […]
neogames – Congratulations on completing the sale to Aristocrat for $1.2B!
Congratulations to our long-standing client NeoGames for the completion of their sale to Aristocrat Leisure, for a consideration of approximately $1.2 Billion! This mega transaction was signed in May 2023 and closed now, and is the largest gaming transaction in Israel in the last few years. Kudos to Latham who also acted for NeoGames on […]
Funding round of 100 million dollars completed by CORO
We are so proud to continue the journey with our long term client, Coro, that announced today an impressive $100 million financing round led by One Peak (welcome aboard David Klein), with the participation of Balderton Capital, Energy Impact Partners and NEVA SGR. Congratulations to the Coro team – Guy Moskowitz, Doron Milchtaich, Carmel Domshlak, […]
Secondary Public Offering on Nasdaq by ODDITY TECH LTD.
Congratulations to our client, Oddity Tech Ltd., owner of the makeup brand, Il Makiage, and the haircare and skincare brand, SpoiledChild, on its secondary public offering on NASDAQ, of the shares of one of its major shareholders, the L Catterton fund, for approximately 240 million dollars. Our team included, the Co-Head of our Corporate and Securities […]
Adi Rozenfeld Featured in an Article on the Changes in Israel’s Medical Cannabis Market
In recent months, the medical cannabis market in Israel has undergone significant upheavals and changes. The war and its damages have led to a tremendous increase in demand for licenses issuing and the need to receive cannabis response fast. At the same time, regulatory changes promoted by legislators to ease the regulatory bureaucracy, which burdened […]
Electronic Stock Acquires CRTEAM to Broaden Global Supply Operations
Electronic Stock has recently acquired CRTEAM as part of its strategic expansion into the supply of electronic parts and circuits, both within Israel and on the international stage. This move, led by Herzog partner Eyal Bar-Zvi and lawyers Nor Abo-Ful and Koral Butbika, marks a significant step forward in Electronic Stock’s efforts to broaden its […]
Nayax closed $93 Million offering
We had great pleasure assisting Nayax Ltd. in its $93 million NASDAQ follow-on offering. At times when few companies float on Nasdaq, we are proud to have taken part in this successful Israeli offering. The underwriters of the offering were Barclays, UBS, Oppenheimer, William Blair and Keefe. The Phoenix and Active served as Israeli placing […]
Financing the Acquisition of a 24.9% Stake in Shufersal
Announcing a New Deal: Herzog Represented Israel Discount Bank in Financing Amir Group’s Acquisition of 24.9% Stake in Shufersal Ltd. for NIS 1.5 Billion. The team was led by Irit Roth and Roy Nachimzon, co-heads of the Banking and Finance Department, with Nir Miller and Itay Ben Eliyahu.
REE Automotive Nasdaq Offering
Herzog acted as Israeli counsel to REE Automotive Ltd. (Nasdaq: REE) in its underwritten follow-on offering of their shares on Nasdaq. Roth Capital Partners LLC acted as the underwriter of this offering. This transaction was overseen by our partner Ron Ben-Menachem and associate Yahya Qaq, from our capital markets team.
Completion of the issuance of bonds or Brack Capital Properties N.V. for NIS 360 million
It was our pleasure to represent Brack Capital Properties N.V. (BCP) in a complex issuance of a new series of guaranteed by shares of a subsidiary of BCP. Despite the challenging market condition, the issuance received record demand, resulting in BCP raising approximately NIS 360 million. This transaction was led by our partner and Co-Head […]
Sky Investment Fund acquires Telecode
Reach for the Sky! Telecode Group is being sold to Sky Investment Fund Big congratulation to our client, the Telecode Group and its shareholders, for the sale of a controlling stake in Telecode to Sky Fund. This milestone transaction was led by Partners Asaf Nahum and Moshe Minster with the assistance of many other firm […]
The 10th IATI MNC Forum Annual Conference | 28.1.24
It was a pleasure to host in our conference hall the IATI – Israel Advanced Technology Industries Association MNC Forum’s Annual Meeting for the leaders and CEOs of multinational companies in Israel. As part of the event, we were honored by the presence of Israel’s president, Mr. Yitzhak Herzog, who gave an inspiring speech. The […]
Herzog acted as Israeli counsel to Jefferies as the Global Coordinator in an international secondary offering by the Tel-Aviv Stock Exchange
A secondary offering of the Tel-Aviv Stock Exchang. We were very proud to have assisted Jefferies as the Sole Global Coordinator in a NIS 350 million secondary offering of the TASE. Notable investors in that offering included Mr. Bill Ackman and his wife, Mrs. Neri Oxman, who purchased 4.9% of the company. Mr. Ackman was […]
Broker Dealer Regulation in Israel
On October 10, 2024, the Israeli Ministry of Finance published a memorandum for public comments on the Securities Law (Regulation of Broker-Dealer Activity), 2024 (the “Memorandum”). Please note that public comments can be submitted until November 7, 2024. The Memorandum proposes the enactment of a dedicated chapter in the Securities Law, 1968 (the “Securities Law”), […]
Israeli Coca-Cola Ruling Expands the Arm’s Length Principle
Eyal Bar-Zvi, LLB, LLM, BA (Eco), partner and head of the transfer pricing department, Herzog Yossi Shebson, BA (Eco), transfer pricing department, Herzog Coca-Cola has been at the center of several high-profile tax cases across the globe, including the Israeli tax courts, with rulings that have significant implications for international taxation and the concept […]
Beneficial Ownership Transparency Act (Cayman Island)
New Legislation in the Cayman Islands Requires Cayman Islands’ Incorporated Entities to File Beneficial Ownership Registries Dear Clients and Friends, On July 31, 2024, the Beneficial Ownership Transparency Act (“Act“) of the Cayman Islands came into force, and it will be enforced as of January 1, 2025. The Act applies to all […]
Israeli Government Eyeing Additional Measures to Boost Israel’s High-Tech Industry
Dear Clients, Colleagues and Friends, The Israeli government has recently initiated a comprehensive plan to enhance the competitive advantage of Israel’s high-tech sector, focusing on increasing investments, fostering companies’ growth, and expanding multinational companies’ activities in Israel. This initiative (the “Proposal”) follows a government resolution from January 2024, aimed at incentivizing the high-tech industry and […]
Law of the Draw: Next Level Event
Following the success of our last “Law of the Draw” event, we’re thrilled to announce our upcoming follow-up event together with Taylor Wessing LLP. Join us for a half-day event on Thursday, October 31st 2024, filled with fresh insights into the latest legal challenges and opportunities in the gambling and gaming sectors. We’ll dive […]
Significant Court Ruling in the Field of Investment Advice and Portfolio Management Services
On September 1, 2024, a significant ruling was issued by the Economic Department of the Tel Aviv District Court in case 61235-09-19 Sagiv v. Olympus – Economic Solutions Ltd. (hereinafter: the “Ruling”). The Ruling addresses key issues related to the provision of investment advice, investment marketing, and portfolio management services under the Regulation of Investment […]
Israeli Employment Law – Did you Know? Non-Compete
Dear Clients and Friends, We are pleased to present you with our newest quarterly update for 2024, in which we will describe the local Israeli treatment of the always relevant issue of non-compete restrictions. This update obviously cannot cover all aspects of this important issue, but it will hopefully provide you with some important insights […]
New and Amended 102 Rules
Significant Changes to Filing and Reporting Requirements Relating to Equity Plans and Grants in Israel Dear Clients and Friends, On September 19, 2024, the Israeli Tax Authority (the “ITA“) enacted the Income Tax Rules (Tax Relief in Allocating Shares to Employees) (Amendment), 2024 (the “New Rules“) which amend the rules which were published […]
The European Cybersecurity Directive NIS2 is About to Apply
By Ariel Yosefi, Dan Shalev, Michal Kra & Yuval Glezer General Early in 2023, the Network and Information Security Directive 2022/2555 (“NIS2“) was enacted and replaced the previous cybersecurity Directive 2016/1148 (also known as the NIS Directive). NIS2 demonstrates a wider effort from the European Union to increase cyber resilience across Europe. The scope of […]
