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 […]
ISA Published for Public Comments a Draft Directive for Payment Companies and Basic Initiation Providers Regarding Reporting; and Published a Directive to Payment Companies regarding Ancillary Services
Dear Clients and Friends, We would like to bring to your attention that on September 9, 2024, the Israel Securities Authority (the “Authority”) published for public comments a draft directive for payment companies and holders of a basic initiation license or approval regarding reporting to the Israel Securities Authority (the “Draft Reporting Directive”). Additionally, […]
AI Governance in California: Pioneering New Safety Standards
California is poised to lead the nation in regulating artificial intelligence with several major bills awaiting the Governor’s signature. The most prominent of these, SB 1047, the Safe and Secure Innovation for Frontier Artificial Intelligence Models Act (“the AI Safety Act“), represents a comprehensive attempt to manage risks of large AI models. Along side with […]
Key Updates from the Israel Tax Authority: No Estate Tax Legislation Planned and New Voluntary Disclosure Procedure Imminent
Dear Friends, Clients and Colleagues, We wanted to bring to your attention two important matters that were discussed by the Head of the Israel Tax Authority, Mr. Shay Aharonovitz, in the annual meeting of the Tax Committee of the Israeli Bar, held on 5th of September 2024. Estate Tax legislation is not on the Table. […]
Herzog wins the most Tier-1 rankings in ITR World Tax 2025: Israel
Dear Clients, Colleagues, and Friends, We usually use these updates to keep you notified of regulatory and legal developments, but we couldn’t help but share that Herzog has been ranked Tier-1 in more practice areas in the latest International Tax Review directory than any other Israeli firm, including the BIG 4 accounting firms. We won […]
Gilad Majerowicz launched the first two forums of the IJCC
Gilad Majerowicz, Partner at Herzog’s Commercial Department and Chairman of the Israel-Japan Chamber of Commerce (IJCC) launched the first two forums of the IJCC. These forums were dedicated to discussions surrounding defense and homeland security companies, as well as Japanese firms with offices in Israel. The Guest speakers, Prof. Satoshi Ikeuchi from Tokyo University and […]
Israel-Japan high-tech forum of the Chamber of Commerce
Gilad Majerowicz, Partner at Herzog’s Commercial Department and Chairman of the Israel-Japan Chamber of Commerce (IJCC) hosted the launch event of the Israel-Japan high-tech forum of the Chamber of Commerce. Dr. Katsuhiko Kawazoe, CTO of NTT, Japan’s largest telecommunications company, was the guest of honor and keynote speaker, sharing insights on the upcoming revolution in […]
LAMF completed a business combination with Nuvo Group Ltd
Congratulations to our client, LAMF Ventures Corp. I (NASDAQ: LGVC), on the completion of its business combination with Nuvo Group Ltd., a leading innovator in women’s health and connected pregnancy care! The two companies are now wholly-owned subsidiaries of a new company, valued at approximately $300 million at closing, whose shares will begin trading on […]
Changes to the Environmental Treatment of Electric and Electronic Equipment and Batteries Law
Dear clients, We would like to inform you of the recent changes to the Environmental Treatment of Electric and Electronic Equipment and Batteries Law, 2012 (hereinafter: the Law). This update includes important information regarding the recognition of new implementation entities and the implications of these changes for clients who have contracted with the Ecommunity Corporation, […]
The Government Has Approved a Mechanism for Taxation of Greenhouse Gas and Local Pollutants Emissions
Dear clients and friends, 1.We would like to inform you that on January 15, 2024, the government approved the state budget for 2024, based on a proposal that includes a range of issues in all areas (hereinafter: the Government Decision). As part of the Government Decision, a proposal was approved for pricing local pollutants and […]
The Directive for Fund Managers and Large Licensees regarding the Integration of ESG Considerations into Investment Decision-Making or Risk Management Processes
Dear clients and friends, Further to the client update we issued on July 5, 2022, the Israel Securities Authority (hereinafter: the ISA) published on December 19, 2022, the final version of the directive for fund managers and large licensees regarding the integration of environmental, social, and governance (hereinafter: ESG) considerations into investment decision-making or risk […]
Recent Developments Regarding Israel’s Adaptation to Climate Change
Dear clients and friends, Earlier this year, we issued a general client update regarding Israel’s adaptation to climate change, which focused on two documents published in December 2023 concerning Israel’s climate change preparedness: the Ministry of Environmental Protection’s Ministerial Climate Change Adaptation Plan and the National Climate Directorate’s Report No. 2 on Adaptation to Sea […]
Israel’s Adaptation to Climate Change
Dear clients and friends, We would like to inform you that in recent days, a Ministerial Climate Change Adaptation Plan (dated December 31, 2023) was published by the Ministry of Environmental Protection (hereinafter: the Ministerial Adaptation Plan, the Ministry), and Report No. 2 on Adaptation to Sea Level Rise (hereinafter: the Report on Adaptation to […]
Israel’s Conservative Stance on Gambling: Legal Framework, Exceptions, and Emerging Trends
Herzog Partner Liran Barak, head of our Gaming Regulation practice, recently published an overview of Israel’s gaming and gambling regime in Beaumont Capital Markets’ authoritative International Gaming Laws and Regulations Review, 2024/5. Read below for important guidelines to anyone in the industry looking to act in Israel. Introduction Israel’s approach towards gambling activity has always […]
Founders’ Equity: Key Considerations for Israeli-Related Tech Startups
Founders’ Equity: Key Considerations for Israeli-Related Tech Startups In the dynamic ecosystem of Israeli tech startups, equity arrangements for founders are a cornerstone of the company’s long-term success. Whether your company is structured with a parent entity in Delaware or Israel, understanding the nuances of founders’ equity is crucial, especially when some or all the […]
Israeli Court Ruling Offers Insights on IP Valuation Principles for Tax Purposes
Dear Clients, Colleagues, and Friends, New Court Decision Addresses Certain Tax Aspects Related to the Valuation of IP The Tel Aviv District Court recently issued a ruling on a tax appeal filed by Western Digital Israel Ltd. (the “Taxpayer“). The case concerns a notice of deficiency issued by the Israel Tax Authority (the […]
Breaking Down the Latest Sweepstake and Social Casino Lawsuits and Enforcement in the United States and Australia
We previously reported on a growing litigation trend in the United States, as social gaming casinos and sweepstakes operators have been facing increasing legal scrutiny in the United States. In this update, we further outline the recent key developments in the field. The claims against operators stem from the offering either social casino operations, or […]
