53 million NIS was raised in the Meitav Trade IPO
The first IPO of 2024 (and one of the few IPOs in the past year) was completed! Our corporate and Securities team represented Meitav Trade (a member of Meitav Group) in the initial public offering of its shares. A total of 53 million NIS was raised in the offering, reflecting a company value of approx. […]
New Amendment to the Import and Export Ordinance
Dear clients and colleagues, On January 17, 2024, an amendment to the Import and Export Ordinance [New Version], 5739-1979 (the “Ordinance“), was published in the official records (the “Amendment“). The Amendment incorporates various changes and reliefs, with the majority coming into effect on July 1, 2024 (which may be deferred by up to three […]
European Data Protection Regulatory Board Issues Investigative Report on the Role of Data Protection Officers
The European Data Protection Board (EDPB) has issued a comprehensive report which focuses on the designation and position of Data Protection Officers (DPOs). The report is the result of an EU-wide coordinated investigation and lists the obstacles currently faced by DPOs, along with a series of recommendations to further strengthen their role, such as mandatory […]
New Jersey is the 13th US State to Adopt Comprehensive Privacy Legislation
On 16 January 2024 the Governor of New Jersey signed into law the state’s Data Privacy Act (the “Act“), marking its entry as the 13th state in the US to enact a comprehensive legislation safeguarding consumer personal information. The new Act will enter into force one year after its enactment – on 16 January 2025. […]
An update to the Conditions of a General Permit under Section 49A to the Securities Law
Dear clients, We would like to inform you that the Israel Securities Authority (the “ISA”) has updated the conditions for obtaining a “General Permit” under section 49A of the Securities Law, 1968 (the “Updated Conditions” and the “Securities Law”, respectively). By way of background, according to Section 49A of the Securities Law, the […]
New Opportunity for Global Fund Managers and Investors – the SEC Has Approved the Launch of Bitcoin Exchange-Traded Funds
Dear Clients, We are pleased to inform you that on January 11, 2024, the US Securities and Exchange Commission (“SEC”) granted approval for the launch of 11 new Bitcoin Exchange-Traded Funds (ETFs). This regulatory green light allows investors to gain exposure to Bitcoin through ETFs traded on US stock exchanges, offering a convenient and […]
Ben Wahlhaus at the International Court of Justice (the ICJ)
Congratulations to Ben Wahlhaus, from our Corporate and Securities Department, who is a member of the team defending Israel at the International Court of Justice (the ICJ), and who was part of the delegation in The Hague last week! Since October 7, Ben has been on reserve duty in the IDF’s International Law Department, where he […]
Congratulations to Delinea on the acquisition of Authomize
Congratulations to our client, Delinea, Inc., a leading provider of privileged access management, on completing the acquisition of the Israeli start-up Authomize Ltd. Authomize developed a cloud identity and access security platform that detects and eliminates identity-based threats throughout the cloud. The Herzog team, led by Michal Herzfeld, includes Yahya Qaq; Dr. Yuval Navot, Ronen Avner, Efrat Kesler Kadmon, and Niran […]
Can we finally see signs of optimism?
Yair Geva, head of our high-tech department, has recently wrote an article discussing the excellent start that the Israeli high-tech sector has had in 2024, despite the economic difficulties that the country is experiencing. What makes 2024 an attractive year for high-tech firms? What is the significance of the interest rate reduction announced by the […]
Proud to have represented the lenders in the approximately NIS 6bn financing of the Green Line of the Tel Aviv Light Rail
We are proud to have represented a consortium of lenders led by Bank Hapoalim, Bank Mizrahi Tefahot and the European Investment Bank in connection with the NIS 6 billion financing to be provided to TMT TLV Metropolitan Tramway Ltd., for the development, construction and maintenance of the Tel Aviv Green Line Light Rail Project. The […]
UserWay is acquired by Level Access for $98 million
We are proud to represent KKR in its acquisition of UserWay, an Israeli public company, for a deal value of approximately $98 million. UserWay is a pioneer in the field of AI-based digital accessibility. This milestone transaction shows that global private equity funds are continuing to invest in Israeli companies, which is an indication of […]
How will the Hamas terrorists’ October 7 trials be conducted
“The state of Israel has never before dealt with crimes and an investigation on this scale”, said Dr. Roy Schondorf, former deputy to the attorney general. “This will be one of the most important trials to take place in Israel.” How will the Hamas terrorists’ October 7 trials be conducted? Dr. Roy Schondorf, our partner in […]
Spera is acquired by Okta
Congratulations Dor Fledel & Ariel Kadyshevitch on the sale of Spera to Okta! Kudos to the amazing team at Herzog Tech who accompanied Spera from formation to exit: Yair Geva, Miri Wang, Adam Salkin, Uri Barak and Tzipi Zipper.
Herzog delivers, no matter what
In Israel, resilience isn’t just a slogan. It’s the enduring spirit that has made Israeli tech what it is today. Yes, there is an ongoing conflict and, for sure, there is trauma. But even with that, we are already adapting to a “new normal”, and business continues to operate. We are strong and resilient and committed […]
Recognition of the State of Israel as a country with adequacy status in the field of privacy protection
Dear clients and colleagues, On January 15, 2024, the European Union Commission approved the recognition of the State of Israel as a country with adequacy status in the field of privacy protection. The State of Israel was recognized by the European Union Commission as a country with adequacy status back in 2011. However, […]
What lawful steps can Israel take in the context of the war against Hamas in Gaza?
Why should Israel adhere to the laws of war? What lawful steps can Israel take in the context of the war against Hamas in Gaza? Listen to the latest episode of KAN (HE) – Israeli Public Broadcasting Corporation podcast “Another Day” featuring Dr. Roy Schondorf, former Deputy Attorney General (International Law) and currently head of Herzog’s […]
Congratulations ARROW! The rebel alliance hit again with a $35 million Series B round led by Georgian, F2, Entree and NFX
Congratulations to Evyatar Ben Artzi, Gila Hayat and Tamar Sacerdoti at Darrow AI for completing this impressive Series B funding and securing a $35 million investment, led by Georgian with participation of existing investors F2 Venture Capital, Entrée Capital and NFX! Darrow is developing an AI platform for detecting legal violations and we are super proud to take a part on this amazing journey to conquer and revolutionize the […]
NVIDIA Invests in AI21 Labs
We are honored to represent once again NVIDIA in its investment in AI21 Labs. “Generative AI is driving a new era of computing across every industry. The innovative work by the AI21 Labs team will help enterprises accelerate productivity and efficiency with generative AI-based systems that are accurate, trustworthy, and reliable, ”said Jensen Huang, founder and CEO […]
Published: Proposed regulatory instructions regarding equity, insurance, or other collateral security
Dear clients and friends, We would like to bring to your attention that the Israeli Securities Authority published proposed regulatory instructions regulating capital requirements for the activities of payment companies and holders of a basic Initiation license, in accordance with the Regulation of Payment Services and Payment Initiation Law, 2023 (“Regulation of Payment Services Law“) […]
Fintech ThetaRay raised $57 million
Excited to share that ThetaRay, our long term client, completed a US$ 57 million financing round. ThetaRay’s cloud-based transaction monitoring and screening solution uses market-leading proprietary and patented AI technology to monitor financial transactions quickly and accurately. In this uncertain and challenging period – this is an amazing accomplishment by the ThetaRay team! The success of […]
The Israel Innovation Authority (IIA) – New Rules Regarding Transfer of Manufacturing Outside of Israel and the Interest Rate on IIA Funding
The Israel Innovation Authority (IIA) has recently changed the rules that apply to IIA-funded companies regarding transfer of manufacturing outside of Israel and the interest rate on IIA funding. 1.Transfer of Manufacturing Outside of Israel Manufacturing outside of Israel that involves IIA-funded knowhow requires the approval of the IIA and may increase the royalty payments […]
We are happy to introduce our new partners
Our team is looking forward to 2024, and we are confident that our new partners, the majority of whom are Herzog alumni, will contribute to the success and continued leadership of the company. We congratulate you all!
83(B) Election Update
What is an 83(b) Election? The 83(b) election is a provision under the Internal Revenue Code (IRC) Section 83(b). It allows individuals receiving restricted stock to pay taxes on the total fair market value (FMV) of the award at the time of issuance, rather than at the time of vesting. This election is particularly relevant […]
The Corporate Transparency Act: Key Insights for Global Compliance
Introduction The Corporate Transparency Act (CTA), effective January 1, 2024, represents a major U.S. initiative to combat financial crimes and enhance corporate transparency. Administered by the Financial Crimes Enforcement Network (FinCEN), the CTA aims to prevent illicit activities by making it harder for bad actors to use shell companies for illegal gains. Who Is […]
Recent Developments in IP Case Law on Generative AI
The rise of generative AI technology has sparked a burgeoning debate in legal and technological spheres focusing on the attribution of intellectual property rights – inventorship of patents, authorship of copyrightable works – to AI systems. While lawmakers are moving slowly, the judicial systems are already handling this challenge. Patents UK Amidst this ongoing discourse, […]
AI Technologies Event
Unraveling the Buzz, navigating regulations and reshaping investment trends. We are proud to invite you to open the new 2024 year with Herzog’s AI Technologies Event, which we will host on January 15, 2024 in our conference center at Herzog Tower. If you want to hear more about the next wave of AI innovations for […]
FTC Enforces Against Rite Aid for its Use of Facial Recognition AI and for its Information Security Practices
On 19 December 2023, the Federal Trade Commission (“FTC”) has filed a complaint against the drug store chain Rite Aid, among others, for its use of facial recognition artificial intelligence (AI) technology allegedly in violation of the FTC Act. The FTC also attached to its complaint a proposed order, under which Rite Aid will be […]
Cohort II Launch Event
Wednesday, Jan 24th | 09:00 am | Herzog Tower, 6 Yitzhak Sadeh St. Tel Aviv Time to kick off Climate First’s second cohort with a bang! On January 24th, Israel’s top climate professionals will gather in one space in Tel Aviv. All our Cohort II participants will have a chance to introduce themselves, their groundbreaking […]
Herzog represented Paz group in the sale of 100% of “Pazkar” for 265 million NIS
Our firm had the pleasure of representing Paz group in a significant transaction, the sale of 100% of “Pazkar”, Paz’s subsidiary, for 265 million NIS. “Pazkar” is a leader in the development and production of waterproofing products for the construction and infrastructure market. It was an honor to work alongside Paz and be a part […]
Liran Barak contributed to the Israeli chapter of Chambers Global Practice Guide – Gaming Law 2023
The Chambers and Partners Gaming Law 2023 guide offers comparative analysis from top-ranked lawyers world-wide. The Israeli chapter provides an overview of the legislative and regulatory framework relating to the gambling industry in Israel, and addresses current trends, key legislation, anti-money laundering legislation and expected developments in the gaming sector in Israel, among other topics. […]
