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Top Image to repurchase all its outstanding series A convertibles
By Melissa Kory
Cleveland, July 18 - Top Image Systems, Ltd. announced that it published a tender to repurchase all of its outstanding series A convertible debentures issued on Dec. 18, 2006.
The company is offering NIS 0.93 for every NIS 1 par value. The offer is valid until Aug. 1.
The convertibles are currently traded on the Tel Aviv Stock Exchange for the price of NIS 0.94 for every NIS 1 par value and during the last three months were traded at an average price of NIS 0.91 for every NIS 1 par value, according to a company news release.
Top Image is a Tel Aviv-based producer of content management software.
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