Kanir increases ownership of NUR in concert with Fortissimo

By Lisa Kerner

Charlotte, N.C., Feb. 27 - NUR Macroprinters Ltd. investor Kanir LP increased its ownership interest in the company by 7,338,860 ordinary shares, including warrants to purchase 3,651,006 ordinary shares.

Kanir currently holds a total of 12,259,283 ordinary shares and warrants to purchase 10,079,578 ordinary shares, or some 27% of the company's outstanding ordinary shares.

The ownership interest was reported in a schedule 13D filing with the Securities and Exchange Commission.

Kanir had entered into two share purchase agreements with Meitav Investment Management Ltd. and Meitav Underwriting Ltd. to purchase 1,584,861 ordinary shares of the company's stock for $0.75 per share.

Kanir affiliate Menahem Raphael signed a securities purchase agreement with Myles Wittenstein and certain related persons to purchase 1,129,865 ordinary shares and warrants to purchase 403,846 ordinary shares.

The purchase price for the ordinary shares is $0.75 per share, and the purchase price for each warrant is $0.75 per share less the exercise price of that warrant, the filing stated.

In December, Hewlett-Packard Co. agreed to acquire substantially all of NUR's assets for $117.5 million in cash.

It was previously reported that Fortissimo Capital acquired control of NUR two years ago and restructured the company's debt and implemented a new growth strategy.

Kanir is a member of a group with Fortissimo, according to the schedule 13D. Together, Kanir and Fortissimo beneficially own approximately 66% of NUR.

NUR, based in Lod, Israel, develops and manufactures wide-format inkjet printers for the printing industry.

Hewlett-Packard is a Palo Alto, Calif., computer, printing and imaging technology company.

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