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More than 1.5 million shares of NUR Macroprinters transferred to Kanir
By Lisa Kerner
Charlotte, N.C., March 11 - NUR Macroprinters Ltd. investor Kanir LP increased its stake in the company with the addition of 1,533,711 shares, including warrants to purchase 403,846 ordinary shares.
The shares were transferred under the Raphael-Wittenstein agreement.
Kanir currently holds 13,389,148 ordinary shares and warrants to purchase 10,483,424 ordinary shares, or some 28.7% of NUR's outstanding shares, according to a schedule 13D filing with the Securities and Exchange Commission.
On Feb. 27, Kanir had a 27% stake in NUR.
It was previously reported that 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.
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 67.2% of NUR.
On March 3, Hewlett-Packard Co. completed its $118.4 million acquisition of NUR's business in a deal first announced in December.
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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