LONDON (20 December 2005) — The law firm of McDermott Will & Emery UK LLP advised C.E. Unterberg, Towbin, LLC, as the exclusive U.S. placing agent in connection with Orpak Systems Ltd’s private placement in the United States which simultaneously floated on AIM.
The combined UK and U.S. placing consisted of 10.4 million ordinary shares at 140p per share, raising approximately £14.7 million. Of this, 6,.2 million new shares were being placed which raised approximately £8.7 million. On admission to AIM, Orpak had a market capitalization of approximately £46.5 million.
Orpak is incorporated in Israel and is an established, international business supplying fuel management systems primarily to fuel stations and fleet managers in Europe, the Americas and Asia.
The McDermott team included corporate partners Nick Azis and U.S. securities partner Rick Mitchell.