Hadasit Bio-Holdings

Press Releases

Enlivex- Completion Of Convertible Loan Recruitment

May. 18, 2014


HLB – Hadasit Bio-Holdings Ltd. (“the Company”)

May 18, 2014

To:                                                                                          To:

The Securities and Exchange Commission            The Tel Aviv Stock Exchange Ltd.

22 Kanfei Nesharim St.                                                  54 Ahad Ha’am St.

Jerusalem 95464                                                              Tel Aviv 65202

By Full Disclosure Electronic System                       By Full Disclosure Electronic System


Re: Immediate Report – Completion of Convertible Loan Recruitment for Enlivex Therapeutics Ltd. Company (hereinafter, “Enlivex”)

Further to the Company’s reports on December 16, 2013, February 17, 2014, March 30, 2014 and April 28, 2014 (references: 2013-01-097783, 2014-01-040588, 2014-01-028275, 2014-01-051435), regarding signing an agreement in principle to provide funding for Enlivex Company, the Company’s subsidiary(92%), the Company is hereby announcing that Enlivex has completed the recruitment of the convertible loan from an investor group in the amount of $7,051,000 (hereinafter, “the deal” and “the investor group”).

Upon completion of the deal, the Company will hold 25.8% of Enlivex’ allocated share capital. Likewise, if the convertible loan in the amount of $7,051,000 will be converted in accordance to the conditions of the financing agreement, according to the conversion value (before the money), the Company’s holdings in Enlivex will be diluted to %19.41 on a fully diluted basis.

Likewise, upon the completion of the deal: (1) the convertible loans that the Company has made to Enlivex throughout the years, cumulatively, together with the interest that accrued on their behalf, in the amount of NIS 16,500,000, will be converted to ordinary shares of Enlivex according to the loans’ conditions, so that subject to the completion of the deal, the loans will be converted to 7,079,722 ordinary shares of Enlivex; (2) the convertible loan that the investor group made on 2/12/14 will be converted to 45,899,667 ordinary shares of Enlivex


                                                                                               HBL – Hadasit Bio-Holdings Ltd.

                                                                                                                (Signed by Ms. Tamar Kfir, the Company’s  CEO)


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