Israel Acquisitions Corp. Amends Deal Terms with Gadfin; BTIG Waives Deferred Commission for Advisory Fee
Israel Acquisitions Corp. and Gadfin Ltd. have updated the terms of their previously announced business combination. Under a new agreement, Gadfin has consented to Israel Acquisitions Corp. entering into an advisory arrangement with BTIG, LLC, which will provide strategic and capital markets advisory services for the transaction. BTIG will receive a $500,000 cash fee and 100,000 shares of Israel Acquisitions Corp. immediately prior to closing, in exchange for waiving its right to a previously agreed deferred underwriting commission. Additionally, the sponsor of Israel Acquisitions Corp. will forfeit a number of shares equivalent to those issued to BTIG. The update also requires Gadfin Regev Holdings Ltd. to arrange a securities insurance policy to cover potential indemnification claims from BTIG prior to closing.
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