Teddy Sagi's Kape raises $220m for acquisitions

Published date15 September 2022
Publication titleGlobes (Rishon LeZion, Israel)
Among the participants were Israeli financial institutions Clal Insurance, The Phoenix Holdings, More Investment House, and Noked Capital. The offering was led by Barak Capital Underwriting. The offering was priced at £2.65 per share, which compares with a price of £2.71-2.75 in the sessions preceding it. So far this year, Kape's share price has fallen by 39.6%

Kape says that the proceeds will be used for acquisitions to accelerate the company's growth, "the Board of Kape believing that global market conditions have given rise to a number of highly attractive potential acquisition opportunities at compelling valuations." Last year, Kape paid $936 million to acquire US company ExpressVPN.

In the first half of 2022, Kape had revenue of $302 million and adjusted EBITDA of $88.9 million. For 2022 as a whole, Kape expects revenue in the range...

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