PETACH TIKVA, Israel--(BUSINESS WIRE)--Can-Fite BioPharma (TASE:CFBI), A major breakthrough for Can-Fite, a biotechnology company traded on the Tel-Aviv Stock Exchange -- successfully completed a private placement to institutional investors of 32 million shares and 12.8 million options in an aggregate volume of some NIS 40 million. Can-Fite completed the capital raising round in a single day; and in view of over-subscription recorded during the issuance, resolved on a 19% increase in volume as compared with the original plan, whereby the Company proposed to raise some NIS 34 million. As a result of the private placement, Can-Fite almost doubled its shareholders’ equity, which amounted at the end of 2006 to some NIS 38 million. It will be noted that the issued securities will be registered for trading once the approval of the Tel-Aviv Stock Exchange is received; and the Company will take steps to unblock the shares over the next few months.
