Tefron Ltd files resale registration statement on form F-3
07 Oct '05
2 min read
World's leading producers of seamless intimate apparel and active wear, Tefron Ltd announced that it had filed with the United States Securities and Exchange Commission a Registration Statement on Form F-3 relating to the resale by its existing principal shareholders -- Macpell Industries Ltd, Arwol Holdings Ltd, Norfet, Limited Partnership and Leber Partners L.P -- of Tefron shares.
The Registration Statement relates to an aggregate of up to 11,532,259 ordinary shares. The Registration Statement has been filed in accordance with the Registration Rights Agreement, executed in 2004, by and among the Company and such shareholders.
The company also announced that it is currently considering the raising of additional capital by means of a public offering of securities. If an offering is conducted, the proceeds are expected to be used to support expansion of its growing Active Wear and Swim Wear product lines, expanding off-shore capacity and strengthen its balance sheet. No decision has yet been made with respect to any possible public offering of securities, and any public offering will be made only in accordance with applicable law and the publishing of a prospectus.
The Registration Statement relating to the ordinary shares of existing shareholders has not yet become effective. When the Securities and Exchange Commission declares the registration statement effective, the selling shareholders may use the prospectus relating to the Registration Statement from time to time to resell their ordinary shares. Tefron will not receive any proceeds from the sale of ordinary shares by the shareholders.
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