ARK invests $8m in Israeli cannabis co InterCure
ARK s Israeli ETF bought a 2.4% stake in InterCure, which is worth NIS 775 million.
ARK Exchange Traded Funds (ETF) has invested $8 million in Israeli cannabis company InterCure (TASE: INCR). This is part of ARK s recent spending spree on Israeli companies after setting up an Israeli ETF. InterCure is set to merge with a SPAC (special purpose acquisition company) on the Canadian stock exchange, and ARK now has a 2.4% stake in InterCure worth NIS 775 million. ARK bought the shares at NIS 6.46, similar to today s price.
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InterCure is the only cannabis company in ARK s Israeli ETF and other companies are Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT), ad-tech company Perion Network Inc. (Nasdaq:PERI: TASE:PERI), immunotherapy drug developer Enlivex Therapeutics (Nasdaq: ENLV), computational biology company Evogene Ltd. (TASE:EVGN), stem cell treatment company Gamida Cell Ltd. (Nasdaq: GMDA) and drug developer
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PETAH TIKVA, Feb. 11, 2021 (GLOBE NEWSWIRE) Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announces that Gilat has shipped initial aero modems, out of a multi-million-dollar potential in China. A leading Chinese system integrator, to install Gilat s aero modem, for the Ka-band In-flight Entertainment and Connectivity (IFEC) system, on the entire fleet of the first airline in China and on additional domestic airlines.
IFEC on-board the first aircraft is already operational, providing commercial service with remarkable performance, enabled by Gilat s aero modem, Taurus. The Chinese airline is the first fleet out of a potential of 3,500 commercial aircraft operating in China.