Bar-Ilan University’s textile developer Sonovia has completed an $18.5m initial public offering on the Tel Aviv Stock Exchange.
Sonovia, an Israel-based developer of fabrics based on research at Bar-Ilan University, has completed a NIS55.9m ($18.5m) initial public offering on the Tel Aviv Stock Exchange, the Jerusalem Post reported today.
The company raised an additional $3.7m through a concurrent private placement. The offering pushed Sonovia’s valuation to $43.4m, up from $29m.
Sonovia manufactures textiles and chemical solvents. Its SonoMask is a face mask that can neutralise the novel coronavirus at an effectiveness of more than 99.3% by…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
