InterCure Secures NIS 22 Million In Private Placement Financing
(RTTNews) - InterCure Ltd. (INCR) which operates as Canndoc, has secured NIS 22 million (approximately US$7.4 million) in new funding through a private placement as the company works to support its recovery efforts, expand production capacity, and pursue growth opportunities in Israel, Germany, and other regulated medical cannabis markets.
The financing includes investment commitments from key shareholders, including CEO Alexander Rabinovich, along with leading pharma-focused hedge funds such as Bennu Pharma Fund Ltd., managed by Ori Hershkovitz. The total funding may increase to as much as NIS 54 million (approximately US$18.6 million) if all warrants issued in the placement are fully exercised.
Under the terms of the private placement, InterCure will issue 7,895,143 ordinary shares at NIS 2.75 (approximately US$0.94), representing a premium to the NIS 2.69 closing price on the Tel Aviv Stock Exchange as of June 17, 2026. Investors will also receive warrants to purchase an additional 7,895,143 shares at an exercise price of NIS 4.125 per share (approximately US$1.41), a 53% premium to the same reference price. The warrants will be exercisable for five years.
The company noted that the placement remains subject to definitive documentation and certain closing conditions, including shareholder approval for Rabinovich's participation. All securities issued will be subject to applicable transfer restrictions.
Rabinovich said the financing marks an important step in InterCure's recovery and growth strategy, highlighting the confidence shown by existing shareholders and institutional investors. He added that the proceeds will support the expansion of the company's Nir Oz facility, meet rising demand in Israel and international markets, and accelerate global expansion efforts, particularly in Germany and other regulated medical cannabis regions.
InterCure also noted that expected compensation for war-related damages, combined with the new financing, is intended to strengthen its balance sheet and support a return to sustainable growth and profitability.
The company reiterated that the securities have not been registered under the U.S. Securities Act and may not be sold in the United States without proper registration or exemption.
INCR has traded between $0.68 and $1.77 over the past year. The stock closed Monday's trading at $1.09, up 17.37%. During after-hours trading, the stock is at $1.00, down 8.26%.
