Metalink to Raise $19.2M

YAKUM, Israel -- Metalink Ltd. (NASDAQ: MTLK), a global provider and developer of high-performance wireless and wireline broadband communication silicon solutions, today announced that it has entered into definitive agreements with institutional investors for a $19.2 million private placement of its ordinary shares and warrants to purchase its ordinary shares.

Pursuant to the purchase agreements signed today, the Company will sell 3,200,000 ordinary shares at $6.0 per share. The investors will also receive five-year warrants to purchase 800,000 ordinary shares at an exercise price of $8.0 per share, subject to adjustments. Metalink is entitled to force the exercise of the warrants in the event the market price for its ordinary shares exceeds $12.0 per share for 20 out of 30 consecutive trading days.Closing of the transaction is subject to certain customary closing conditions and is anticipated within three business days.

Metalink Ltd. (Nasdaq: MTLK)