MODSYS INTERNATIONAL LTD. (NASDAQ:MDSY) Files An 8-K Unregistered Sales of Equity Securities
Item3.02. Unregistered Sale of Equity Securities.
The disclosures under Item 1.01 Entry into a Material Definitive
Agreement and Item 3.02 Unregistered Sale of Equity Securities of
the Form 8-K (the Prior 8-K) filed by ModSys International Ltd.
(the Company) on February 21, 2017 are incorporated herein by
reference. The Company completed the sale and issuance of 757,575
ordinary shares on April 3, 2017 to the Share Purchase Agreement
(the Purchase Agreement) with Columbia Pacific Opportunity Fund,
LP (Columbia).
In addition, on April 4, 2017 Columbia elected to exercise
warrants previously issued to purchase 1,091,442 ordinary shares
with an exercise price of $0.01 per share.
The securities described above will not be or have not been
registered under the Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration
or an applicable exemption from registration requirements.
About MODSYS INTERNATIONAL LTD. (NASDAQ:MDSY)
ModSys International Ltd., formerly BluePhoenix Solutions Ltd., develops and markets enterprise legacy migration solutions, and provides tools and professional services to international markets. The Company operates through information technology (IT) modernization solutions segment. The Company’s technologies and services allow businesses to migrate from their legacy mainframe and distributed IT infrastructures to modern environments and programming languages. In addition to the technology tools, the Company provides professional services for project management of migrations, understanding and mapping of the applications, testing, remediation, and ongoing monitoring and management of the environments. The Company performs conversions of legacy databases, such as Integrated Database Management System (IDMS), Adaptable Data Base System (ADABAS), Virtual Storage Access Method (VSAM), Oracle and database 2 (DB2) environments. MODSYS INTERNATIONAL LTD. (NASDAQ:MDSY) Recent Trading Information
MODSYS INTERNATIONAL LTD. (NASDAQ:MDSY) closed its last trading session down -0.028 at 0.820 with 857 shares trading hands.