Terminal X Online’s Initial Public Offering

The Gornitzky & Co. represented UBS AG London Branch, Numis Securities Limited and the Value Base Underwriting and Securities Distribution Ltd. Herzog Fox & Neeman advised TERMINAL X on the offering.

Terminal X Online Ltd. executed an initial public offering, which reflected a valuation of NIS 1.3 billion (pre-money) of Terminal X, was made through a non-uniform offer (book-building) guaranteed by underwriting to institutional investors outside of Israel and Israeli institutional investors, through the issuance of new shares of the company and an offer to sell share by the existing shareholders (XT Investments, a company controlled by Udi Angel and Idan Ofer, and a company owned by Nir Horvitz, CEO of Terminal X). Immediately prior to the IPO, Terminal X allotted about 10% of its shares to Mr. Anders Povlsen, owner of the international e-commerce brand ASUS. The total consideration in the offering, together with the parallel private placement, is approximately NIS 390 million.

Terminal X Online Ltd. is an e-commerce multi-brand fashion and lifestyle platform.

The Gornitzky team was led by partner Uri Heller (Picture), senior associate Nir Knoll, and associates Sharon Strauss, David Fogler, Josh Cohn and Idan Yaron; Partner Assaf Prussak and Associate Lilach Shamir advised on tax matters.

The Herzog Fox & Neeman team was led by partners Nir Dash and Ron Ben-Menachem, associates Yotam Kleiman, Mohammad Mawasi, Nahum Mittelman, Fanny Elgrably and stagaire koral butbika.

Involved fees earner: Josh Cohn – Gornitzky & Co.; David Fogler – Gornitzky & Co.; Uri Heller – Gornitzky & Co.; Nir Knoll – Gornitzky & Co.; Assaf Prussak – Gornitzky & Co.; Lilach Shamir – Gornitzky & Co.; Sharon Strauss – Gornitzky & Co.; Idan Yaron – Gornitzky & Co.; Ron Ben-Menachem – Herzog Fox & Neeman; Nir Dash – Herzog Fox & Neeman; Fanny Elgrably – Herzog Fox & Neeman; Yotam Kleiman – Herzog Fox & Neeman; Mohammad Mawasi – Herzog Fox & Neeman; Nahum Mittelman – Herzog Fox & Neeman;

Law Firms: Gornitzky & Co.; Herzog Fox & Neeman;

Clients: Numis Securities; Terminal X; UBS AG London Branch; Value Base;

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