Connect with us

Hi, what are you looking for?

Jewish Business News

World News

Israeli On Track Innovations’ Deal for a Slice of the Apple

IPhone 6 images

On Track Innovation, which trades on the Nasdaq with the symbol OTIV, saw its stock rise 12.7%, breaking its 52-week high, on news of a deal with payment card manufacturer ABNote that includes a launch of a “major NFC mobile electronic payment trial with one of the largest institutions in North America, ” as reported by Seekingalpha. The technology combines OTIV’s Wave NFC Dongle and ABNote’s mobile wallet and security service. The result should be a solution that will allow it to work with Apple pay.

The Israel-based provider of near-field communication and cashless payment solutions has also  filed a shelf-registration with the Securities and Exchange Commission, as reported by Marketwired. This will allow OTIV to issue ordinary shares and warrants for an amount up to $50 million. CEO Ofer Tziperman said, “It will also allow us to act quickly in case of a requirement for working capital or to pursue our near and long-term strategic objectives.” Once the shelf registration statement becomes effective, oti can sell securities through several methods of distribution.

1 Comment

1 Comment

  1. OTIVINVESTOR

    October 7, 2014 at 6:56 pm

    OTIV is burning cash. That’s the story you should be writing!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newsletter

Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

empty

The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Advertisement
cialis cialis satış