Joining a number of companies listed on the Tel Aviv Stock Exchange that also have recently been listed for trading in the United States through American Depository Receipts (ADRs) is universal flu vaccine developer BiondVax Pharmaceuticals Ltd. The company raised $10 million on Nasdaq at a price of $5.01 per American Depositary Share (ADS). ADRs are an American security that follows the share traded on a foreign stock exchange.
David Gitlin, a shareholder in Greenberg Traurig’s Philadelphia office and a member of the Israel Practice, and Victor Semah, a shareholder in the firm’s Miami office and a member of the Israel Practice, were U.S. counsel to BiondVax, and worked with Pearl Cohen Zedek Latzer Baratz, BiondVax’ s Israel counsel, on the matter.
David co-leads the firm’s Emerging Technology Practice, has extensive experience servicing Israeli clients looking to raise capital in the United States, and is a frequent visitor to the firm’s Tel Aviv office.