InterCure secures NIS 22M private placement led by pharma-focused funds
What's the deal? Israeli medical cannabis firm InterCure has secured a binding term sheet for NIS 22 million (about $7.4 million) in a private placement.
The round is led by Bennu Pharma Fund and includes investment from chief executive officer Alexander Rabinovich. Investors will receive roughly 7.9 million shares at NIS 2.75 each, a premium over the June 17 closing price.
The funding could climb to NIS 54 million (about $18.6 million) if attached warrants, priced at a 53% premium, are fully exercised.
Why now? InterCure is chasing growing demand in Germany and fresh opportunities from the recent US federal rescheduling of cannabis.
The capital will help rebuild and expand its Nir Oz facility, which was damaged during the war, and meet demand across Israel and abroad.
What could go wrong? The deal still needs definitive documentation and must clear closing conditions. Rabinovich's investment also requires shareholder approval.
The warrants only boost proceeds if investors choose to exercise them, so the larger NIS 54 million figure is far from guaranteed.
The signal: InterCure is a vertically integrated, GMP-certified producer running a seed-to-sale model, which positions it to capture institutional demand as medical cannabis matures into a regulated market. With pharma-focused funds backing the round and warrants priced at a 53% premium, the investors are signalling confidence that Germany's loosening rules and US rescheduling will lift the company's trajectory.
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