rewrite this title and make it good for SEOArieli Group submits offer to acquire Spacecom

Arieli Group has submitted an offer to acquire Spacecom (Space Communication) (TASE: SCC). Arieli Group, owned by Eric Bentov and Evan Renov, is offering to inject $18 million into Spacecom’s coffers in exchange for 82% of the company’s shares, while the remaining balance of shares (18% will be allocated to bondholders). The company is also offering full repayment of the remaining debt to all bond series holders (Series 16, 17 and 18 according to the par value), and the issue of convertible bonds totaling $65 million, which represents 15% of the par value of Series 16 and 18 and 30% of Series 18. In fact, Arieli is offering full repayment of three bond series for a par value of $367.5 million, with most of it in cash and the balance in convertible bonds.

According to Arieli Group’s offer, the inherent upside is reflected in the fact that it will allocate 18% of the company’s capital to the bondholders (pro-rata between the series), and in the fact that the convertible bond element grants ownership of 30% of the fully diluted share capital (based on a value of $150 million, before money, during the bond term).

Compared with other offers on the table for Spacecom bondholders, Arieli Group’s says its offer maximizes value for bondholders and effectively grants them over 100% of the par value (the adjusted value of the bond, including interest as of June 30, 2025, excluding interest on arrears, based on the US$/NIS exchange rate as of May 8, 2025 and indexed according to the terms of the bond series. With the lion’s share in cash. The new convertible bonds that will be issued, if and when, will be for a period of 3 years (in one outstanding payment) and will bear a fixed annual interest of 7% linked to the dollar, to be paid once every six months.

Arieli Group’s acquisition offer for Spacecom is led by Arieli Group cofounder and managing director Eric Bentov, a serial entrepreneur in the US who has led investments in several technology companies and innovation platforms. Bentov has decades of experience in founding technology centers, innovation centers and academic technology transfer companies. Bentov is a member of the boards of directors of Elron Ventures, RDC – the development arm of Rafael Advanced Defense Systems and some of the group’s portfolio companies.

Bentov said, “We at Arieli believe in our abilities to develop the company with a unique and innovative strategy and think that it will take the company to new heights and bring higher value for bondholders. Our offer brings the highest value of all the offers submitted to the bondholders, providing them with over 100% of the par value.”

Arieli Group was founded a decade ago by Eric Bentov and Evan Renov on the basis of business collaborations and previous philanthropic activity. Additional partners in the group are Elron Ventures chairman Lisya Bahar-Manoah and Or Habib, leader of its innovation arm. The group’s investment portfolio is diverse and includes cybersecurity, deep-tech, defense, energy, fintech and healthcare companies, and includes early-stage investments alongside growth-stage investments. Among its most notable investments, as mentioned, is Israel’s oldest venture capital fund, Elron Ventures, which brings together 26 cybersecurity and medical device companies.

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Arieli Group leverages the existing resources at its disposal, optimizing existing assets, and has made two exits from Elron since the September 2024 acquisition: Elron’s shares in IronScales were sold for $12.3 million, generating a 23-fold return on investment, and Sixgill was sold for $115 million.

Arieli Group has accumulated experience in global markets, including activity on Wall Street, control of an investment bank with regulatory licenses in New York, fund-to-fund investments, and leading financial rounds. In addition, the group has strategic joint ventures with the Hebrew University of Jerusalem, Bar-Ilan University, Shaare Zedek Medical Center, and other universities in the US.

Published by Globes, Israel business news – en.globes.co.il – on June 18, 2025.

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