June Edition 2021

42 Part of the increase in deal value can be attributed to the recent abundance of US SPACs who have been exploring markets outside of the US for their targets and Israel appears to be a prime market for them with its tech and healthcare/pharmaceutical hubs. Given the SPAC vehicle, there are more and more Israeli companies going public, with SPAC transactions continuing to provide an alternative to the IPO route for a wide range of companies. There have been multiple companies, across many sectors, raising money on the capital markets this year. Just this month, Israeli code-free digital adoption platform (DAP) WalkMe filed for a NASDAQ IPO, at a USD USD2.5 billion valuation, while June also saw Israeli work operating system company monday.com complete its pricing of its IPO, valuing the company at USD 6.8 billion, making it one of the largest ever offerings by an Israeli company on Wall Street. These IPOs already follow that of Playtika, Zim, Similarweb and Global-E since the start of 2021. More flotations by Israeli companies are expected in the coming months with Kaltura and SentinelOne all having filed prospectuses with the US SEC. In addition to traditional IPOs and follow-on offerings, registered direct offerings, PIPES and equity lines of credit also continue to provide funding to Israeli companies in the life sciences, biotechnology and other industries. The energy sector has been one that has been especially vibrant. While businesses traditionally relied on banks and financial institutions, nowadays they are raising capital from the public, thus most of the large renewable energy companies are public companies. Thus, there has been a domestic trend of renewable energy companies raising funds through the Tel Aviv Stock Exchange, with a range of companies focused on renewable energy, especially solar, PV and wind, such as Energix Group, Dorel Energy Group, Enlight Energy and Meshek Energy, all traded on the Tel Aviv Stock Exchange. Capital Markets uptick