SOURCE: On Track Innovations Ltd.

On Track Innovations Ltd.

November 20, 2014 16:15 ET

On Track Innovations (oti) Announces Proposed Public Offering

ROSH PINA, ISRAEL--(Marketwired - Nov 20, 2014) - On Track Innovations Ltd (oti) (NASDAQ: OTIV) today announced that it intends, subject to market and other conditions, to offer its ordinary shares in an underwritten public offering pursuant to its existing shelf registration statement. The company also intends to grant the underwriter of the offering a 30-day option to purchase additional ordinary shares to cover over-allotments, if any. Northland Capital Markets is acting as sole underwriter for the offering. 

The ordinary shares are being offered pursuant to a registration statement on Form S-3 (File No. 333-199180) promulgated under the Securities Act of 1933, as amended, which was previously filed with, and declared effective by, the SEC.

oti has filed a preliminary prospectus supplement and an accompanying prospectus with the Securities and Exchange Commission (SEC) in connection with the offering. The preliminary prospectus supplement and accompanying prospectus may be obtained by sending a request to Northland Securities, Inc. at 45 South 7th Street, Suite 2000, Minneapolis, MN 55402, via telephone toll free at (800) 851-2920 or via email to gturgeon@northlandcapitalmarkets.com. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus, the registration statement, and the other documents that the company has filed with the SEC for more complete information about the company and this offering. Investors may obtain these documents for free by visiting the SEC's website at www.sec.gov.

Northland Capital Markets is the trade name for certain capital markets and investment banking services of Northland Securities, Inc., member FINRA/SIPC.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About oti

On Track Innovations Ltd. (oti) is a leader in contactless and NFC applications based on its extensive patent and IP portfolio. oti's field-proven innovations have been deployed around the world to address NFC and other cashless payment solutions, petroleum payment and management, cashless parking fee collection systems and mass transit ticketing. oti markets and supports its solutions through a global network of regional offices and alliances. For more information, visit www.otiglobal.com, the content of which is not a part of this press release.

Safe Harbor Statement

This press release contains certain forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Any such statements, including, but not limited to, oti's expectations regarding the completion, timing and size of its proposed public offering, whether expressed or implied, are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated due to a number of factors which include, but are not limited to, risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed offering, and other risk factors discussed in the Company's preliminary prospectus supplement, Annual Report on Form 10-K for the year ended December 31, 2013 and other documents filed with the SEC from time to time. These forward-looking statements represent oti's judgment as of the date of this press release. Except as legally required, oti disclaims any intent or obligation to update these forward-looking statements.

Contact Information

  • Investor Contact:
    Scott Liolios or Matt Glover
    Liolios Group, Inc.
    949-574-3860
    Email Contact

    Press Contact:
    Inbar Ben-Hur
    oti Marketing Communication Manager
    Email Contact