ELECTRIC FUEL CORP files for common stock offer.
IFN Smart Edgar News - January 25, 2000 16:42
Excerpted from S-3 filed on 01/25 by ELECTRIC FUEL CORP:
ELECTRIC FUEL CORP files for common stock offer.
Subject to Completion, dated January 25, 2000
___________________________
2,850,000 Shares
Electric Fuel Corporation
Common Stock
___________________________
This prospectus relates to the offer and sale of up to
2,850,000 shares of common stock from time to time by certain of
our stockholders listed below.
The common stock is listed on the Nasdaq National Market under
the symbol "EFCX". The last reported sale price for the common
stock on January 21, 2000 as quoted on the Nasdaq National Market
was $11.125 per share.
INVESTING IN THE COMMON STOCK INVOLVES A HIGH DEGREE OF RISK.
CONSIDER CAREFULLY THE "RISK FACTORS" BEGINNING ON PAGE 1.
Neither the Securities and Exchange Commission nor any state
securities commission has approved or disapproved of these
securities or determined if this prospectus is truthful or
complete. Any representation to the contrary is a criminal offense.
___________________________
The date of this prospectus is , 2000
(End of Item Excerpt)
THE COMPANY
We design and develop our proprietary zinc-air technology for a number of
electronic products that have a high demand for energy and power from batteries.
We design and develop applications for our zinc-air technology principally for
portable consumer electronic devices, as well as electric vehicles and defense
and safety applications. To date, we have developed and brought to market
batteries for use in several different models of cell phones and certain defense
and safety applications. We are also participating in a U.S. federally-funded
program in Nevada to demonstrate the ability of our Electric Fuel battery system
to power buses.
Our technology has grown out of an intensive eight-year research and
development program in zinc-air technologies. Through these efforts, we have
sought to position ourselves as a leader in the application of zinc-air
technology to innovative, primary and refuelable battery systems.
(End of Item Excerpt)
USE OF PROCEEDS
All net proceeds from the sale of the shares of common stock offered
hereunder will go to the stockholders who offer and sell them. We will not
receive any of the proceeds from this offering.
SELLING STOCKHOLDERS
The following table sets forth information known to us about the beneficial
ownership of each selling stockholder as of January 15, 2000, as to: (a) the
number of shares of common stock that are beneficially held by each selling
stockholder (giving effect to conversion of all warrants purchased in the
December 1999 offering) prior to the offering; (b) the maximum number of shares
that may be offered by each selling shareholder in this prospectus; and (c) the
number of shares of common stock that will be held by each selling shareholder
if he or she sells all of the shares that can be sold under this prospectus.
Other than Mr. Gross, no selling shareholder will hold over 1% of our
outstanding shares of common stock after this offering (assuming each
shareholder sells all of the shares that can be sold under this prospectus).
We can provide no assurance as to the number of shares that will be held by
each of the selling stockholders after this offering because each of the selling
stockholders may offer all or some part of the shares which he or she holds
pursuant to the offering contemplated by this prospectus, and because this
offering is not underwritten on a firm commitment basis.
(End of Item Excerpt)
(End of Item Excerpt)
SELLING STOCKHOLDERS
The following table sets forth information known to us about the beneficial
ownership of each selling stockholder as of January 15, 2000, as to: (a) the
number of shares of common stock that are beneficially held by each selling
stockholder (giving effect to conversion of all warrants purchased in the
December 1999 offering) prior to the offering; (b) the maximum number of shares
that may be offered by each selling shareholder in this prospectus; and (c) the
number of shares of common stock that will be held by each selling shareholder
if he or she sells all of the shares that can be sold under this prospectus.
Other than Mr. Gross, no selling shareholder will hold over 1% of our
outstanding shares of common stock after this offering (assuming each
shareholder sells all of the shares that can be sold under this prospectus).
We can provide no assurance as to the number of shares that will be held by
each of the selling stockholders after this offering because each of the selling
stockholders may offer all or some part of the shares which he or she holds
pursuant to the offering contemplated by this prospectus, and because this
offering is not underwritten on a firm commitment basis.
SHARES BENEFICIALLY
SHARES BENEFICIALLY OWNED SHARES BEING OWNED
SELLING STOCKHOLDER prior to this offering offered hereby AFTER THIS OFFERING
Gal Erez 480,000 480,000 0
Gadi Regev 180,000 180,000 0
Federman Holdings 300,000 300,000 0
Apax Mutavim 300,000 300,000 0
Leader Holdings and
Investments Ltd. 180,000 180,000 0
Suny Electronics 180,000 180,000 0
Yosef Strogo 90,000 90,000 0
Dvir Katchman 90,000 90,000 0
Joe Nahumi 90,000 90,000 0
Dalia Pkornik 60,000 60,000 0
Shlomo Shefi 30,000 30,000 0
Shuki Hershkovitch 30,000 30,000 0
Uri Akerman 30,000 30,000 0
Moshe Nehoray 30,000 30,000 0
Volter Rozental 30,000 30,000 0
Leon Gross1 4,276,004 750,000 3,526,004
(End of item excerpt.)
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