Alvarion Ltd. (NasdaqCM:ALVR) announced a private placement of common shares with Israeli investors for gross proceeds of up to $3,000,000 on May 28, 2013. The company will issue the shares at a discount of up to 10% of the stock value.

On May 29, 2013, the company announced that it has executed final agreements for the transaction. The company will receive net proceeds of $2,900,000 in the transaction. The company will issue common shares and warrants in the transaction. The investors will acquire 18.5% stake in the company through this transaction. The transaction is expected to close within 10 days of the agreement.