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.

In the week ending May 31, 2013, Alvarion Ltd. closed the transaction. The transaction included participation from new investors, Titan Investments and Yorkville Advisors, LLC. Yorkville Advisors, LLC invested $1,000,000 in the transaction and Titan Investments along with a group of private investors invested the remaining $2,000,000.