You have indicated that you are a potential investor who do not comply with the definitions of the First Schedule of the Israeli Securities Law 5728 (1968) (the "Securities Law”)
The Securities Law) regulates the offer of securities to the public in Israel and provides that “A person shall not offer securities to the public other than under a prospectus, the publication of which has been permitted by the Securities Authority.” While the law does not specifically define a public offering, it does provide guidance as to what does not constitute a public offering, from which the necessary deduction can be made.

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