Ability

Company Overview

Snapshot

Founded in January 1994 by Anatoly Hurgin and Alexander Aurovsky, Ability operates with 1-10 employees. The company has raised $13.6 million across two funding rounds. In August 2023, Ability ceased to operate, leading to its delisting from the Tel Aviv Stock Exchange.

Business overview

Ability provides advanced interception, geolocation, and cyber intelligence tools for security and intelligence agencies, military forces, law enforcement, and homeland security agencies globally. Its core offerings include lawful interception, decryption, cyber, and geolocation solutions for cellular and satellite communication, such as ULIN, a SaaS strategic interception system. The company's scalable solutions can be tactical, portable, or strategic and fixed, serving governments and government agencies in over 50 countries within the Aerospace, Defense & HLS sector.

Strategic signal

In August 2023, Ability ceased operations, resulting in its delisting from the Tel Aviv Stock Exchange. This event signals a complete cessation of business activities and a significant negative inflection point for the company, indicating its exit from the market.

Company Intelligence Q&A

What was the most recent significant event for Ability?

In August 2023, Ability ceased to operate, leading to its delisting from the Tel Aviv Stock Exchange.

When did Ability regain compliance with Nasdaq's minimum shareholders' equity requirement?

In December 2018, Ability Inc. regained compliance with the Nasdaq minimum shareholders' equity requirement, closing previously announced delisting proceedings. This was achieved by raising approximately $8.8 million through a registered offering.

What was the outcome of Ability's Nasdaq offering in November 2018?

In November 2018, Ability raised $10 million through a private placement. However, the company's share price subsequently plunged by 46% on Nasdaq and 30% on the Tel Aviv Stock Exchange. Concurrently, Ability announced the acquisition of full ownership of ULIN technology, which was expected to enable the company to recognize all revenue from ULIN.

What was the context of Ability's attempt to raise capital in July 2018?

In July 2018, Ability Inc. sought to raise up to $50 million in a shelf offering after receiving a delisting determination from Nasdaq due to its failure to maintain a minimum of $2,500,000 in shareholders' equity. The company requested a hearing to avoid delisting.

When did Ability list on Nasdaq and what was the valuation?

In December 2015, Israeli technology company Ability completed a reverse merger with Nasdaq blank check company Cambridge Capital Acquisition Corporation, valuing Ability at $250 million. This deal included a $60 million financing round and was expected to lead to a dual listing on the Tel Aviv Stock Exchange.