Stark Power Raises NIS 145 Million, Migdal Becomes Substantial Shareholder

Stark Power completed a NIS 145 million capital raise to finance its U.S. energy and data-center infrastructure activity. Migdal will invest about NIS 90 million in shares and options and become a substantial shareholder, while existing shareholders will contribute about NIS 55 million. The transaction brings the company’s total equity raised since becoming public in March to about NIS 665 million. Stark Power recently completed its $50 million purchase of SAGE, whose pipeline includes about 5.55 gigawatts of data-center capacity and 1.55 gigawatts of colocated natural-gas power development.