Tower expands equity placement, raises $11M

November 27, 2006 – Tower Semiconductor Ltd. says it has expanded its previously announcd equity private placement of $10.3 million, and raised an additional $11 million in immediate gros proceeds from Israeli investors.

The company says it sold a total of 5.8 million shares and 2.32 million warrants for shares in this private placement, including overallotments. The orders represent <3% of Tower's total shares outstanding.


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