Cardiacsense Ltd. announced that it has entered into a memorandum of understanding for the private placement of common shares for gross proceeds of $1 million on March 23, 2017. The transaction will include participation from two investors, including Merchavia Holdings and Investments Ltd to acquire 7% stake in the company. The transaction is subject to completion of a due diligence process, the signing of a definitive agreement, and several approvals. The investors will invest $0.5 million each in the transaction. The transaction is expected to close within six weeks. The transaction has been approved by the board of directors of Merchavia Holdings and Investments Ltd.