Translagae Israel Ltd. announced that it signed a convertible loan agreement with new investor Gan Shmuel Foods Ltd. for gross proceeds of $10 million on May 4, 2016. The loan has rate of interest of 3% per annum for three years. The loan is convertible into class A Preferred Shares granting investor 16% stake in the company. If the conversion does not take place, then the loan will be paid back in 40 quarterly installments. The investor has the option to grant additional convertible loan for $2 million at same terms to the company.