Gilat Announces Private Placement of US$66 Million to Institutional and Accredited Investors

Core Viewpoint - Gilat Satellite Networks Ltd. has announced a private placement of Ordinary Shares to Israeli institutional and accredited investors, aiming to raise approximately $65 million for general corporate purposes [1][3]. Group 1: Private Placement Details - The company plans to issue 7,058,820 Ordinary Shares at a price of $9.35 per share, reflecting a 6.3% discount to the 7-day Volume Weighted Average Price [2]. - The newly issued shares will account for about 11% of the company's total issued and outstanding Ordinary Shares post-transaction [2]. - The transaction is expected to close in September 2025, subject to customary closing conditions [2]. Group 2: Financial Implications - The net proceeds from the share sale, after deducting offering expenses, are anticipated to be around $65 million [3]. - The funds will be utilized for general corporate purposes, indicating a focus on strengthening the company's operational capabilities [3]. Group 3: Regulatory and Market Context - The private placement is exclusively for investors in Israel and will not be offered to U.S. persons, adhering to Regulation S under the U.S. Securities Act [4]. - The shares will not be registered under the Securities Act and will be subject to transfer restrictions [4]. Group 4: Company Overview - Gilat Satellite Networks Ltd. is a leading provider of satellite-based broadband communications with over 35 years of experience [7]. - The company offers a range of solutions for satellite, ground, and new space connectivity, catering to both commercial and defense applications [7][8]. - Its product portfolio includes high-performance satellite terminals, advanced antennas, and integrated ground systems, supporting various applications such as government, defense, and critical infrastructure [9][10].