Financing ·
Gilat Satellite Networks Ltd. announced it has received commitments from Israeli institutional investors for a private…
GILTGilat Satellite Networks Ltd
Gilat Satellite Networks Ltd. announced it has received commitments from Israeli institutional investors for a private placement of $100 million in convertible notes. The transaction is expected to close on September 1, 2026, subject to customary conditions. The notes bear interest at 3.75% per annum and mature on September 1, 2031. They are convertible into ordinary shares at an initial price of $16.00 per share, representing a 60% premium over the August 28, 2026 closing price of $9.94. Gilat intends to use net proceeds for general corporate purposes, focusing on next-generation satellite and space technologies. The company operates in the satellite networking technology industry, providing broadband communications solutions and services.