Gilat Accepts Commitments From Israeli Investors to Participate in $100 Million Convertible Notes Offering

06:50 AM EDT, 08/31/2026 (MT Newswires) -- Gilat Satellite Networks (GILT) has received and accepted commitments from Israeli institutional investors to participate in a private placement of convertible notes, the company said Monday. The notes will be convertible into the company's ordinary shares, each with a par value of 0.20 new Israeli shekel ($0.07). The notes will have a conversion price of $16 per ordinary share. Gross offerings are estimated to be about $100 million. The senior unsecured notes will bear interest at an annual rate of 3.75%, with interest payable each year on Sept. 1. The notes will mature on Sept. 1, 2031. Net proceeds from the offering will be used for general corporate purposes, with a particular focus on investments in next-generation satellite and space technologies, supporting strategic initiatives, and expanding its multi-orbit, mobility ground and defense technology capabilities. The offering is expected to close Tuesday, the company said.