Gilat prices $100 million five-year convertible notes offering
GILT•Convertible notes offering priced
Gilat Satellite Networks set a private placement of $100 million 3.75% senior unsecured convertible notes due Sept. 1, 2031.
- Conversion price set at $16 per share, a 60% premium to the $9.94 Nasdaq close on Aug. 28, 2026.
- Interest steps up 1.25% if the share price fails to average $15 over a 30-day period 18 months post-issuance.
- The issuer can force conversion from Sept. 1, 2027 if shares trade at or above $20 for 10 straight sessions.
- Net proceeds are earmarked for general corporate purposes, with a focus on next-generation satellite and space technology investment.
