Gilat Satellite Networks offers USD 100 million convertible notes in private placement
GILT•Convertible notes private placement terms
Gilat Satellite Networks launched a USD 100 million convertible Notes (Series 1) private placement to classified investors.
- Notes carry 3.75% fixed annual interest, payable each Sept. 1 from 2027 through 2031.
- Interest steps up by 1.25% from March 1, 2028 if the average Nasdaq adjusted close is below USD 15 over 30 days.
- Principal is due in a single payment on Sept. 1, 2031; notes are targeted for trading on TASE-UP.
- Conversion ratio is set at USD 16 face value per ordinary share; the issuer can force conversion after lock-up removal if shares average at least USD 20.
