Gilat Satellite Networks secured $100 million through a private placement of senior unsecured convertible notes from Israeli institutional investors. The transaction is expected to close on September 1, 2026. It provides Gilat with long-term capital for strategic investments.
The five-year notes will mature on September 1, 2031. They carry an annual interest rate of 3.75%. The notes are convertible into company shares at $16.00 per share. This price represents a premium of approximately 60%. The premium is over the stock's closing price on August 28, 2026. Gilat intends to use the proceeds for general corporate purposes. The company will emphasize accelerating investments in next-generation satellite and space technologies.