Gilat Satellite prices 8.88M shares at $11.25 in private placement

Gilat Satellite (GILT) Networks announced that, following the approval of its Board of Directors, it has received and accepted commitments from Israeli institutional and accredited investors of Ordinary Shares of the Company. The Company is expected to issue and sell to the Investors an aggregate of 8,888,889 Ordinary Shares, for a purchase price of $11.25 per Share, which represents an approximately 7.9% discount to the 10-day Volume Weighted Average Price. The newly issued Shares are expected to represent approximately 12.15% of the Company’s issued and outstanding Ordinary Shares after the consummation of such sale. The closing of the transaction is subject to customary closing conditions and is expected to be completed in December 2025. The Company expects to receive net proceeds from the sale of the Shares, after deducting offering expenses, of approximately $98.8M. The Company intends to use such proceeds for general corporate purposes, including potential strategic acquisitions.