Elbit Systems raises $186m in private placement

Elbit Systems

Barak Capital Underwriting is handling the private placement in Israel.

Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) has announced that it has obtained commitments from investment institutions in Israel to buy 1,408,921 ordinary shares of NIS 1 par value each in a private placement at NIS 472 ($132) per share, amounting to a total of NIS 665 million ($186 million). Elbit Systems holds these shares as treasury shares.

Barak Capital Underwriting is handling the private placement in Israel. Completion of the offering, which is slated for April 15, 2019 or close to that date, is contingent on a number of conditions, as is usual with such offerings. One of these conditions is willingness by the Tel Aviv Stock Exchange (TASE) to list the offered shares for trading.

Elbit Systems plans to use the proceeds from the private placement for its general purposes.

The sale or transfer of the offered shares, insofar as it takes place, is subject to the restrictions applying to the sale of securities under the Securities Law - 1968 and the regulations issued according to it applying to a private placement.

The shares offered by the company are being issued in the framework of an automatic shelf registration statement that includes a prospectus submitted to the US Securities and Exchange Commission (SEC), which is valid from the date on which it was submitted.

Published by Globes, Israel business news - en.globes.co.il - on April 10, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Elbit Systems
Elbit Systems
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