6-K
Foreign issuer report
✓ VerifiedGilat completed a $100 million private placement of 3.75% senior unsecured convertible notes maturing September 1, 2031, convertible into Ordinary Shares at an initial conversion price of $16.00 per share.
Filed Sep 8, 2026 · 06:00 ET
Summary
- On September 7, 2026, Gilat completed the issuance and sale of $100 million in principal amount of convertible notes, with gross proceeds of $100 million before fees and estimated offering expenses.
- The Notes are senior unsecured obligations bearing interest at 3.75% per annum, payable annually on September 1 beginning September 1, 2027, and mature on September 1, 2031.
- The initial conversion price is $16.00 per Ordinary Share, and holders may convert at any time after Closing until the tenth day before maturity.
- If the Nasdaq sale price does not average at least $15.00 for a consecutive 30-day period ending 18 months after issuance, the interest rate increases by 1.25% from that Measurement Date.
- Gilat may force conversion if the Ordinary Share price equals or exceeds $20.00 for 10 consecutive trading days, on or after September 1, 2027 and effectiveness of a resale registration statement.
- The Private Placement was made only in Israel under Regulation S, and Gilat undertook to file a resale registration statement with the SEC no later than 12 months following the Closing.
Key facts
- Principal amount
- $100 million
From the filing for Principal amount
“issuance and sale of $100 million in principal amount of convertible notes of the Company”
- Interest rate
- 3.75% per annum
From the filing for Interest rate
“bear interest at a rate of 3.75% per annum from and including the date of the Closing”
- Maturity date
- September 1, 2031
From the filing for Maturity date
“The Notes will mature on September 1, 2031, unless earlier redeemed or converted.”
- Conversion price
- $16.00 per Ordinary Share
From the filing for Conversion price
“The initial conversion price of the Notes is $16.00 per Ordinary Share.”
- Interest step-up trigger
- $15.00 average, 1.25% increase
From the filing for Interest step-up trigger
“does not equal or exceed an average of $15.00 for a consecutive 30-day period ending 18 months after the issuance date”
- Forced conversion threshold
- $20.00 for 10 consecutive trading days
From the filing for Forced conversion threshold
“If the sale price per Ordinary Share on Nasdaq equals or exceeds $20.00 for 10 consecutive trading days”
- Trustee and Deed date
- Reznik Paz Nevo Trusts Ltd., August 30, 2026
From the filing for Trustee and Deed date
“a deed of trust (the " Deed "), dated August 30, 2026, between Gilat and Reznik Paz Nevo Trusts Ltd., as trustee”
- Closing date
- September 7, 2026
From the filing for Closing date
“On September 7, 2026, Gilat Satellite Networks Ltd., an Israeli company”
Why it mattersThe placement raises $100 million in unsecured debt convertible into equity that Gilat intends to direct toward next-generation satellite and space technologies and its multi-orbit, mobility, ground and defense capabilities.
- Filed
- Sep 8, 2026
- Accepted
- 2026-09-08 10:00Z
- Period
- Sep 8, 2026
- Accession no.
- 0001178913-26-004427
- Size
- 329 KB
- Index
- Filing index