Gilat Completes $100M Convertible Notes Offering at $16.00 Conversion Price
GILT is trading near its 52-week low of $9.68 (3.1% above the low).
Summary
Gilat completed its $100M convertible notes offering with a $16.00 conversion price, 3.75% coupon, and 2031 maturity. Terms include an interest rate step-up if shares stay below $15.00 and forced conversion if shares exceed $20.00.
Key Events · Financing and Capital Events · GILT
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$100M Convertible Notes Completed
Gilat closed the $100 million private placement of 5-year convertible notes on September 7, 2026, with gross proceeds of $100 million before fees and expenses.
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Conversion Price Set at $16.00
Notes convert at $16.00 per Ordinary Share — a 60% premium to the current $9.98 share price. At full conversion, approximately 6.25 million new shares would be issued.
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Interest Rate Step-Up Protection
If Gilat's average share price stays below $15.00 for the 30-day period ending March 1, 2028, the 3.75% coupon increases by 1.25% to 5.00% for the remaining term.
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Forced Conversion at $20.00
Gilat can compel conversion if shares trade at or above $20.00 for 10 consecutive trading days, providing a path to equity deleveraging if the stock doubles.
Analysis · GILT · Manufacturing
Gilat closed its $100 million convertible notes private placement, finalizing terms that were only partially disclosed in the August 31 announcement. The $16.00 conversion price represents a 60% premium to the current $9.98 share price, meaning noteholders only convert if the stock appreciates substantially. The interest rate step-up mechanism — adding 1.25% if shares average below $15.00 through March 2028 — protects investors against prolonged share price weakness. The forced conversion right at $20.00 gives Gilat an equity path to deleverage if the stock doubles. Proceeds fund next-generation satellite and space technology investments, supporting the Comtech acquisition strategy announced in June.
How filings like this one have moved
In the 30 days to Sep 9, 2026, 30% of the 1972 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.02%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, GILT was trading at $9.98 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $779.5M. The 52-week trading range was $9.68 to $20.93. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.