Gilat raises $100M in convertible notes for satellite, defence push
What's the deal? Gilat Satellite NetworksDealroom has a profile for this one. Try Dealroom → has raised $100 million through a convertible-note offering completed on September 7, 2026. The senior unsecured notes carry a 3.75% annual coupon and an initial conversion price of $16.00 per Ordinary Share.
The terms: The notes mature on September 1, 2031, unless redeemed or converted earlier, with annual interest payments starting September 1, 2027. Gilat can mandate conversion if its Nasdaq price hits $20.00 per Ordinary Share, subject to trading conditions. The interest rate may rise by 1.25% if a Nasdaq sale-price condition based on a $15.00 average is not met.
What's the endgame? Gilat plans to use net proceeds for general corporate purposes, chiefly accelerating investment in satellite and space technologies. That includes multi-orbit, mobility, ground, and defence systems.
Why now? The private placement was conducted in Israel under Regulation S and was not offered to US persons. It gives Gilat fixed-rate capital while offering investors an equity conversion option.
The signal: Convertible notes let established companies raise sizeable capital without immediately diluting shareholders. For Gilat, the $100 million round marks a meaningful bet on next-generation satellite and defence technology as demand for space infrastructure grows.
Image credit: Marion Doss
