HAIFA, Israel, April 9, 2019 /PRNewswire/ -- Elbit
Systems Ltd. (NASDAQ: ESLT) (TASE:
ESLT) ("Elbit Systems" or "the Company") announced
today that it has obtained the commitment of several institutional
investors in Israel to purchase
1,408,921 ordinary shares of the Company, par value 1.0 New Israeli
Shekel ("NIS") per share (the "Offered Shares"), at a purchase
price per Offered Share of approximately NIS
472 (approximately $132), for
gross proceeds of approximately NIS 665
million (approximately $186
million) (the "Offering"). The Offered Shares are currently
held by the Company as treasury shares.
Barak Capital Underwriting Ltd. is acting as a distributer in
Israel for the Offering. The
closing of the Offering is expected to occur on or about
April 15, 2019, subject to the
satisfaction of customary closing conditions, including receipt of
the approval of the Tel Aviv Stock Exchange Ltd. (TASE) for trade
on the TASE of the Offered Shares.
The Company intends to use the net proceeds from the Offering
for general corporate purposes.
The sale and/or transfer of the Offered Shares to the purchasers
are subject to the limitations on re-sale of securities set forth
in the Israeli Securities Law of 1968 and the regulations
promulgated thereunder as applicable.
The Offered Shares are being offered by the Company pursuant to
an automatic shelf registration statement (including a prospectus)
that was filed on April 8, 2019 with
the United States Securities and Exchange Commission (the "SEC")
and became effective upon such filing. Prospective investors should
read the prospectus in that registration statement and the
documents incorporated by reference in that registration statement.
You may obtain these documents for free by visiting EDGAR on the
SEC website at www.sec.gov or the TASE website at
www.maya.tase.co.il.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities, including the
Offered Shares, in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
About Elbit Systems
Elbit Systems Ltd. is an international high technology company
engaged in a wide range of defense, homeland security and
commercial programs throughout the world. The Company, which
includes Elbit Systems and its subsidiaries, operates in the areas
of aerospace, land, and naval systems, command, control,
communications, computers, intelligence surveillance and
reconnaissance ("C4ISR"), unmanned aircraft systems, advanced
electro-optics, electro-optic space systems, EW suites, signal
intelligence systems, data links, communications systems, radios,
cyber-based systems and munitions. The Company also
focuses on the upgrading of existing platforms, developing new
technologies for defense, homeland security and commercial
applications and providing a range of support services, including
training and simulation systems.
For additional information, visit: www.elbitsystems.com, follow
us on Twitter or visit our official Youtube Channel.
This press release contains forward‑looking statements (within
the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended) regarding Elbit Systems Ltd. and/or its subsidiaries
(collectively the Company), to the extent such statements do not
relate to historical or current fact. Forward-looking
statements are based on management's expectations, estimates,
projections and assumptions. Forward‑looking statements are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, as amended. These
statements are not guarantees of future performance and involve
certain risks and uncertainties, which are difficult to
predict. Therefore, actual future results, performance and
trends may differ materially from these forward‑looking statements
due to a variety of factors, including, without limitation:
expectations with respect to the Offering, including statements
about our intended use of proceeds from the Offering, scope and
length of customer contracts; governmental regulations and
approvals; changes in governmental budgeting priorities; general
market, political and economic conditions in the countries in which
the Company operates or sells, including Israel and the
United States among others; differences in anticipated and
actual program performance, including the ability to perform under
long-term fixed-price contracts; and the outcome of legal and/or
regulatory proceedings. The factors listed above are not
all-inclusive, and further information is contained in Elbit
Systems Ltd.'s latest annual report on Form 20-F, which is on file
with the U.S. Securities and Exchange Commission. All
forward‑looking statements speak only as of the date of this
release. The Company does not undertake to update its
forward-looking statements.
Elbit Systems Ltd., its logo, brand, product, service and
process names appearing in this Press Release are the trademarks or
service marks of Elbit Systems Ltd. or its affiliated
companies. All other brand, product, service and process
names appearing are the trademarks of their respective
holders. Reference to or use of a product, service or process
other than those of Elbit Systems Ltd. does not imply
recommendation, approval, affiliation or sponsorship of that
product, service or process by Elbit Systems Ltd. Nothing contained
herein shall be construed as conferring by implication, estoppel or
otherwise any license or right under any patent, copyright,
trademark or other intellectual property right of Elbit Systems
Ltd. or any third party, except as expressly granted herein.
Contacts:
Company
Contact:
Joseph Gaspar,
Executive VP & CFO
Tel:
+972-4-8316663
j.gaspar@elbitsystems.com
David Vaaknin,
VP, Head of Corporate Communications
Tel:
+972-77-2946691
david.vaaknin@elbitsystems.com
|
IR
Contact:
Ehud
Helft
Gavriel
Frohwein
GK Investor
Relations
Tel:
1-646-688-3559
elbitsystems@gkir.com
|
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SOURCE Elbit Systems Ltd