NEWS!! Not accepted well by the market....dilution?
Gilat Satellite Networks Files for
Public Offering
PETAH TIKVA, Israel--(BUSINESS WIRE)--Jan. 20, 1999--Gilat Satellite Networks Ltd.
(NASDAQ:GILTF - news) reported that it filed today a registration statement with the
United States Securities and Exchange Commission with respect to a proposed public
offering of 4,745,000 Ordinary Shares, including the sale of 745,000 Ordinary Shares by
certain shareholders of the Company. The underwriters for the offering are Merrill Lynch
& Co., Goldman, Sachs & Co., CIBC Oppenheimer, Lehman Brothers and Salomon
Smith Barney.
Gilat Satellite Networks Ltd. designs, develops, manufactures, markets and supports
Very Small Aperture Terminal (VSAT) satellite earth stations and related hub equipment
and software. Gilat products are incorporated into telecommunications networks that
provide satellite-based communications between a central location and a large number
of geographically dispersed sites. The Company offers a range of products focused on
the data, telephony and IP (Internet) markets.
Copies of the preliminary prospectus for this offering may be obtained from the
syndicate departments of the underwriters mentioned above or from Steve Curtis at
Ruder Finn, telephone 212-593-6319.
A registration statement relating to these securities has been filed with the Securities
and Exchange Commission but has not yet become effective. These securities may not
be sold, nor may offers to buy be accepted prior to the time the registration statement
becomes effective. This announcement shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these securities in any state in
which such offer, solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state. |
