Elbit Systems Secures $512 Million from Share Offering
Elbit Systems Announces Public Offering Details
Elbit Systems Ltd. (NASDAQ: ESLT) has recently announced an exciting public offering of 1,365,450 ordinary shares. Each share is priced at $375, and all shares will be sold by the Company itself. Furthermore, the Company has provided the underwriters with a 30-day option to acquire an additional 204,817 shares at the public offering price, excluding any possible underwriting discounts and commissions.
Projected Proceeds and Usage
Elbit Systems anticipates gross proceeds of approximately $512 million from the offering, assuming no exercise of the underwriters' option. The funds raised will be utilized for general corporate purposes, demonstrating the Company's commitment to enhancing its operations and capabilities.
Underwriters and Management
The offering is being managed by notable financial institutions including BofA Securities, J.P. Morgan, Jefferies, and Morgan Stanley, all of whom are acting as joint book-running managers. Additionally, Barak Capital Underwriting serves as a placement agent for the underwriters.
Registration Statement and Compliance
This public offering is being conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission. The offering adheres strictly to regulatory guidelines, ensuring compliance and transparency throughout the process.
Offer Documentation Availability
Investors interested in the offering can expect prospectus supplements and accompanying documentation soon. These materials will provide essential details about the offering terms, the Company’s financial standing and future outlook.
Elbit Systems: A Global Defense Leader
Elbit Systems stands as a leading global defense technology company, dedicated to providing advanced solutions for a safer, more secure world. The Company is focused on developing, manufacturing, and sustaining a wide range of innovative solutions across various domains.
Culture and Workforce
Rooted in an agile and collaborative culture, Elbit Systems leverages Israel's robust technology ecosystem, enabling its customers to effectively tackle rapidly evolving challenges in the defense sector. The organization employs around 20,000 individuals across five continents, showcasing its global reach and commitment to excellence.
Financial Performance and Outlook
In recent reports, Elbit Systems generated revenues of $1.9 billion for the quarter ending March 31, along with an impressive order backlog valued at $23.1 billion. This strong financial performance highlights the Company’s capability to meet ongoing demand and adapt to market dynamics.
Company Contact Information
If you have inquiries regarding the offering or the Company, you can contact:
Dr. Yaacov (Kobi) Kagan, Executive VP - CFO, Tel: +972-77-2946663
Daniella Finn, VP, Investor Relations, Tel: +972-77-2948984
Dalia Bodinger, VP, Communications & Brand, Tel: +972-77-2947602
Frequently Asked Questions
What is the purpose of the share offering by Elbit Systems?
The share offering aims to raise approximately $512 million for general corporate purposes, helping the company to enhance its operations.
How many shares are being offered in total?
Elbit Systems is offering a total of 1,365,450 ordinary shares, with an option for underwriters to purchase additional shares.
What is the expected closing date of the offering?
The offering is anticipated to close shortly after all customary closing conditions are satisfied.
Who are the underwriters of this public offering?
Notable underwriters include BofA Securities, J.P. Morgan, Jefferies, and Morgan Stanley, who are jointly managing the offering.
Where can I find further information about this offering?
Further information and relevant documentation will soon be made available through official prospectus supplements and related materials to interested investors.
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