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Posted On: 09/09/2017 4:24:42 PM
Post# of 85
RADA Announces Loan Conversion by its Major Shareholder
Netanya, Israel, August 28, 2017 - RADA Electronic Industries Ltd. (NASDAQ: RADA) today announced that DBSI, the Company’s principal shareholder, has converted a $3.175 million convertible loan granted to the Company (RADA) in June 2016, into ordinary shares of RADA. The conversion was made at $2.40 per ordinary share, in accordance with the loan terms.
This conversion is expected to save RADA approximately $250,000 in annual financial expenses.
https://www.rada.com/corp/news/225-pr-loan-co...aug17.html
Netanya, Israel, August 28, 2017 - RADA Electronic Industries Ltd. (NASDAQ: RADA) today announced that DBSI, the Company’s principal shareholder, has converted a $3.175 million convertible loan granted to the Company (RADA) in June 2016, into ordinary shares of RADA. The conversion was made at $2.40 per ordinary share, in accordance with the loan terms.
This conversion is expected to save RADA approximately $250,000 in annual financial expenses.
https://www.rada.com/corp/news/225-pr-loan-co...aug17.html
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