Elbit Intends to Raise $186 in Private Offering

Nasdaq and Tel Aviv-listed defense contractor Elbit Systems Ltd. announced Tuesday it has obtained the commitment of several institutional investors in Israel to acquire NIS 665 million (approximately $186 million) worth of its ordinary shares in a private offering. Elbit intends to sell 1,408,921 shares at a price of NIS 472 (approximately $132) per share. The company intends to close the offering around April 15, pending the regulatory approval of the Tel Aviv Stock Exchange.

On Friday, Elbit announced a definitive agreement to acquire the night vision business of American technology company Harris Corporation for $350 million, sending its stock up 2.34% by market close. 

Bezalel Machlis. Photo: Amit Sha'al