TAT Technologies Ltd. (NASDAQ: TATT) (“TAT” or the “Company”), a leading provider of products and services to the commercial and military aerospace and ground defense industries, reported the completion of its placement to Israeli institutional and accredited investors.
Explanatory Note:
On December 20, 2023, TAT Technologies Ltd., an Israeli company (the “Company”), completed the issuance and sale of 1,158,600 Ordinary Shares, par value NIS 0.90 per share, of the Company (the “Shares”), in a private placement to Israeli institutional and accredited investors (as defined under Israel’s Securities Law, 5728-1968) (the “Investors”), for a purchase price of NIS 31.70 per Share (approximately $8.69 per Share*), resulting in net proceeds to the Company, after deducting offering expenses, of approximately NIS 36.2 million (or approximately $9.9 million*).
As previously announced by the Company on December 14, 2023, the private placement was made in Israel only and not to U.S. persons, as defined in Rule 902 of the U.S. Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration exemption afforded by Regulation S promulgated under the Securities Act, and the Shares are subject to certain transfer restrictions. The Shares will not be registered under the Securities Act and will not be offered or sold in the United States without registration or applicable exemption from the registration requirements according to the Securities Act.
This press release does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities or a solicitation of any vote or approval nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation, sale, issuance or transfer would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
* Calculated based on the exchange rate of $1.00:NIS 3.648, as published by the Bank of Israel on December 20, 2023.
