Gilat - News & Events

News Events		News Gilat Satellite Networks Ltd. Announces the Filing of a Registration Statement for a Public Offering of its Ordinary Shares Nov 21, 2006 \| Print Petah Tikva, Israel, November 21, 2006 — Gilat Satellite Networks Ltd. (NASDAQ Global: GILT) today filed a registration statement with the Securities and Exchange Commission with respect to a proposed underwritten public offering of 7,000,000 of its ordinary shares, which includes up to 4,666,667 ordinary shares offered by the Company and up to 2,333,333 ordinary shares offered by York Capital Management, LLC, a selling shareholder. An option has been granted to the underwriters to purchase up to an additional 350,000 ordinary shares from the Company and up to an additional 700,000 ordinary shares from the selling shareholder to cover over-allotments, if any. The Company expects to use the proceeds from the offering for general corporate purposes, including working capital. The joint book-running managers of the offering are Cowen and Company, LLC and CIBC World Markets Corp. The co-managers of the offering are William Blair & Company LLC, C.E. Unterberg, Towbin, LLC, and Oppenheimer & Co. Inc. When available, copies of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933 relating to this offering may be obtained from Cowen and Company, LLC, Prospectus Department at ADP, 1155 Long Island Avenue, Edgewood, NY 11717, (631) 254-7106. and from CIBC World Markets Corp., USE Prospectus Department, 9th floor, 622 Third Avenue, New York, NY 10016, (212) 667-7200. Electronic copies of the registration statement are available from the Securities and Exchange Commission’s website address at www.sec.gov. 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. The offering, including the sale of the shares by the selling shareholder, has been duly approved by the Company’s audit committee and board of directors. About Gilat Satellite Networks Ltd. Gilat Satellite Networks Ltd. (NASDAQ Global: GILT) is a leading provider of products and services for satellite-based communications networks. The Company operates under three business units: (i) Gilat Network Systems ("GNS"), which is a provider of network systems and associated professional services to service providers and operators worldwide; (ii) Spacenet Inc., which provides managed services in North America for businesses and governments through its Connexstar service brand and for consumers through its StarBand service brand; (iii) Spacenet Rural Communications, which offers rural telephony and Internet access solutions to remote areas primarily in Latin America. Gilat was founded in 1987 and has shipped over 600,000 Very Small Aperture Terminals (VSATs) to more than 85 countries across six continents. Gilat’s headquarters is located in Petah Tikva, Israel. The Company has 14 local offices and three service facilities worldwide. Gilat markets the SkyEdge ™ Product Family which includes the SkyEdge™ Pro, SkyEdge™ IP, SkyEdge™ Call, SkyEdge™ DVB-RCS and SkyEdge™ Gateway. In addition, the Company markets numerous other legacy products. Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission.

News

Gilat Satellite Networks Ltd. Announces the Filing of a Registration Statement for a Public Offering of its Ordinary Shares
Nov 21, 2006 | Print

Petah Tikva, Israel, November 21, 2006 — Gilat Satellite Networks Ltd. (NASDAQ Global: GILT) today filed a registration statement with the Securities and Exchange Commission with respect to a proposed underwritten public offering of 7,000,000 of its ordinary shares, which includes up to 4,666,667 ordinary shares offered by the Company and up to 2,333,333 ordinary shares offered by York Capital Management, LLC, a selling shareholder. An option has been granted to the underwriters to purchase up to an additional 350,000 ordinary shares from the Company and up to an additional 700,000 ordinary shares from the selling shareholder to cover over-allotments, if any.

The Company expects to use the proceeds from the offering for general corporate purposes, including working capital.

The joint book-running managers of the offering are Cowen and Company, LLC and CIBC World Markets Corp. The co-managers of the offering are William Blair & Company LLC, C.E. Unterberg, Towbin, LLC, and Oppenheimer & Co. Inc. When available, copies of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933 relating to this offering may be obtained from Cowen and Company, LLC, Prospectus Department at ADP, 1155 Long Island Avenue, Edgewood, NY 11717, (631) 254-7106. and from CIBC World Markets Corp., USE Prospectus Department, 9th floor, 622 Third Avenue, New York, NY 10016, (212) 667-7200. Electronic copies of the registration statement are available from the Securities and Exchange Commission’s website address at www.sec.gov.

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.

The offering, including the sale of the shares by the selling shareholder, has been duly approved by the Company’s audit committee and board of directors.

About Gilat Satellite Networks Ltd.

Gilat Satellite Networks Ltd. (NASDAQ Global: GILT) is a leading provider of products and services for satellite-based communications networks. The Company operates under three business units: (i) Gilat Network Systems ("GNS"), which is a provider of network systems and associated professional services to service providers and operators worldwide; (ii) Spacenet Inc., which provides managed services in North America for businesses and governments through its Connexstar service brand and for consumers through its StarBand service brand; (iii) Spacenet Rural Communications, which offers rural telephony and Internet access solutions to remote areas primarily in Latin America.

Gilat was founded in 1987 and has shipped over 600,000 Very Small Aperture Terminals (VSATs) to more than 85 countries across six continents. Gilat’s headquarters is located in Petah Tikva, Israel. The Company has 14 local offices and three service facilities worldwide. Gilat markets the SkyEdge ™ Product Family which includes the SkyEdge™ Pro, SkyEdge™ IP, SkyEdge™ Call, SkyEdge™ DVB-RCS and SkyEdge™ Gateway. In addition, the Company markets numerous other legacy products.

Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission.