Business
TAT Technologies Announces Full Exercise and Closing of Underwriters' Option to Purchase Additional Ordinary Shares in Connection with its Public Offering
NETANYA, Israel, June 26, 2025 /PRNewswire/ -- TAT Technologies Ltd. (Nasdaq: TATT) (TASE: TATT) ("TAT" or the "Company"), a leading provider of products and
About this update from Tat Technologies Ltd.
[{"type":"text","content":"NETANYA, Israel, June 26, 2025 /PRNewswire/ -- TAT Technologies Ltd. (Nasdaq: TATT) (TASE: TATT) (\"TAT\" or the \"Company\"), a leading provider of products and services to the commercial and military aerospace and ground defense industries, announced today that, in connection with its previously announced underwritten public offering of 4,150,000 ordinary shares (consisting of 1,625,000 ordinary shares sold and issued by TAT and 2,525,000 ordinary shares sold by FIMI Opportunity V, L.P. and FIMI Israel Opportunity Five, Limited Partnership (the \"Selling Shareholders\")) (the \"Offering\"), the underwriters have exercised their option in full to purchase up to an additional 622,500 ordinary shares (consisting of 242,298 ordinary shares sold and issued by TAT and 380,202 ordinary shares sold by the Selling Shareholders) (the \"Option Shares\") at a public offering price of $26.00 per ordinary share, which was the same public offering price per share as in the Offering. The sale and issuance of the Option Shares closed today.\n\nThe total gross proceeds of the sale and issuance of the Option Shares to TAT, before underwriting discounts and commissions and offering expenses, was $6.3 million. TAT did not receive any proceeds from the sale of Option Shares by the Selling Shareholders. TAT intends to use the net proceeds that it received from the sale and issuance of the Option Shares for general corporate purposes, including working capital and capital expenditures. \nStifel, Nicolaus & Company, Incorporated and Truist Securities, Inc. acted as joint book-running managers of the Offering. The Benchmark Company, LLC and Lake Street Capital Markets, LLC acted as passive book-running managers.\nA registration statement on Form F-3 (File No. 333-286699) relating to the ordinary shares sold in the Offering and the sale and issuance of the Option Shares has been filed with the U.S. Securities and Exchange Commission (the \"SEC\") and was declared effective on April 25, 2025. The Offering and the sale and issuance of the Option Shares were made only by means of a prospectus supplement and accompanying prospectus. A copy of the preliminary prospectus supplement and the accompanying prospectus relating to the Offering and to the sale and issuance of the Option Shares may be obtained for free by visiting EDGAR on the SEC's website at www.se...