RADA Announces Proposed Public Offering of Ordinary Shares

NETANYA, Israel, Jan. 07, 2020 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (“RADA”) (NASDAQ: RADA), a global defense technology company, today announced that it intends to offer and sell its ordinary shares in an underwritten public offering. RADA also expects to grant to the underwriters a 30-day option to purchase up to an additional 15% of its ordinary shares to cover overallotments, if any. There can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the offering.

RADA intends to use the net proceeds from this offering for general corporate purposes.

Canaccord Genuity LLC is acting as the sole bookrunning manager of the offering. 

The offering is being made pursuant to an effective shelf registration statement (File No. 333-226845) declared effective by the Securities and Exchange Commission on August 21, 2018. A prospectus supplement and accompanying base prospectus relating to the offering will be filed with the Securities and Exchange Commission. When available, copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from the Securities and Exchange Commission at http://www.sec.gov, or from Canaccord Genuity LLC, 99 High Street, Suite 1200, Boston, Massachusetts 02110, Attn: Syndicate Department, by telephone at [phone], or by email at [e-mail].

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities law of any such state or jurisdiction.

About RADA

RADA is a global defense technology company focused on proprietary radar solutions and legacy avionics systems. The Company is a leader in mini-tactical radars, serving attractive, high-growth markets, including critical infrastructure protection, border surveillance, active military protection and counter-drone applications.

Safe Harbor Statement
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995, including statements regarding RADA’s expectations with respect to its proposed offering and its intended use of proceeds from the offering. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including the risks and uncertainties associated with market conditions, as well as risks and uncertainties inherent in RADA’s business, including, but not limited to, changes in general economic conditions, risks in product and technology developments, market acceptance of new products and continuing product demand, level of competition and other factors described in RADA’s Annual Report on Form 20-F for the year ended December 31, 2018, and other filings with the Securities and Exchange Commission.

Company Contact: Avi Israel, CFO Tel: [phone]  [e-mail] www.rada.com

Investor Relations Contact: GK Investor Relations Ehud Helft/Gavriel Frohwein Tel: [phone] [e-mail]