Gilat Satellite Networks Ltd. Convertible Notes Private Placement

On September 7, 2026, Gilat Satellite Networks Ltd. completed a private placement of $100 million in convertible notes. The net proceeds will be used for general corporate purposes, with a focus on accelerating investments in next-generation satellite and space technologies, supporting initiatives, and expanding capabilities in multi-orbit, mobility, ground, and defense technologies. The notes bear interest at 3.75% annually, with a potential increase to 5% if the stock price does not average $15.00 for a consecutive 30-day period ending 18 months after issuance. The notes mature on September 1, 2031, and are convertible into ordinary shares at an initial price of $16.00 per share. Gilat may force conversion if the stock price reaches $20.00 for 10 consecutive trading days, subject to certain conditions. The private placement was made in Israel and not to U.S. persons, in accordance with Regulation S under the Securities Act of 1933. Gilat has undertaken to file a registration statement with the SEC within 12 months for the resale of the underlying ordinary shares.