RADA Announces Closing of Public Offering of 4,819,052 Ordinary Shares Including Exercise in Full of Underwritersa?? Option to Purchase Additional Shares

NETANYA, Israel, Jan. 10, 2020 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (a??RADAa?? or the a??Companya??) (NASDAQ: RADA), a global defense technology company, today announced the closing of its previously announced underwritten public offering of 4,819,052 ordinary shares of the Company at a public offering price of $5.25 per share, including the 628,572 ordinary shares sold pursuant to the exercise in full of the underwritersa?? option to purchase additional ordinary shares of the Company. RADA intends to use the net proceeds from this offering for general corporate purposes.
Canaccord Genuity LLCA  acted as the sole bookrunning manager of the offering and A.G.P. /Alliance Global Partners acted as Co-Manager.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.
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