Netanya, Israel, January 17, 2017 - RADA Electronic Industries Ltd. (NASDAQ: RADA) announced that yesterday, DBSI, the company’s principal shareholder, converted its final tranche of 1.45 million warrants into ordinary shares of RADA, in consideration for $800,000.

Concurrently, DBSI has notified RADA that it has sold 1.6 million RADA ordinary shares to leading Israeli institutional investors, all of the existing shareholders of RADA, thus strengthening institutional holdings in RADA. The sales price of ordinary shares sold to these institutions was $2.77 per share.
Following the above transactions, DBSI continues to hold approximately 9 million shares of RADA, constituting about 29% of its equity.

Yossi Ben Shalom, RADA’s Chairman and partner in DBSI, commented: “We are very pleased with the performance of RADA since our initial investment. The full exercise of our warrants, and the increased holdings of major institutional investors, further improves RADA’s balance sheet and the trust of the investment community in the company.

 

About RADA Electronic Industries Ltd.

RADA Electronic Industries Ltd. is an Israel-based defense electronics company. The Company specializes in the development, production, and sales of tactical land radar for force and border protection, and avionics systems (including inertial navigation systems) for fighters and UAVs.

   

 Company Contact:  Investor Relations Contact:
 Avi Israel | CFO  Ehud Helft / Gavriel Frohwein
 RADA Electronic Industries LTD.   GK Investor & Public Relations
 Tel: +972-9-892-1111  Tel: +1 646 688 3559
 This email address is being protected from spambots. You need JavaScript enabled to view it.  This email address is being protected from spambots. You need JavaScript enabled to view it.

   


Cautionary Statement Regarding Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.