Elbit Systems Ltd. Offering Solely of "Primary" Shares.HAIFA, Israel--(BUSINESS WIRE)--September 25, 1997--Elbit Systems Ltd. (NASDAQ-NM Symbol: ESTLF) announced today that the 3,000,000 Ordinary Shares which are the subject of its current public offering pursuant to a firm commitment underwriting Firm commitment underwriting An underwriting in which an investment banking firm commits to buy and sell an entire issue of stock and assumes all financial responsibility for any unsold shares. (and any additional shares that may be issued upon exercise of the underwriters' over-allotment option) will be newly-issued shares of the Company. No shares will be sold in the offering by any current shareholder, including the 1,000,000 Ordinary Shares previously registered by the Company, and the Company will receive all of the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the offering. Elbit Systems Elbit Systems Ltd. NASDAQ: ESLT is one of Israel's largest defense electronics manufacturers and integrators. Established in 1967, and based in Haifa, Israel, Elbit has over 8,000 employees. Ltd. is engaged in a wide range of defense-related airborne airborne /air·borne/ (ar´born) suspended in, transported by, or spread by air. airborne, adj carried through the air. In health care settings, viruses or bacteria may become airborne, e.g. , ground and command, control and communications ("C3") programs throughout the world. The Company focuses on upgrading of existing military platforms and developing new technologies for defense applications. This press release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. CONTACT: Elbit Systems Ltd. Arie Tal Tel: (972-4) 831-6632 Fax: (972-4) 855-0317 or Lippert/Heilshorn & Associates, Inc. Jody Burfening 212/838-3777 (ext. 106) jody@lhai.com |
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