#Israel #TAT Technologies #Netanya #Aerospace Industry #Nasdaq TATT

TAT Technologies Raises Capital with New Share Offerings

TAT Technologies Ltd., a prominent provider in the aerospace and defense sectors, recently announced the pricing of a substantial public offering of ordinary shares. This strategic financial move involves the issuance of 4,150,000 ordinary shares at a public offering price of $26.00 each. The offering is set to take place as part of an underwritten process, with a blend of sales from TAT and significant shareholders.

Breakdown of the Offering

Out of the total shares being offered, TAT itself will sell 1,625,000 shares, while the remaining 2,525,000 shares will be provided by selling shareholders FIMI Opportunity V, L.P., and FIMI Israel Opportunity Five, Limited Partnership. Additionally, an option has been granted to underwriters for the purchase of up to an additional 242,298 shares from TAT and 380,202 shares from the selling shareholders, contingent on meeting certain conditions.

The public offering is anticipated to generate gross proceeds of approximately $42.3 million for TAT before accounting for underwriting discounts and expenses. Importantly, TAT will not receive any funds from the shares sold by the selling shareholders. The company plans to utilize the net proceeds from its own sale for general corporate purposes, which may include working capital and capital expenditures necessary to maintain and expand operations.

Timing and Management of the Offering

The offering is expected to close on or about June 3, 2025, pending standard closing conditions. Stifel, Nicolaus & Company, Incorporated, and Truist Securities, Inc. serve as the joint book-running managers for this offering, while The Benchmark Company, LLC, and Lake Street Capital Markets, LLC will act as passive book-running managers.

Regulatory Compliance

In accordance with securities law, a registration statement concerning the ordinary shares to be offered has already been filed with the U.S. Securities and Exchange Commission (SEC) and received effective status on April 25, 2025. The offering is made exclusively via a prospectus supplement accompanied by a prospectus, ensuring all regulatory requirements are met. Interested parties can access this documentation for free by visiting the SEC's EDGAR database at www.sec.gov.

A Closer Look at TAT Technologies

TAT Technologies is renowned for its commitment to providing exceptional solutions and services within the aerospace and defense industries. The company operates through four key sectors: 1) original equipment manufacturing of heat transfer solutions and aviation accessories based out of Kiryat Gat, Israel; 2) maintenance, repair, and overhaul (MRO) services for heat transfer components and OEM solutions through its subsidiary, Limco Airepair Inc.; 3) MRO services for aviation components, particularly Auxiliary Power Units and landing gear via Piedmont Aviation Component Services LLC; and 4) overhaul and coating of jet engine components through Turbochrome Ltd.

With these diverse operations, TAT Technologies plays a critical role in bolstering the robustness of the aerospace and military sectors by maintaining high standards of product quality and service delivery.

Looking Ahead

The future looks bright for TAT Technologies as they navigate the financial landscape with this new offering. However, as with all forward-looking statements, uncertainties surrounding geopolitical factors, such as the ongoing hostilities in the region, could impact the company's trajectory. Stakeholders and potential investors will be keeping a close watch on TAT's performance and strategic decisions as they capitalize on this capital influx to enhance their operational capabilities.

In conclusion, TAT Technologies' recent public offering and strategic maneuvers not only reflect its dedication to growth but also its resilience in the ever-evolving aerospace and defense market.