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Gilat Raises $104 Million In Equity Through Exchange

By | November 13, 2003

      Gilat Satellite Networks [Nasdaq: GILTF], an Israel-based satellite networking company, has raised $104 million through an exchange of its ordinary shares for its outstanding 4 percent convertible subordinated notes due 2012. Gilat offered 125 of its ordinary shares for each $1,000 principal amount of the notes and accrued interest.

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