RADA Electronic Industries LTD.
Canaccord Genuity is pleased to announce the completion of a follow-on offering of 4.8 million shares at US$5.25 per share, which includes the full exercise of the underwriters’ overallotment option, raising gross proceeds of US$25.3 million.
RADA Electronic Industries LTD. (NASDAQ: RADA) intends to utilize the net proceeds for general corporate purposes, including working capital, potential acquisitions, and growing its recently established US presence and manufacturing facility.
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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