TAT Technologies proposes private placement to Israeli institutional and accredited investors

Services and products provider to commercial and military aerospace company TAT Technologies has accepted commitments from Israeli institutional and accredited investors to participate in a private placement of ordinary shares of the company. The company is expected to issue and sell to investors an approximate 673,340 ordinary shares for the purchase price of 54.95 new Israeli sheqel ($15.03) per share. The newly issued shares represent approximately 6.2% of the company's issued and outstanding ordinary shares after the sale is consummated. The closing of the transaction is expected to be completed this month. TAT expects net proceeds from the shares to be around $10 million and will use the proceeds for general corporate purposes. In addition, TAT's largest shareholder FIMI Funds has also received and accepted commitments from Israeli institutional and accredited investors for around 2.3 million ordinary shares at a purchase price of around 54.95 new Israeli sheqel ($15.03) per share - totalling 129.1 million new Israeli sheqel ($35.3 milli0n). FIMI Funds sale are being made in Israel only and not to US investors.