NETANYA, Israel, Aug. 28, 2017 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ:RADA) (the “Company” or “RADA”) today announced that DBSI, the Company’s principal shareholder, has converted a $3.175 million convertible loan granted to the Company in June 2016, into ordinary shares of RADA. The conversion was made at $2.40 per ordinary share, in accordance with the loan terms.
This conversion is expected to save RADA approximately $250,000 in annual financial expenses.
About RADA
RADA Electronic Industries Ltd. is an Israel-based defense electronics system house. The Company specializes in the development, production, and sales of Tactical Land Radars for Force and Border Protection, and Avionics Systems (including Inertial Navigation Systems) for fighter aircraft and UAVs.
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