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Gilat Announces Final Investor, $125 Million Equity Funding In Gilat-To-Home DBS Service
Gilat Satellite Networks Ltd. [GILTF] announced the completion of funding commitments and the final equity partner in its Gilat-To-Home DBS service – the investment bank ING Furman Selz Investments.
Total funding for the company will be $125 million in cash, Gilat Satellite officials said. Gilat Satellite will own 50 percent. ING Furman Selz will have an 8.8 percent stake, and 6 percent will be reserved for the management and staff of Gilat-To-Home.
The two equity investors previously announced are Echostar Communications Corp. [DISH] with a 17.6 percent share and Microsoft Corp. [MSFT] with a 26 percent share in the new company.
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