NETANYA, Israel, Jan. 17, 2018 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ:RADA) announced that yesterday, DBSI, the company’s principal shareholder, converted its final tranche of 1.45 million warrants into ordinary shares of RADA, in consideration for $800,000. Concurrently, DBSI has notified RADA that it has sold 1.6 million RADA ordinary shares to leading Israeli institutional investors, all of them existing shareholders of RADA, thus strengthening institutional holdings in RADA. The sales price of ordinary shares sold to these institutions was $2.77 per share.

Following the above transactions, DBSI continues to hold approximately 9 million shares of RADA, constituting about 29% of its equity.

Yossi Ben Shalom, RADA’s Chairman and partner in DBSI, commented: "We are very pleased with the performance of RADA since our initial investment. The full exercise of our warrants, and the increased holdings of major institutional investors, further improves RADA’s balance sheet and the trust of the investment community in the company."

About RADA

RADA Electronic Industries Ltd. is an Israel-based defense electronics contractor. 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.

Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such risk uncertainties and other factors include, but are not limited to, changes in general economic conditions, risks in product and technology developments, market acceptance of new products and continuing product demand, level of competition and other factors described in the Company's Annual Report on Form 20-F and other filings with the Securities and Exchange Commission.