UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of
December 2018
RADA ELECTRONIC INDUSTRIES LIMITED
(Name of Registrant)
7 Giborei Israel Street, Netanya 4250407, Israel
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [X]
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ____________
This Form 6-K and its exhibits are being incorporated by reference into the Registrant’s Form F-3 Registration Statements (File Nos. 333-212643, 333-216973, 333-220304, 333-226387) and Form S-8 (File No. 333-213284).
RADA ELECTRONIC INDUSTRIES LTD.
EXPLANATORY NOTE
The following exhibits are attached:
| 99.1 | Press release: RADA Signs Agreement to Sell its CACS Subsidiary |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Rada Electronic Industries Ltd. | ||
| (Registrant) | ||
| By: | /s/ Dov Sella | |
| Dov Sella | ||
| Chief Executive Officer | ||
Date: December 26, 2018
EXHIBIT INDEX
| EXHIBIT NO. | DESCRIPTION | |
| 99.1 | Press release: RADA Signs Agreement to Sell its CACS Subsidiary |
EXHIBIT NO.99.1
RADA Signs Agreement to Sell its CACS Subsidiary
NETANYA, Israel, December 26, 2018 — RADA Electronic Industries Ltd. (NASDAQ: RADA) today announced that it has signed an agreement to sell its ownership interest in CACS, a Chinese company engaged in the maintenance of commercial aviation equipment. CACS is presented as a “Discontinued Operation” in RADA’s financial statements. CACS will be sold for approximately a $1.5 million cash consideration. This will result in a loss from a discontinued operation of approximately $1 million in the fourth quarter of 2018.
Dov Sella, RADA’s CEO, commented, “We are pleased to conclude our efforts to sell our interest in CACS, which has not been synergistic to our principal business for a number of years and was presented as a discontinued operation in our financial statements. We are satisfied with the conclusion of this transaction, bringing an additional $1.5 million to our cash balance and enabling us to give greater focus to our growing radar’s business.”
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.
Forward Looking Statements
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.
Company Contact: Avi Israel, CFO Tel: +972-9-892-1111 mrkt@rada.com www.rada.com |
Investor Relations Contact: Ehud Helft/Gavriel Frohwein GK Investor & Public Relations Tel: +1 646 688 3559 rada@gkir.com |