Filing Details

Accession Number:
0001178913-21-002834
Form Type:
13D Filing
Publication Date:
2021-08-25 20:00:00
Filed By:
Davidi Ishay
Company:
Gilat Satellite Networks Ltd (NASDAQ:GILT)
Filing Date:
2021-08-26
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
FIMI Opportunity IV 1,610,164 1,610,164 1,610,164 2.8%
FIMI Israel Opportunity IV, Limited Partnership 3,082,961 3,082,961 3,082,961 5.5%
FIMI Opportunity V 3,044,023 3,044,023 3,044,023 5.4%
FIMI Israel Opportunity V, Limited Partnership 3,388,842 3,388,842 3,388,842 6.0%
FIMI IV 4,693,125 4,693,125 4,693,125 8.3%
FIMI FIVE 6,432,865 6,432,865 6,432,865 11.4%
Shira and Ishay Davidi Management Ltd 11,125,990 11,125,990 11,125,990 19.7%
Ishay Davidi 11,125,990 11,125,990 11,125,990 19.7%
Filing



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 11)*
 
Gilat Satellite Networks Ltd.

 (Name of Issuer)
 
Ordinary Shares, Par Value NIS 0.20 Per Share

(Title of Class of Securities)
 
 M51474118

(CUSIP Number)
 
 
FIMI IV 2007 Ltd.
Alon Towers 2,
94 Yigal Alon St.,
Tel-Aviv 6789141, Israel
 +(972)-3-565-2244
 

(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
 
August 25, 2021

(Date of Event which Requires Filing of this Statement)
 
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o.
 
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.
 
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
 
The information required on the remainder of this cover page shall not be deemed to be ”filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.
 
 
 
 
 
 CUSIP No. M51474118
 
 Page 2 of 12 Pages

1
NAME OF REPORTING PERSONS. 

FIMI Opportunity IV, L.P.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 
(a) ☒
(b) ☐
3
SEC USE ONLY 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
WC
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION 
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER
 
N/A
8
SHARED VOTING POWER 
 
1,610,164
9
SOLE DISPOSITIVE POWER 
 
N/A
10
SHARED DISPOSITIVE POWER 
 
1,610,164
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
 
1,610,164
12
CHECK IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 
 
2.8%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 
 
PN
 
 
 
 
 CUSIP No. M51474118
 
 Page 3 of 12 Pages

1
NAME OF REPORTING PERSONS. 

FIMI Israel Opportunity IV, Limited Partnership
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 
(a) ☒
(b) ☐
3
SEC USE ONLY 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
WC
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION 
 
Israel
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER
 
N/A
8
SHARED VOTING POWER 
 
3,082,961
9
SOLE DISPOSITIVE POWER 
 
N/A
10
SHARED DISPOSITIVE POWER 
 
3,082,961
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
 
3,082,961
12
CHECK IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 
 
5.5%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 
 
PN
 
 
 
 
 CUSIP No. M51474118
 
 Page 4 of 12 Pages

1
NAME OF REPORTING PERSONS. 

FIMI Opportunity V, L.P.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 
(a) ☒
(b) ☐
3
SEC USE ONLY 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
WC
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION 
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER
 
N/A
8
SHARED VOTING POWER 
 
3,044,023
9
SOLE DISPOSITIVE POWER 
 
N/A
10
SHARED DISPOSITIVE POWER 
 
3,044,023
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
 
 
3,044,023
12
CHECK IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 
 
5.4%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 
 
PN
 
 
 
 
 CUSIP No. M51474118
 
 Page 5 of 12 Pages

1
NAME OF REPORTING PERSONS. 

FIMI Israel Opportunity V, Limited Partnership
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 
(a) ☒
(b) ☐
3
SEC USE ONLY 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
WC
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION 
 
Israel
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER
 
N/A
8
SHARED VOTING POWER 
 
3,388,842
9
SOLE DISPOSITIVE POWER 
 
N/A
10
SHARED DISPOSITIVE POWER 
 
3,388,842
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
 
3,388,842
12
CHECK IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 
 
6.0%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 
 
PN
 
 
 
 
 CUSIP No. M51474118
 
 Page 6 of 12 Pages

1
NAME OF REPORTING PERSONS. 

FIMI IV 2007 Ltd.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 
(a) ☒
(b) ☐
3
SEC USE ONLY 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION 
 
Israel
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER
 
N/A
8
SHARED VOTING POWER 
 
4,693,125
9
SOLE DISPOSITIVE POWER 
 
N/A
10
SHARED DISPOSITIVE POWER 
 
4,693,125
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
 
4,693,125
12
CHECK IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 
 
8.3%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 
 
CO
 
 
 
 
 CUSIP No. M51474118
 
 Page 7 of 12 Pages

1
NAME OF REPORTING PERSONS. 

FIMI FIVE 2012 Ltd.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 
(a) ☒
(b) ☐
3
SEC USE ONLY 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION 
 
Israel
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER
 
N/A
8
SHARED VOTING POWER 
 
6,432,865
9
SOLE DISPOSITIVE POWER 
 
N/A
10
SHARED DISPOSITIVE POWER 
 
6,432,865
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
 
6,432,865
12
CHECK IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 
 
11.4%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 
 
CO
 
Page 7 of 12 Pages

 
 CUSIP No. M51474118
 
 Page 8 of 12 Pages

1
NAME OF REPORTING PERSONS. 

Shira and Ishay Davidi Management Ltd.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 
(a) ☒
(b) ☐
3
SEC USE ONLY 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION 
 
Israel
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER
 
N/A
8
SHARED VOTING POWER 
 
11,125,990
9
SOLE DISPOSITIVE POWER 
 
N/A
10
SHARED DISPOSITIVE POWER 
 
11,125,990
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
 
11,125,990
12
CHECK IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 
 
19.7%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 
 
CO
 
 
 CUSIP No. M51474118
 
 Page 9 of 12 Pages

 
 
1
NAME OF REPORTING PERSONS. 

Ishay Davidi
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 
(a) ☒
(b) ☐
3
SEC USE ONLY 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
OO
5
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION 
 
Israel
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER
 
N/A
8
SHARED VOTING POWER 
 
11,125,990
9
SOLE DISPOSITIVE POWER 
 
N/A
10
SHARED DISPOSITIVE POWER 
 
11,125,990
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 
 
11,125,990
12
CHECK IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 
 
19.7%
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 
 
IN
 
 
 
The undersigned, FIMI Opportunity IV, L.P. (“FIMI Opportunity IV”), FIMI Israel Opportunity IV, Limited Partnership (“FIMI Israel Opportunity IV”), FIMI Opportunity V, L.P. (“FIMI Opportunity V”),  FIMI Israel Opportunity Five, Limited Partnership (“FIMI Israel Opportunity V” and together with FIMI Opportunity IV, FIMI Israel Opportunity IV and  FIMI Opportunity V, the “FIMI Funds”), FIMI IV 2007 Ltd., FIMI FIVE 2012 Ltd., Shira and Ishay Davidi Management Ltd. and Mr. Ishay Davidi (together, the “Reporting Persons”), hereby file this Amendment No. 11 to Schedule 13D (the “Amendment”), which amends the Schedule 13D originally filed on September 17, 2012, Amendment No. 1 to Schedule 13D originally filed on November 13, 2012, Amendment No. 2 to Schedule 13D originally filed on November 15, 2012, Amendment No. 3 to Schedule 13D originally filed on February 4, 2014, Amendment No. 4 to Schedule 13D originally filed on September 17, 2014, Amendment No. 5 to Schedule 13D originally filed on November 29, 2014, Amendment No. 6 to Schedule 13D originally filed on April 7, 2016, Amendment No. 7 to Schedule 13D originally filed on July 11, 2019, Amendment No. 8 to Schedule 13D originally filed on January 30, 2020, Amendment No. 9 to Schedule 13D originally filed on February 22, 2021 Amendment No. 10 to Schedule 13D originally filed on June 23, 2021 by the Reporting Persons with the Securities and Exchange Commission (the “SEC”), with respect to the Ordinary Shares, par value NIS 0.20 per share (the “Ordinary Shares”), of Gilat Satellite Networks Ltd., an Israeli company (“Gilat”).  The Amendment amends and supplements Items 4 and 5 of the Schedule 13D.

Item 4.
Purpose of Transaction
Item 4 of the Schedule 13D is hereby amended and supplemented as follows:

On August 25, 2021, the FIMI Funds sold an aggregate of 3,612,510 Ordinary Shares at a price per share of $9.70, or an aggregate sale price of $35.0 million.  The sale of the Ordinary Shares was effected in a transaction with a market maker in reliance on Rule 144 under the Securities Act of 1933.

Item 5.
Interest in Securities of the Issuer
Item 5 of the Schedule 13D is hereby amended and restated as follows:

(a)          The calculations included herein are based on a total of 56,506,561 Ordinary Shares outstanding as of April 9, 2021, as reported by Gilat on Form 6-K filed with the SEC on April 13, 2021.
 
As of August 26, 2021, FIMI Opportunity IV directly beneficially owns 1,610,164 Ordinary Shares, representing approximately 2.8% of the Ordinary Shares.
 
As of August 26, 2021, FIMI Israel Opportunity IV directly beneficially owns 3,082,961 Ordinary Shares, representing approximately 5.5% of the Ordinary Shares.
 
As of August 26, 2021, FIMI Opportunity V directly beneficially owns 3,044,023 Ordinary Shares, representing approximately 5.4% of the Ordinary Shares.
 
As of August 26, 2021, FIMI Israel Opportunity V directly beneficially owns 3,388,842 Ordinary Shares, representing approximately 6.0% of the Ordinary Shares.
 
(b)          As of August 26, 2021, FIMI Opportunity IV shares the power to vote and dispose of, the 1,610,164 Ordinary Shares it directly beneficially owns.
 
As of August 26, 2021, FIMI Israel Opportunity IV shares the power to vote and dispose of, the 3,082,961 Ordinary Shares it directly beneficially owns.
 
As of August 26, 2021, FIMI Opportunity V shares the power to vote and dispose of, the 3,044,023  Ordinary Shares it directly beneficially owns.
 
As of August 26, 2021, FIMI Israel Opportunity V shares the power to vote and dispose of, the 3,388,842 Ordinary Shares it directly beneficially owns.
 
As of August 26, 2021, FIMI IV 2007 Ltd. shares the power to vote and dispose of, the 4,693,125 Ordinary Shares beneficially owned by FIMI Opportunity IV and FIMI Israel Opportunity IV.
 
As of August 26, 2021, FIMI FIVE 2012 Ltd. shares the power to vote and dispose of, the 6,432,865 Ordinary Shares beneficially owned by FIMI Opportunity V and FIMI Israel Opportunity V.
 
As of August 26, 2021, Shira and Ishay Davidi Management Ltd. and Mr. Ishay Davidi share the power to vote and dispose of, the 11,125,990 Ordinary Shares beneficially owned by the Reporting Persons.
 
(c)          Except as set forth in Item 4 and in Schedule A hereto, no transactions in the Ordinary Shares have been effected by the Reporting Persons during the past 60 days.
 
(d)          None.
 
(e)          Not applicable.
 
Page 10 of 12 Pages

Signatures

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 
August 26, 2021
FIMI Opportunity IV, L.P.
By: FIMI IV 2007 Ltd., managing general partner
 
By:    /S/ ISHAY DAVIDI
         Ishay Davidi, CEO
   
 
FIMI Israel Opportunity IV, Limited Partnership
By: FIMI IV 2007 Ltd., managing general partner
 
By:    /S/ ISHAY DAVIDI
         Ishay Davidi, CEO
   
 
FIMI Opportunity V, L.P.
By: FIMI FIVE 2012 Ltd., managing general partner
 
By:    /S/ ISHAY DAVIDI
         Ishay Davidi, CEO
   
 
FIMI Israel Opportunity Five, Limited Partnership
By: FIMI FIVE 2012 Ltd., managing general partner
 
By:    /S/ ISHAY DAVIDI
         Ishay Davidi, CEO
   
 
FIMI IV 2007 Ltd.
 
By:    /S/ ISHAY DAVIDI
         Ishay Davidi, CEO
 
FIMI FIVE 2012 Ltd.
 
By:    /S/ ISHAY DAVIDI
         Ishay Davidi, CEO
 
Shira and Ishay Davidi Management Ltd.
 
By:    /S/ ISHAY DAVIDI
         Ishay Davidi, CEO
 
 
/S/ ISHAY DAVIDI
Ishay Davidi
 

Page 11 of 12 Pages

Schedule A

FIMI Opportunity IV, L.P.

Nature of Transaction
Date of Transaction
Number of Shares
Price per Share
Sale of Ordinary Shares
July 29, 2021
11,699
$10.52
Sale of Ordinary Shares
July 30, 2021
1,528
$10.55
Sale of Ordinary Shares
August 2, 2021
4,176
$10.56
Sale of Ordinary Shares
August 6, 2021
409
$10.55
Sale of Ordinary Shares
August 9, 2021
2,212
$10.59
Sale of Ordinary Shares
August 10, 2021
1,968
$10.61
Sale of Ordinary Shares
August 11, 2021
275
$10.60

FIMI Israel Opportunity IV, Limited Partnership

Nature of Transaction
Date of Transaction
Number of Shares
Price per Share
Sale of Ordinary Shares
July 29, 2021
22,402
$10.52
Sale of Ordinary Shares
July 30, 2021
2,925
$10.55
Sale of Ordinary Shares
August 2, 2021
7,997
$10.56
Sale of Ordinary Shares
August 6, 2021
783
$10.55
Sale of Ordinary Shares
August 9, 2021
4,236
$10.59
Sale of Ordinary Shares
August 10, 2021
3,769
$10.61
Sale of Ordinary Shares
August 11, 2021
526
$10.60

FIMI Opportunity V, L.P.

Nature of Transaction
Date of Transaction
Number of Shares
Price per Share
Sale of Ordinary Shares
July 29, 2021
24,393
$10.52
Sale of Ordinary Shares
July 30, 2021
3,185
$10.55
Sale of Ordinary Shares
August 2, 2021
8,708
$10.56
Sale of Ordinary Shares
August 6, 2021
853
$10.55
Sale of Ordinary Shares
August 9, 2021
4,612
$10.59
Sale of Ordinary Shares
August 10, 2021
4,104
$10.61
Sale of Ordinary Shares
August 11, 2021
573
$10.60

FIMI Israel Opportunity Five, Limited Partnership

Nature of Transaction
Date of Transaction
Number of Shares
Price per Share
Sale of Ordinary Shares
July 29, 2021
27,338
$10.52
Sale of Ordinary Shares
July 30, 2021
3,569
$10.55
Sale of Ordinary Shares
August 2, 2021
9,758
$10.56
Sale of Ordinary Shares
August 6, 2021
955
$10.55
Sale of Ordinary Shares
August 9, 2021
5,169
$10.59
Sale of Ordinary Shares
August 10, 2021
4,600
$10.61
Sale of Ordinary Shares
August 11, 2021
643
$10.60

Page 12 of 12 Pages