Business brief
Defense Backlogs and Public Capital
Israeli defense primes and deep-tech hardware suppliers turn to public markets and European buyers to finance unprecedented factory scale.
Business
European defense ministries are turning to Israeli precision rocket artillery — establishing Elbit as a formidable primary competitor to American defense primes across NATO.
BackgroundEuropean defense ministries are aggressively modernizing ground artillery following the war in Ukraine, prioritizing precision-guided missile launchers over unguided shells. Elbit's PULS platform competes directly with American-made HIMARS systems.
- The 3-year procurement agreement includes PULS multi-caliber mobile rocket launchers alongside EXTRA-MR precision supersonic missiles capable of striking targets up to 80 km away.
- Arranged directly between Israel's Ministry of Defense and the purchasing European state, the deal follows major deliveries to Germany, the Netherlands, and Denmark.
- Shares of Elbit advanced over 3% on the Tel Aviv Stock Exchange as total corporate order books hovered near record highs of $32 billion.
Business
Civan Lasers is listing on the Tel Aviv exchange to capitalize on global demand for directed-energy weapons — turning Iron Beam's core laser technology into a public asset.
BackgroundCivan Lasers developed dynamic beam lasers that allow real-time optical steering for precision industrial welding and directed-energy military defense. The firm supplies critical optical hardware for the Israeli Ministry of Defense's Iron Beam laser interception system.
- Civan plans to raise ₪250 million to ₪350 million from institutional investors, supported by secondary offerings from the Elah Fund and First Manhattan.
- Founded by serial entrepreneur Dr. Eyal Shekel, the company builds high-power fiber laser sources utilized across industrial manufacturing and tactical air defense.
- The planned public listing represents a rare deep-tech primary offering on the TASE floor, capitalizing on massive global investor interest in directed-energy defense.
Business
Israel's classified missile engine manufacturer is tapping public debt markets for the first time — financing factory expansions to meet unprecedented ballistic interceptor consumption.
BackgroundTomer was carved out as a state-owned defense enterprise during the privatization of IMI Systems to protect sovereign rocket propulsion technology. Surging global and domestic demand for missile interceptors has rapidly scaled the company's manufacturing volume.
- Tomer registered ₪850 million ($275 million) in sales during the first three quarters of 2026, targeting ₪1.8 billion in annual revenue by 2030.
- The planned debt issuance provides independent institutional capital to fund plant expansions without relying exclusively on direct Ministry of Finance state allocations.
- The enterprise manufactures the primary propulsion stages for the Arrow-3 and Arrow-4 missile defense shields safeguarding Israeli airspace from ballistic strikes.
Business
Gauzy cleared away $61M in bad debts through an insider-led placement — buying time to stabilize automotive smart-glass production without facing formal bankruptcy.
BackgroundGauzy develops liquid crystal and SPD light-control glass for automotive and architectural applications, listing on Nasdaq under ticker GAUZ. Severe liquidity challenges forced the Israeli manufacturer into debt rehabilitation proceedings under domestic insolvency statutes.
- The Tel Aviv-Jaffa District Court approved the debt arrangement after securing 98.96% consent across institutional creditors and debenture holders.
- The company issued 2.38 million ordinary shares at $2.9371 per share alongside trustee allocations to discharge pending corporate liabilities.
- Management stated the capital restructuring protects operational manufacturing facilities in Israel and Europe while maintaining client delivery schedules.
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