Elbit Systems Secures $16M Contract To Supply Space Telescope

• Elbit Systems Ltd (NASDAQ:ESLT) has secured a contract worth ~$16 million to supply a space telescope to the Weizmann Institute of Science under Israel's Ultraviolet Transient Astronomy Satellite (ULTRASAT) program to observe and research deep space.
• The contract will be performed over a period of two years.
• The ULTRASAT program is jointly managed and funded by the Weizmann Institute of Science and the Israeli Space Agency.
• Elbit Systems will develop, manufacture, and integrate a highly sensitive, wide field of view ultraviolet space telescope to help scientists understand the creation of heavy elements, black holes, and gravitational waves and discover astronomical phenomena.
• Price Action: ESLT shares closed lower by 1.68% at $163.71 on Tuesday.