# EDGAR Filing Document

**Accession Number:** 0000897322
**File Stem:** 0001178913-25-003219
**Filing Date:** 2025-9
**Character Count:** 21485
**Document Hash:** 3d0fa8e0a4e7ee5ea1891c075ec41c43
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001178913-25-003219.hdr.sgml**: 20250903

**ACCESSION NUMBER**: 0001178913-25-003219

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20250903

**DATE AS OF CHANGE**: 20250903

**EFFECTIVENESS DATE**: 20250903

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GILAT SATELLITE NETWORKS LTD
- **CENTRAL INDEX KEY:** 0000897322
- **STANDARD INDUSTRIAL CLASSIFICATION:** RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-290006
- **FILM NUMBER:** 251289002

**BUSINESS ADDRESS:**
- **STREET 1:** C/O GILAT SATELLITE NETWORKS INC
- **STREET 2:** 1651 OLD MEADOW RD
- **CITY:** MCLEAN
- **STATE:** VA
- **ZIP:** 22102
- **BUSINESS PHONE:** 7037349401

**MAIL ADDRESS:**
- **STREET 1:** GILAT HOUSE YEGIA KAPAYIM STREET
- **STREET 2:** DANIV PARK
- **CITY:** KIRYAT ARYE PETAH TI
- **STATE:** L3
- **ZIP:** 00000

Registration No. 333-_____

As filed with the Securities and Exchange Commission on September 3, 2025<br>

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### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

### FORM S-8

#### REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

### GILAT SATELLITE NETWORKS LTD.
(Exact name of registrant as specified in its charter)

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| | |
|:---|:---|
| **Israel** | **Not Applicable** |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| **Gilat House**<br> **21 Yegia Kapayim Street, Kiryat Arye**<br> **Petah Tikva 4913020, Israel** | **Gilat House**<br> **21 Yegia Kapayim Street, Kiryat Arye**<br> **Petah Tikva 4913020, Israel** |
| (Address of Principal Executive Offices) (Zip Code) | (Address of Principal Executive Offices) (Zip Code) |

---

#### GILAT SATELLITE NETWORKS LTD. 2008 SHARE INCENTIVE PLAN
(Full title of the plans)

---

| | | |
|:---|:---|:---|
| **Wavestream Corporation**<br> **545 W. Terrace Dr**<br> **San Dimas, CA 91773** | **Wavestream Corporation**<br> **545 W. Terrace Dr**<br> **San Dimas, CA 91773** | **Wavestream Corporation**<br> **545 W. Terrace Dr**<br> **San Dimas, CA 91773** |
|  (Name and address of agent for service) | (Name and address of agent for service) | (Name and address of agent for service) |
| **909-599-9080** | **909-599-9080** | **909-599-9080** |
|  (Telephone number, including area code, of agent for service) | (Telephone number, including area code, of agent for service) | (Telephone number, including area code, of agent for service) |
|  **Copies to:** | **Copies to:** | **Copies to:** |
|  Steven J. Glusband, Esq.<br> Carter Ledyard & Milburn LLP<br> 2 Wall Street<br> New York, NY 10005<br> Tel: 212-238-8605<br>| Doron Kerbel, Adv.<br> General Counsel and Corporate Secretary<br> Gilat Satellite Networks Ltd.<br> Gilat House<br> 21 Yegia Kapayim Street<br> Kiryat Arye<br> Petah Tikva 4913020, Israel<br> Tel: 972-3-925-2000 | Tuvia J. Geffen, Adv.<br> Naschitz, Brandes, Amir & Co.<br> 5 Tuval Street<br> Tel-Aviv 6789717, Israel<br> Tel: 972 3-623-5000<br>|

---

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☒ |
| Non-accelerated filer | ☐ (Do not check if a smaller reporting company) | Smaller reporting company | ☐ |
|  |  | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

___________________________

#### This Registration Statement shall become effective immediately upon filing as provided in Rule 462 under the Securities Act of 1933.

------

#### EXPLANATORY NOTE
The purpose of this Registration Statement on Form S-8 is to register an additional 2,836,205 Ordinary Shares for issuance under the 2008 Plan.

In accordance with General Instruction E of Form S-8, the contents of the Registrant's Registration Statements on Form S-8 (Files No. 333-180552, 333-187021, 333-204867, 333-210820, 333-217022, 333-221546, 333-223839, 333-231442, 333-236028, 333-253972, 333-255740, 333-264974, 333-278082 and 333-286156) filed with the Securities and Exchange Commission on April 4, 2012, on March 4, 2013, on June 11, 2015, on April 19, 2016, on March 30, 2017, on November 14, 2017, on March 22, 2018, on May 14, 2019, on January 23, 2020, on March 8, 2021, on May 4, 2021, on May 16, 2022, on March 20, 2024 and on March 27, 2025, respectively, are incorporated herein by reference and the information required by Part II is omitted, except to the extent superseded hereby or supplemented by the information set forth below.

#### PART I

#### INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information required in Part I of this Registration Statement have been or will be sent or given to participating employees as specified in Rule 428(b)(1) under the Securities Act, in accordance with the rules and regulations of the United States Securities and Exchange Commission, or the Commission. Such documents are not being filed with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. These documents and the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

#### PART II

#### INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

#### ITEM 3. Incorporation of Documents by reference.
The Registrant hereby incorporates by reference the following documents:

<br> (a) The Registrant's Annual Report on Form 20-F for the year ended December 31, 2024;<br>

<br> (b) The description of our ordinary shares contained in our Annual Report on Form 20-F for the year ended December 31, 2024; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Registrant's 6-K dated August 28, 2025.

In addition, all documents subsequently filed by the Registrant pursuant to Section 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") (prior to filing of a post-effective amendment which indicates that all securities offered have been sold or that deregisters all securities then remaining unsold) shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for the purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement.

------

#### Item 8. EXHIBITS.
<br> 4.1 Memorandum of Association, as amended <sup>(1)</sup>

---

| | |
|:---|:---|
| [4.2](https://www.sec.gov/Archives/edgar/data/897322/000117891312000953/exhibit_1-2.htm) | [Articles of Association, as amended and restated <sup>(2)</sup>](https://www.sec.gov/Archives/edgar/data/897322/000117891312000953/exhibit_1-2.htm) |

---

<br> 4.3 Gilat Satellite Networks Ltd. 2008 Share Incentive Plan (including the Israeli Sub-plan to the Gilat Satellite Networks Ltd. 2008 Share Incentive Plan), as amended

<br> [5](exhibit_5.htm) [Opinion of Naschitz, Brandes, Amir & Co., Advocates](exhibit_5.htm)

<br> [23.1](exhibit_5.htm) [Consent of Naschitz, Brandes, Amir & Co., Advocates (included in Exhibit 5)](exhibit_5.htm)

<br> [23.2](exhibit_23-2.htm) [Consent of Kost Forer Gabbay & Kasierer, a Member of Ernst & Young Global, our independent registered public accounting firm](exhibit_23-2.htm)

---

| | |
|:---|:---|
| [24](#POWERSOFATTORNEY) | [Power of Attorney (included as part of this Registration Statement)](#POWERSOFATTORNEY) |

---

---

| | |
|:---|:---|
| [107.1](#POWERSOFATTORNEY) | [Calculation of Registration Fee](#POWERSOFATTORNEY) |

---

------

<br> (1) Filed as Exhibit 1.1 to the Registrant's Annual Report on Form 20-F for the year ended December 31, 2000, and incorporated herein by reference.

<br> (2) Filed as Exhibit 1.2 to the Registrant's Annual Report on Form 20-F for the year ended December 31, 2011, and incorporated herein by reference.

------

#### SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Petah Tikva, Israel on September 3, 2025.

By: <u>/s/</u> <u>Amiram Boehm</u><br> Amiram Boehm<br> Chairman of the Board<br>

#### POWERS OF ATTORNEY
Each person whose signature appears below constitutes and appoints Amiram Boehm, Adi Sfadia and Gil Benyamini, and each of them severally, his or her true and lawful attorney-in-fact, and agent each with power to act with or without the other, and with full power of substitution and resubstitution, to execute in the name of such person, in his capacity as a director or officer of Gilat Satellite Networks Ltd., any and all amendments to this Registration Statement on Form S-8 and all instruments necessary or incidental in connection therewith, and to file the same with the Securities and Exchange Commission, hereby ratifying and confirming all that each of said attorneys-in-fact, or their substitutes, may do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, the Registration Statement has been signed by the following persons in the capacities indicated on September 3, 2025.

---

| | |
|:---|:---|
| **<u>Signature</u>** | **<u>Title</u>**<br>|
| <u>/s/ Amiram Boehm</u><br> Amiram Boehm | Chairman of the Board of Directors<br>|
| <u>/s/ Adi Sfadia</u><br> Adi Sfadia | Chief Executive Officer (*Principal Executive Officer*)<br>|
| <br> <u>/s/ Gil Benyamini</u><br> Gil Benyamini | <br> Chief Financial Officer (*Principal Financial and Accounting Officer*) |
| <u>/s/ Ami Shafran</u><br> Ami Shafran<br>| Director |
| <u>/s/ Amir Ofek</u><br> Amir Ofek | Director<br>|
| <u>/s/ Aylon (Lonny) Rafaeli</u><br> Aylon (Lonny) Rafaeli | Director<br>|
| <u>/s/ Elyezer Shkedy</u><br> Elyezer Shkedy<br>| Director |
| <u>/s/ Dafna Sharir</u><br> Dafna Sharir<br>| Director |
| <u>/s/ Hilla Haddad Chemlnik</u><br> Hilla Haddad Chemlnik<br>| Director |
| <u>/s/ Dana Porter Rubinshtein</u><br> Dana Porter Rubinshtein | Director |
| <br> Wavestream Corporation<br>By: <u>/s/ Adi Sfadia</u><br> Name: Adi Sfadia, Officer | <br> Authorized Representative in the United States |

---

------

## Ex-5

#### Exhibit 5
![](image0.jpg)

Tel-Aviv, September 3, 2025

Gilat Satellite Networks Ltd.

Gilat House

21 Yegia Kapayim Street

Kiryat Arye

Petah Tikva 4913020, Israel

Ladies and Gentlemen:

We refer to the Registration Statement on Form S-8 (the "Registration Statement") to be filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended, on behalf of Gilat Satellite Networks Ltd., a company organized under the laws of the State of Israel (the "Company"), relating to 2,836,205 of the Company's Ordinary Shares, par value NIS 0.20 per share (the "Shares"), issuable under the Company's 2008 Share Incentive Plan, as amended (the "Plan").

As Israeli counsel to the Company, we have examined such corporate records, certificates and other documents, and such questions of law, as we have considered necessary or appropriate for the purpose of our opinion. Upon the basis of such examination, we are of the opinion that, the Shares, when issued and sold pursuant to the terms of the Plan and the grants thereunder, will be legally and validly issued, fully paid and non-assessable.

The opinion expressed herein is limited to Israeli law, and we do not express any opinion as to the laws of any other jurisdiction.

We consent to the filing of this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended.

Very truly yours,<br>/s/ Naschitz, Brandes, Amir & Co., Advocates<br> Naschitz, Brandes, Amir & Co., Advocates<br>

------

## Exhibit 23.2

#### Exhibit 23.2

#### CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the 2008 Share Incentive Plan of Gilat Satellite Networks Ltd. of our reports dated March 27, 2025 (except for the change in segment reporting disclosed in Notes 1(f), 7, and 15, as to which the date is August 28, 2025), with respect to the consolidated financial statements of Gilat Satellite Networks Ltd. and the effectiveness of internal control over financial reporting of Gilat Satellite Networks Ltd. included in Gilat Satellite Networks Ltd.'s Current Report (Form 6-K) dated August 28, 2025, filed with the Securities and Exchange Commission.

<u>/s/</u> <u>KOST FORER, GABBAY & KASIERER</u><br> KOST FORER, GABBAY & KASIERER<br> A Member of Ernst & Young Global<br>

Tel-Aviv, Israel

September 3, 2025

------

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

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|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **GILAT SATELLITE NETWORKS LTD**  |

---

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | Ordinary shares, par value NIS 0.20 per share | Other | 2836205 | $9.38 | $26603602.90 | 0.0001531 | $4073.01 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $26603602.90  |  | $4073.01  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $4073.01  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> (1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement shall also cover any additional ordinary shares of the Registrant that become issuable under the Registrant's 2008 Share Incentive Plan, as amended (the "Plan") by reason of any share dividend, share split, recapitalization or similar transaction effected without the Registrant's receipt of consideration that would increase the number of outstanding ordinary shares. (b) Represents the additional 2,836,205 ordinary shares issuable under the Plan. (c) Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h) and Rule 457(c) promulgated under the Securities Act based on the average of the high ($9.50) and low ($9.26) prices of the ordinary shares on The Nasdaq Stock Market LLC on August 29, 2025 (1) The aggregate maximum offering price of all securities issued or issuable by Gilat Satellite Networks Ltd. (the "Registrant") that are registered pursuant to this Registration Statement shall not exceed $150,000,000. The proposed maximum aggregate offering price is estimated solely for the purpose of computing the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the "Securities Act"). (2) Units may consist of one or more shares of ordinary shares, warrants, debt securities or subscription rights issued by the Registrant, other property, or any combination thereof. (3) Pursuant to Rule 415(a)(6) under the Securities Act, the Registrant is registering hereby $150,000,000 of unsold securities (the "Unsold Securities") previously registered under the Registrant's prior Registration Statement on Form F-3 (File No. 333-266044) filed on July 7, 2022 (the "Prior Registration Statement"). The registration fee of $13,905 relating to the Unsold Securities, which the Registrant previously paid (including through fee offset), will continue to be applied to those Unsold Securities pursuant to Rule 415(a)(6), and except as set forth herein no additional registration fee is being paid as to those Unsold Securities. Pursuant to Rule 415(a)(6), the offering of such Unsold Securities under the Prior Registration Statement will be deemed terminated as of the date of effectiveness of this Registration Statement. In addition to Unsold Securities being carried forward from the Prior Registration Statement, the Registrant is also paying a registration fee of $9,060 due to the difference between the fee rate that applied to the Prior Registration Statement and the fee rate that applies to this Registration Statement. (4) Pursuant to Rule 415(a)(5) under the Securities Act, the Registrant may continue to offer and sell Unsold Securities under the Prior Registration Statement until the earlier of (i) the date on which this Registration Statement is declared effective by the U.S. Securities and Exchange Commission, and (ii) January 14, 2026, which is 180 days after the third-year anniversary of the effective date of the Prior Registration Statement (the "Expiration Date"). Pursuant to Rule 415(a)(6) under the Securities Act, if on or prior to the Expiration Date the Registrant sells Unsold Securities under the Prior Registration Statement, the Registrant shall file a pre-effective amendment to this Registration Statement to update the amount of Unsold Securities which are being registered under this Registration Statement, and upon effectiveness of this Registration Statement may continue to offer and sell such Unsold Securities under this Registration Statement.

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| | |
|:---|:---|
| | |
| **Rule 457(p)** | **Rule 457(p)** |
| Fee Offset Claims | N/A |
| Fee Offset Sources | N/A |

---