Kornit Announces Launch of Public Offering of Ordinary Shares
January 23 2017 - 6:30AM
Kornit Digital Ltd. (NASDAQ:KRNT), a company that develops, designs
and markets innovative digital printing solutions for the global
printed textile industry, today announced the launch of a public
offering of 7,000,000 ordinary shares. 2,000,000 of the shares are
being offered by Kornit and 5,000,000 of the shares are being
offered by shareholders of the company, substantially all by the
company’s largest shareholder, Fortissimo Capital Fund II (Israel)
L.P. Kornit and the selling shareholders have also granted the
underwriters a 30-day option to purchase up to an additional
1,050,000 shares. Kornit intends to use the proceeds from the
offering for general corporate purposes. The Company will not
receive any of the proceeds from the sale of shares being offered
by the selling shareholders.
Barclays and Citigroup are acting as joint book-running managers
and as representatives of the underwriters in the offering. William
Blair, Stifel, Canaccord Genuity and Needham & Company are
acting as co-managers in the offering.
Kornit has filed a preliminary prospectus supplement to its
shelf registration statement on Form F-3 with the U.S. Securities
and Exchange Commission for the proposed offering of its ordinary
shares. The offering will be made only by means of a prospectus
supplement and the accompanying prospectus. When available, a copy
of the preliminary prospectus supplement relating to the offering
and accompanying prospectus may be obtained from Barclays Capital
Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, Telephone: 888 603-5847, or by emailing
barclaysprospectus@broadridge.com; or Citigroup c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717 (tel: 800-831-9146).
The offering of these securities is being made under an
effective shelf registration statement on file with the U.S.
Securities and Exchange Commission. The registration
statement can be accessed through the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor may there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Kornit Digital
Kornit Digital (NASDAQ:KRNT) develops, manufactures and markets
industrial digital printing technologies for the garment, apparel
and textile industries. Kornit delivers complete solutions,
including digital printing systems, inks, consumables, software and
after-sales support. Leading the digital direct-to-garment printing
market with its exclusive eco-friendly NeoPigment printing process,
Kornit caters directly to the changing needs of the textile
printing value chain. Kornit’s technology enables innovative
business models based on web-to-print, on-demand and mass
customization concepts. With its immense experience in the
direct-to-garment market, Kornit also offers a revolutionary
approach to the roll-to-roll textile printing industry: digitally
printing with a single ink set onto multiple types of fabric with
no additional finishing processes. Founded in 2003, Kornit Digital
is a global company, headquartered in Israel with offices in the
USA, Europe and Asia Pacific, and serves customers in more than 100
countries worldwide.
Investor Contact:
Michael Callahan, ICR
(203) 682-8311
Michael.Callahan@icrinc.com
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