Kornit Announces Pricing of Secondary Public Offering of Ordinary Shares
May 16 2017 - 8:45AM
Kornit Digital Ltd. (NASDAQ:KRNT), a company that develops, designs
and markets innovative digital printing solutions for the global
printed textile industry, announced today the pricing of an
underwritten secondary public offering of 4,250,000 ordinary shares
by the company’s largest shareholder, Fortissimo Capital Fund II
(Israel) L.P. (“Fortissimo”) at a price to the public of $20.60 per
share. Fortissimo has also granted the underwriters a 30-day
option to purchase up to an additional 637,500 ordinary shares. The
company will not receive any of the proceeds from the sale of the
ordinary shares.
Barclays and Citigroup are acting as joint
bookrunners for this offering.
The offering is expected to close on May 19,
2017, subject to customary closing conditions.
The offering will be made only by means of a
prospectus supplement and the accompanying prospectus. 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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