Kornit Announces Pricing of Upsized Public Offering of Ordinary Shares
January 25 2017 - 9:59PM
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 pricing of a public
offering of 7,500,000 ordinary shares at a price to the public of
$16.50 per share. The offering was upsized from the previously
announced public offering of 7,000,000 ordinary shares. Of the
7,500,000 ordinary shares, 2,000,000 shares are being offered by
Kornit and 5,500,000 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 1,125,000 shares at
the public offering price. The offering is expected to close on or
about January 31, 2017, subject to customary closing conditions.
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 public offering of its ordinary
shares. A final prospectus supplement and accompanying prospectus
relating to the offering will be filed with the SEC. The offering
will be made only by means of a prospectus supplement and the
accompanying prospectus. When available, a copy of the final
prospectus supplement relating to the offering and accompanying
prospectus may be obtained from Barclays, 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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