Kornit Announces Public Offering of Ordinary Shares

The company says it will use the proceeds from this offering of stock for acquisitions and general corporate use.

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Israel-based textile printer manufacturer Kornit Digital launched an underwritten public offering of 4,340,000 ordinary shares at a price of $27.50 per share, and the company is granting the underwriters a 30-day option to purchase up to an additional 651,000 ordinary shares. The offer closed on June 18.

Kornit says it intends to put the proceeds from the offerings toward acquisitions, including complementary businesses, technologies or assets, and general corporate purposes, including working capital and capital expenditures. There are not any known acquisitions or agreements in the works at this time, the company says.

Citigroup, Goldman Sachs & Co., and Barclays acted as bookrunners and representatives of the underwriters for the offering, while Needham, Stifel, William Blair, and Craig Hallum acted as co-managers.

The offering of these securities is being made under an effective shelf registration statement on file with the Securities and Exchange Commission (SEC).

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Alexandria Bruce

Alexandria Bruce is the editor of the GRAPHICS PRO Daily, covering news and guidance in apparel decoration, awards and engraving, and sign and digital printing.

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