Kornit Digital Prices Public Offering at $119 Million
The Nasdaq-listed printer manufacturer will issue 11% of its stock at $27.5 per share, slightly under its Friday closing price of $28.39
Tzally Greenberg | 11:44 16.06.2019
Nasdaq-listed Kornit Digital Ltd. has announced on Thursday the pricing of its public offering. The company is looking to raise $119 million by offering 4,340,000 shares at $27.5 per share, slightly under its Friday closing price of $28.39, according to a post-offering valuation of $1.08 billion. The company has extended the underwriters, Citigroup, Goldman Sachs, and Barclays, a 30-day option to buy 651,000 additional shares, which could add another $17.9 million. The offering is expected to close on June 18, subject to customary closing conditions. Kornit stated it intends to use the proceeds for potential acquisitions and for general corporate purposes.