Brief

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

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.

 

Nasdaq. Photo: Shutterstock