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Kornit Raises $137 Million in Public Offering

Intends to use proceeds for future potential acquisitions, including complementary businesses, technologies or assets, and for general corporate purposes.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Kornit Digital Ltd. announced the closing of its previously announced underwritten public offering of 4,340,000 ordinary shares at a price to the public of $27.50 per share. In connection with the offering, the underwriters exercised in full their option to purchase from Kornit an additional 651,000 ordinary shares.
 
In total, the public offering size was 4,991,000 ordinary shares and the gross proceeds were approximately $137.3 million, before deducting underwriting discounts and offering expenses.
 
Kornit intends to use the proceeds from the offering for future potential acquisitions, including complementary businesses, technologies or assets, and for general corporate purposes, including working capital and capital expenditures. Kornit has no agreements or understandings with respect to any acquisition or investment at this time.

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