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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sat., Sep. 19, 8:12 AM

Slide #11. Kornit Digital Ltd. Secondary Offering

Company: Kornit Digital Ltd. (NASDAQ:KRNT)
Date announced: 9/14/2020
Shares Offered: 4,078,210
Date of Pricing: 9/16/2020
Price Per Share: $56.50
Secondary Offering Details: Kornit Digital Ltd. (NASDAQ: KRNT) ("Kornit"), a company that develops, manufactures and markets industrial digital printing technologies for the garment, apparel and textile industries, today announced the launch of an underwritten public offering of 3,600,000 ordinary shares, 2,000,000 of which are being offered by Kornit and 1,600,000 of which are being offered by an affiliate of Amazon.com, Inc. ("Amazon"). Kornit will not receive any of the proceeds from the sale of shares being offered by Amazon. The shares being sold by an affiliate of Amazon are being issued pursuant to the exercise of a warrant granted to Amazon by Kornit. Kornit intends to grant the underwriters a 30-day option to purchase up to an additional 540,000 ordinary shares. -updated 9/16- Kornit Digital Ltd. (NASDAQ: KRNT) ("Kornit"), a company that develops, manufactures and markets industrial digital printing technologies for the garment, apparel and textile industries, today announced the pricing of an upsized underwritten public offering of 4,078,210 ordinary shares at a price to the public of $56.50 per share. Kornit is offering 2,388,268 ordinary shares and an affiliate of Amazon.com, Inc. ("Amazon") is offering 1,689,942 ordinary shares. Kornit will not receive any of the proceeds from the sale of shares being offered by Amazon. The shares being sold by an affiliate of Amazon are being issued pursuant to the exercise of a warrant granted to Amazon by Kornit. Kornit has also granted the underwriters a 30-day option to purchase up to an additional 611,731 ordinary shares at the public offering price. The offering is expected to close on September 21, 2020, subject to customary closing conditions.

Kornit Digital develops, designs and markets digital printing solutions for the global printed textile industry. Co. focuses on the high throughput, direct-to-garment (DTG) and Direct-to-Fabric segments of the printed textile industry. Co.'s solutions include its proprietary digital printing systems, ink and other consumables, associated software and other services that allow for printing of short runs of images and designs directly on finished garments and fabrics. Co.'s DTG systems utilize its patented wet-on-wet printing methodology that involves spraying a wetting solution on the fabric, which enables printing on a range of fabrics, including cotton, wool, polyester, lycra and denim.
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Company Name: 
Kornit Digital Ltd
Website: 
www.kornit.com
Sector: 
Industrial Machinery & Equipment
Number of ETFs Holding KRNT: 
11
Total Market Value Held by ETFs: 
$31.62M
Total Market Capitalization: 
$2.33B
% of Market Cap. Held by ETFs: 
1.36%
 

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Buy (3.00 out of 4)
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