Israel-based Kornit Digital Ltd, a maker of digital printing solutions for the printed textile industry, has priced its IPO of 7.1 million shares at $10 per share. The stock began trading Thursday on the NASDAQ under the ticker symbol “KRNT.” Barclays Capital Inc and Citigroup Global Markets Inc are the lead underwriters. Kornit Digital is backed by Fortissimo Capital.
ROSH-HA’AYIN, Israel, Apr 01, 2015 (GLOBE NEWSWIRE via COMTEX) –Kornit Digital Ltd., a company that develops, designs and markets innovative digital printing solutions for the global printed textile industry, today announced the pricing of its initial public offering of 7,100,000 ordinary shares at a price to the public of $10.00 per share. All of the shares are being offered by Kornit. In addition, Kornit has granted the underwriters a 30-day option to purchase up to an additional 1,065,000 ordinary shares to cover over-allotments, if any. The shares are expected to begin trading on the Nasdaq Global Market on April 2, 2015 under the ticker symbol “KRNT.”
Barclays Capital Inc. and Citigroup Global Markets Inc. are acting as joint book-running managers and as representatives of the underwriters in the offering. William Blair & Company, L.L.C., Stifel, Canaccord Genuity Inc. and Needham & Company, LLC are acting as co-managers in the offering.
The offering will be made only by means of a prospectus. A final prospectus for the offering, when available, may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 888 603-5847, or by emailing email@example.com; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by emailing firstname.lastname@example.org.
A registration statement relating to these securities was filed with, and declared effective by, the Securities and Exchange Commission. The registration statement can be accessed through the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Kornit develops, designs and markets innovative digital printing solutions for the global printed textile industry. Kornit’s solution includes its proprietary digital printing systems, ink and other consumables, associated software and value added services. Kornit’s vision is to revolutionize the textile industry by facilitating the transition from analog processes that have not evolved for decades to digital methods of production that address contemporary supply, demand and environmental dynamics. Kornit is a global company headquartered in Rosh-Ha`Ayin, Israel, with U.S. offices in Mequon, Wisconsin and additional sales, support and marketing offices in Germany and Hong Kong.