Benzinga | Nov 18, 2020 05:23AM EST

Camtek Announced 3M Share Public Offering

Camtek Ltd. (NASDAQ:CAMT) announced today the commencement of a proposed underwritten public offering of three million ordinary shares. Camtek intends to grant the underwriters a 30-day option to purchase up to an additional 15% of its ordinary shares offered in the public offering. All of the shares in the proposed offering are to be sold by Camtek.

Camtek intends to use the net proceeds from the offering for general corporate purposes, including, but not limited to, potential acquisitions, working capital, capital expenditures, investments, research and development and product development. Camtek has not determined the amount of net proceeds to be used specifically for the foregoing purposes and has no agreements or understandings with respect to any acquisition or investment at this time.

Barclays and Stifel are acting as the representatives of the underwriters and as joint book-running managers for the proposed offering.