Deal, with $12.56 million greenshoe, funds general corporate purposes
By Devika Patel
Knoxville, Tenn., May 25 - Orbotech Ltd. priced an $83.75 million public sale of stock with a $12.56 million greenshoe in a prospectus supplement filed Wednesday with the Securities and Exchange Commission.
The company will sell 6.7 million ordinary shares at $12.50 apiece. The price per share is a 3.03% discount to the May 24 closing share price of $12.89.
JPMorgan and Barclays Capital are the joint bookrunning managers; RBC Capital Markets is the senior manager, and Needham & Co., LLC and Oppenheimer & Co. are co-managers.
Settlement is expected May 31.
Proceeds will be used for general corporate purposes.
Based in Yavne, Israel, Orbotech develops yield-enhancing and production solutions for specialized applications in the supply chain of the electronics industry.
| Issuer: | Orbotech Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | $83.75 million
|
| Greenshoe: | $12,562,500
|
| Shares: | 6.7 million
|
| Price: | $12.50
|
| Warrants: | No
|
| Agents: | JPMorgan, Barclays Capital, RBC Capital Markets, Needham & Co., LLC and Oppenheimer & Co.
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Stock symbol: | Nasdaq: ORBK
|
| Stock price: | $12.43 at close May 25
|
| Market capitalization: | $437.9 million
|
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