Orbotech Ltd. Announces Pricing of Its Public Offering of Ordinary Shares
24 Maio 2011 - 8:53PM
Business Wire
ORBOTECH LTD. (the “Company”) (NASDAQ/GSM SYMBOL: ORBK)
announced today that its public offering of 6,700,000 ordinary
shares (the “Offering”) was priced at $12.50 per share. The
gross proceeds from the Offering before the underwriting discount
and other Offering expenses are expected to be approximately
$83,750,000. The Company has also granted the underwriters a 30-day
option to purchase up to 1,005,000 additional ordinary shares to
cover over-allotments, if any.
The Company plans to use the net proceeds of the Offering for
general corporate purposes.
J.P. Morgan Securities LLC and Barclays Capital Inc. are acting
as joint book-running managers; RBC Capital Markets, LLC is acting
as senior co-manager; and Needham & Company, LLC and
Oppenheimer & Co. Inc. are acting as co-managers of the
Offering, which is being made under an effective shelf registration
statement.
The Offering is being made only by means of a prospectus
supplement and accompanying base prospectus. A preliminary
prospectus supplement and accompanying base prospectus relating to
the Offering has been filed with the Securities and Exchange
Commission (“SEC”) and is available at the SEC’s website at
http://www.sec.gov. When available,
the final prospectus supplement and accompanying base prospectus
relating to the Offering may be obtained from J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, toll-free (866) 803-9204 or
Barclays Capital Inc. at Prospectus Department, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
email: barclaysprospectus@broadridge.com, toll-free
(888) 603-5847.
This release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Orbotech Ltd.
Orbotech Ltd. (NASDAQ/GSM: ORBK) has been at the cutting edge of
the electronics industry supply chain, as an innovator of enabling
technologies used in the manufacture of the world’s most
sophisticated consumer and industrial products, for over 30 years.
The Company is a leading provider of yield-enhancing and production
solutions, primarily for manufacturers of printed circuit boards
and flat panel displays; and today, virtually every electronic
device is produced using Orbotech technology. The Company also
applies its core expertise and resources in other advanced
technology areas, including character recognition for check and
forms processing and solar photovoltaic manufacturing.
Headquartered in Israel and operating from multiple locations
internationally, Orbotech’s highly talented and inter-disciplinary
professionals design, manufacture, sell and service the Company’s
end-to-end portfolio of solutions for the benefit of customers the
world over. For more information visit www.orbotech.com.
Forward-Looking
Statements
Except for historical information, the matters discussed in this
release are forward-looking statements within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995. These
statements relate to, among other things, future prospects,
developments and business strategies and involve certain risks and
uncertainties. The words “anticipate,” “believe,” “could,” “will,”
“plan,” “expect” and “would” and similar terms and phrases,
including references to assumptions, have been used in this release
to identify forward-looking statements. These forward-looking
statements are made based on management’s expectations and beliefs
concerning future events affecting Orbotech and are subject to
uncertainties and factors relating to its operations and business
environment, all of which are difficult to predict and many of
which are beyond the Company’s control. Many factors could cause
the actual results to differ materially from those projected
including, without limitation, cyclicality in the industries in
which the Company operates, the Company’s production capacity,
timing and occurrence of product acceptance, worldwide economic
conditions generally, especially in the industries in which the
Company operates, the timing and strength of product and service
offerings by the Company and its competitors, changes in business
or pricing strategies, changes in the prevailing political and
regulatory framework in which the relevant parties operate or in
economic or technological trends or conditions, including currency
fluctuations, inflation and consumer confidence, on a global,
regional or national basis, the level of consumer demand for
sophisticated devices such as smartphones, tablets and other
electronic devices, the timing, terms and completion of the
proposed equity offering, and other risks detailed in the Company’s
SEC reports, and other risks detailed in the Company’s SEC reports,
including the Company’s Annual Report on Form 20-F for the year
ended December 31, 2010. The Company assumes no obligation to
update the information in this release to reflect new information,
future events or otherwise, except as required by law.
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