By Sheri Kasprzak
Atlanta, Jan. 10 - Camtek Ltd. has wrapped its previously announced private placement for more than it expected.
The company received, through its parent company Priortech Ltd., NIS 53.5 million.
Priortech issued two- to five-year non-traded debentures to Israeli institutional investors.
The debentures are convertible into common shares at $5.50 each.
The company originally announced on Dec. 20 that it planned to raise up to NIS 50 million in an offering of two- to six-year debentures.
Priortech may force the conversion of the debentures if the closing price of Camtek's stock exceeds $8.25 for 30 consecutive trading days.
The investors in the offering also received warrants for 791,800 shares at $6.25 each for four years.
Based in Migdal Haemek, Israel, Camtek designs, develops, manufactures and markets automatic optical inspection systems.
| Issuer: | Camtek Ltd.
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| Issue: | Convertible debentures
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| Amount: | NIS 53.5 million (US$12.2 million)
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| Maturity: | Two to five years
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| Conversion price: | $5.50
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| Warrants: | For 797,800 shares
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| Warrant expiration: | Four years
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| Warrant strike price: | $6.25
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| Announcement date: | Dec. 20
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| Settlement date: | Jan. 10
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| Stock price: | $4.58 at close Dec. 20
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| Stock price: | $4.36 at close Jan. 10
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