Kornit Digital Ltd. (KRNT) 7 Million Shares Offered

Kornit Digital Ltd. – Nasdaq: KRNT

3D printer manufacturer Kornit Digital Ltd. today announced the launch of a public offering of an additional 7,000,000 ordinary shares. The Israeli-based firm will trade on the Nasdaq under ticker symbol KRNT.

Kornit Digital develops, manufactures and markets industrial and commercial printing solutions for the garment, apparel, and textile industries. Kornit Digital serves the digital textile printing industry with its NeoPigmentTM process including an integrated pretreatment solution, Kornit Digital caters to the needs of both designers and manufacturers. Kornit claims to be the only company to provide a complete digital printing solution, from start to finish.

2,000,000 of the shares are being offered by Kornit and 5,000,000 of the shares are being offered by shareholders of the company, substantially all by the company’s largest shareholder, Fortissimo Capital Fund II (Israel) L.P. Kornit and the selling shareholders have also granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares. Kornit intends to use the proceeds from the offering for general corporate purposes. The Company will not receive any of the proceeds from the sale of shares being offered by the selling shareholders.

Kornit Digital Ltd. is followed by four firms. Three rates KRNT shares as a “Strong Buy”. One rates KRNT as a “Buy”. Their consensus price target for KRNT is $18.

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Ticker Symbol KRNT
Last Price a/o 4:00 PM EST  $                    17.75
Average Volume 128,250
Market Cap $542.88 million
Sales $102 million
Shares Outstanding 30.59 million
Share Float 29.44 million
Shortable Yes
Optionable No
Inside Ownership
Short Float 3.10%
Short Interest Ratio 7.12
Quarterly Return 74.02%
YTD Return 40.32%
Year Return 69.86%