Camtek Ltd. (NASDAQ:CAMT) releases the pricing of an underwritten public offering of 3,500,000 ordinary shares

Camtek Ltd. (NASDAQ:CAMT) spotted trading -13.76% off 52-week high price. On the other end, the stock has been noted 183.00% away from the low price over the last 52-weeks. The stock changed -10.32% to recent value of $17.73. The stock transacted 546363 shares during most recent day however it has an average volume of 107.32K shares. The company has 39.18M of outstanding shares and 20.04M shares were floated in the market.

On Nov. 18, 2020, Camtek Ltd. (NASDAQ:CAMT) a leading manufacturer of metrology and inspection equipment, released the pricing of an underwritten public offering of 3,500,000 ordinary shares at a price to the public of $17.00 per share. The offering was upsized from the previously announced public offering of 3,000,000 ordinary shares. In addition, Camtek has granted the underwriters a 30-day option to purchase up to an additional 525,000 ordinary shares, at the public offering price less underwriting discounts and commissions. The offering is expected to close on or about November 23, 2020, subject to customary closing conditions.

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.

Its earnings per share (EPS) expected to touch remained 6.30% for this year while earning per share for the next 5-years is expected to reach at 15.00%. CAMT has a gross margin of 46.80% and an operating margin of 13.70% while its profit margin remained 13.30% for the last 12 months.

According to the most recent quarter its current ratio was 4 that represents company’s ability to meet its current financial obligations. The price moved ahead of -4.91% from the mean of 20 days, 1.48% from mean of 50 days SMA and performed 32.16% from mean of 200 days price. Company’s performance for the week was -5.64%, -3.64% for month and YTD performance remained 63.71%.

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Dennis Morris

Dennis Morris writes related to the Business Category. He manages to cover anything thrown at him in these two verticals owing to his natural inclination towards Business. Dennis is our freelance contributor. He is responsible for covering developments in finance and business categories.

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