Kornit Digital: Falls from record high on planned equity raise

Kornit Digital

12/06/2019 18:00

** Kornit Digital  KRNT.O  down 5.7% to $27.68 after textile
printer maker launches follow-on
    ** Israel-based co selling 4.34 mln shares for future
acquisitions, and for general corp purposes, among other uses
 urn:newsml:reuters.com:*:nGNX2xTX5X
    ** Citigroup, Goldman and Barclays acting as bookrunners for
offering, which is slated to price Thurs AMC
    ** Deal size represents ~12% of KRNT shares outstanding, per
prospectus filing
    ** Per KRNT's annual report, Amazon.com  AMZN.O  accounted
for approx 17% of $142.4 mln total revenues in 2018
    ** KRNT notched record high close of $29.36 on Tues. Stock
trimming YTD gain to 48% with fall on Weds
    ** Shares trading ~41x forward earnings

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