Camtek Ltd Completes $500 Million Convertible Senior Notes Offering

Camtek Ltd, an Israeli corporation, successfully closed its offering of $500 million aggregate principal amount of 0.00% Convertible Senior Notes due 2030. The notes were issued in a private placement to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The offering included an additional $75 million of notes due to the full exercise of the initial purchasers' option. The notes are convertible into ordinary shares of Camtek Ltd at an initial conversion rate of 9.1455 ordinary shares per $1,000 principal amount of notes, equivalent to a conversion price of approximately $109.34 per ordinary share. The net proceeds from the offering, after deducting discounts and offering expenses, were approximately $486.5 million. Camtek Ltd intends to use the proceeds for general corporate purposes, including potential acquisitions, working capital, capital expenditures, investments, and research and development.