Camtek Announces Pricing of Upsized Private Offering of $425 Million of 0.00% Convertible Senior Notes due 2030

Core Viewpoint - Camtek Ltd. has announced a private offering of $425 million in 0.00% Convertible Senior Notes due 2030, which was increased from a previously planned $400 million offering, with an option for initial purchasers to buy an additional $75 million [1][7]. Group 1: Offering Details - The Notes will mature on September 15, 2030, and will not bear regular interest, with no accretion of the principal amount [2]. - The initial conversion rate is set at 9.1455 ordinary shares per $1,000 principal amount, translating to an initial conversion price of approximately $109.34 per share, representing a 30.0% premium over the last reported sale price on September 11, 2025 [3]. - Camtek may redeem the Notes under specific conditions, including tax-related events or if the share price exceeds 130% of the conversion price for a specified period [4]. Group 2: Repurchase and Use of Proceeds - The company intends to use the net proceeds to repurchase approximately $167.1 million of its 0% senior convertible notes due 2026 for about $267.0 million in cash, with the remainder allocated for general corporate purposes, including potential acquisitions and research and development [7]. - Holders of the Notes may require Camtek to repurchase their Notes for cash if certain corporate events occur, with the repurchase price equal to 100% of the principal amount plus any accrued interest [5]. Group 3: Company Overview - Camtek is a developer and manufacturer of high-end inspection and metrology equipment for the semiconductor industry, serving leading global IDMs, OSATs, and foundries [10]. - The company operates manufacturing facilities in Israel and Germany, with a focus on advanced semiconductor market segments [10].