PETACH TIKVA, Israel, Feb. 12,
2024 /PRNewswire/ -- Eltek Ltd. (NASDAQ: ELTK), a
global manufacturer and supplier of technologically advanced
solutions in the field of printed circuit boards, announced today
the pricing of an underwritten public offering of 625,000 ordinary
shares at a public offering price of $16.00 per share, for gross proceeds of
$10,000,000, before deducting
underwriting discounts and offering expenses. All of the ordinary
shares are being sold by the Company. The offering is expected to
close on February 15, 2024, subject
to satisfaction of customary closing conditions.
ThinkEquity is acting as sole book-running manager for the
offering.
The Company intends to use the net proceeds from this offering
to strategically invest in the expansion of its production
capabilities and for general corporate purposes including working
capital.
The securities are being offered and sold pursuant to a shelf
registration statement on Form F-3 (File No. 333-266346), including
a base prospectus, filed with the U.S. Securities and Exchange
Commission (the "SEC") on July 27,
2022 and declared effective on August
5, 2022. The offering will be made only by means of a
written prospectus. A prospectus supplement and accompanying
prospectus describing the terms of the offering will be filed with
the SEC on its website at www.sec.gov. Copies of the prospectus
supplement and the accompanying prospectus relating to the offering
may also be obtained from the offices of ThinkEquity, 17 State
Street, 41st Floor, New York, New
York 10004.
Before investing in this offering, interested parties should
read in their entirety the prospectus supplement and the
accompanying prospectus and the other documents that the Company
has filed with the SEC that are incorporated by reference in such
prospectus supplement and the accompanying prospectus, which
provide more information about the Company and such offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction.
About Eltek
Eltek – "Innovation Across the Board", is a global manufacturer
and supplier of technologically advanced solutions in the field of
printed circuit boards (PCBs) and is an Israeli leading company in
this industry. PCBs are the core circuitry of most electronic
devices. Eltek specializes in the manufacture and supply of complex
and high-quality PCBs, HDI, multilayered and flex-rigid boards for
the high-end market. Eltek is ITAR compliant and has AS-9100 and
NADCAP electronics certifications. Its customers include leading
companies in the defense, aerospace and medical industries in
Israel, the United States, Europe and Asia.
Eltek was founded in 1970. The Company's headquarters, R&D,
production and marketing center are located in Israel. Eltek also operates through its
subsidiary in North America and by
agents and distributors in Europe,
India, South Africa and South America.
For more information, visit Eltek's web site at
www.nisteceltek.com
Forward Looking Statement
Some of the statements included in this press release may be
forward-looking statements that involve a number of risks and
uncertainties including, but not limited to expected results in
future quarters, the impact of the Coronavirus on the economy and
our operations, the impact of the war and hostilities between
Israel and Hamas and Israel and Hezbollah, risks in product and
technology development and rapid technological change, product
demand, the impact of competitive products and pricing, market
acceptance, the sales cycle, changing economic conditions and other
risk factors detailed in the Company's Annual Report on Form 20-F
and other filings with the United States Securities and Exchange
Commission. Any forward-looking statements set forth in this press
release speak only as of the date of this press release. The
information found on our website is not incorporated by reference
into this press release and is included for reference purposes
only.
Investor Contact
Ron Freund
Chief Financial Officer
Investor-Contact@nisteceltek.com
+972-3-939-5023
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SOURCE Eltek Ltd.