Nova Measuring Instruments Ltd. Prices Follow-on Public Offering
February 04 2010 - 9:06AM
PR Newswire (US)
REHOVOT, Israel, February 4 /PRNewswire-FirstCall/ -- Nova
Measuring Instruments Ltd. (NASDAQ:NVMI), a provider of leading
edge stand alone metrology and a market leader of integrated
metrology solutions to the semiconductor process control market,
today announced that it has priced a follow-on public offering of
3,850,000 ordinary shares at a price of $4.15 per ordinary share
for gross proceeds of approximately $16.0 million. Nova expects net
proceeds, after underwriting discounts and commissions and
estimated offering expenses payable by Nova, of approximately $14.7
million. Nova has also granted to Needham & Company, LLC, the
sole book running manager and Roth Capital Partners, LLC, the
co-manager, in connection with the offering, a 30-day
over-allotment option to purchase up to an additional 577,500 of
its ordinary shares to cover over-allotments, if any, which would
result in additional net proceeds of approximately $2.2 million if
exercised in full. Nova intends to use the net proceeds of the
offering for working capital and for other general corporate
purposes. The closing is expected to take place on or about
February 9, 2009, subject to the satisfaction of customary closing
conditions. The ordinary shares will be issued under Nova's shelf
registration statement on Form F-3, as amended, which was declared
effective by the Securities and Exchange Commission on January 4,
2010. This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities referred to herein,
nor shall there be any sale of these securities in any state or
jurisdiction, foreign or domestic, in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. When available, copies of the final prospectus
supplement and the accompanying base prospectus may be obtained
from the Securities and Exchange Commission's web site at
http://www.sec.gov/, or from Needham & Company, LLC, 445 Park
Avenue, New York, NY 10022, at +1-(212)-371-8300. The offering may
be made only by means of a prospectus and a related prospectus
supplement. About Nova Measuring Instruments Ltd. Nova Measuring
Instruments Ltd. develops, produces and markets advanced integrated
and stand alone metrology solutions for the semiconductor
manufacturing industry. Nova Measuring Instruments Ltd. is traded
on the NASDAQ & TASE under the symbol NVMI. Detailed
information about Nova Measuring Instruments Ltd., can be found on
its website at http://www.nova.co.il/. The information contained on
our website does not form a part of this press release or the
offering described above. This press release contains
forward-looking statements that are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements include statements
concerning the Company's expectations regarding completion, timing
and size of the proposed financing and other statements which are
other than statements of historical facts. In some cases, you can
identify forward-looking statements by terminology such as "may,"
"will," "should," "expects," "intends," "plans," anticipates,"
"believes," "estimates," "predicts," "projects," "potential,"
"continue," and other similar terminology or the negative of these
terms, but their absence does not mean that a particular statement
is not forward-looking. Such forward-looking statements are not
guarantees of future performance and are subject to risks and
uncertainties that may cause actual results to differ materially
from those anticipated by the forward-looking statements. These
risks and uncertainties include, among others: the risk that the
financing may be delayed or may not occur due to market or other
conditions and the satisfaction of customary closing conditions
related to the proposed public offering. Additional information
concerning these and other factors that may cause actual results to
differ materially from those anticipated in the forward-looking
statements is contained in the "Risk Factors" section of the
Company's Annual Report on Form 20-F for the fiscal year ended
December 31, 2008, and in the Company's other filings with the
Securities and Exchange Commission and the prospectus supplement
related to the offering. The Company cautions investors not to
place undue reliance on the forward-looking statements contained in
this press release. All forward-looking statements are based on
information currently available to the Company on the date hereof,
and the Company undertakes no obligation to revise or update these
forward-looking statements to reflect events or circumstances after
the date of this presentation, except as required by law. Company
Contact: Dror David, Chief Financial Officer Nova Measuring
Instruments Ltd. Tel: +972-8-938-7505 E-mail: Investor Relations
Contacts: Ehud Helft / Kenny Green CCG Investor Relations Israel
Tel: +1-646-201-9246 http://www.nova.co.il/ DATASOURCE: Nova
Measuring Instruments Ltd CONTACT: Company Contact: Dror David,
Chief Financial Officer, Nova Measuring Instruments Ltd., Tel:
+972-8-938-7505, E-mail: . Investor Relations Contacts: Ehud Helft
/ Kenny Green, CCG Investor Relations Israel, Tel: +1-646-201-9246,
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