PETACH TIKVA, Israel, Feb. 15,
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 closing of its previously announced 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.
ThinkEquity acted 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 offering is being made pursuant to an effective shelf
registration statement that has been filed with the U.S. Securities
and Exchange Commission (the "SEC"). The final prospectus
supplement relating to the offering was filed with the SEC and is
available on the SEC's website at http://www.sec.gov. Copies
of the final prospectus supplement and the accompanying prospectus
relating to the offering may also be obtained from ThinkEquity, 17
State Street, 41st Floor, New York, New
York 10004.
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 current war with Hamas, 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.