Business Context and Reporting Period
This Form 6-K filing by Kornit Digital Ltd. covers the month of December 2018. The report discloses a secondary public offering of ordinary shares being sold by a significant shareholder, Fortissimo Capital Fund II (Israel), L.P. ("Fortissimo").
Key Financial Metrics and Transaction Details
The filing details a specific capital transaction rather than providing standard quarterly financial statements (revenue, profit, or cash flow).
- Transaction Type: Underwritten secondary public offering.
- Selling Shareholder: Fortissimo Capital Fund II (Israel), L.P.
- Shares Offered: 3,132,481 shares.
- Offering Price: $20.50 per share.
- Underwriters: Barclays Capital Inc. and Citigroup Global Markets Inc.
- Expected Closing Date: On or about December 7, 2018.
The filing text does not provide a clear value for the Company's revenue, profit, cash flow, margins, debt, or liquidity for the reporting period.
Material Changes
The primary material change disclosed is the execution of an Underwriting Agreement on December 3, 2018, facilitating the sale of shares by Fortissimo. This is a secondary offering, meaning the proceeds are expected to go to the selling shareholder rather than the Company, though the filing does not explicitly state the use of proceeds.
Guidance, Outlook, and Risks
The filing incorporates by reference the Company's effective registration statement on Form F-3. It references press releases issued on December 3 and December 4, 2018, regarding the launch and pricing of the offering. No specific forward-looking guidance, management commentary on operational outlook, or new risk factors are detailed within the text of this specific Form 6-K summary.
Investor Verification Checklist
- Verify the final closing date of the offering (expected December 7, 2018) and confirm the actual number of shares sold.
- Review the attached Underwriting Agreement (Exhibit 1.1) for details on underwriting discounts, commissions, and any lock-up agreements.
- Confirm the post-offering ownership percentage of Fortissimo Capital Fund II (Israel), L.P.
- Check subsequent filings to determine if the offering was fully subscribed or if there were any over-allotment exercises.