Eltek Ltd. Plans to Raise $10 Million through Public Offering
Eltek Ltd. (NASDAQ:ELTK), a global provider of printed circuit board solutions, has announced its plans to raise $10 million through an underwritten public offering of 625,000 ordinary shares, priced at $16.00 each. The offering, which is expected to close on February 15, 2024, is subject to customary closing conditions.
The sole book-running manager for the transaction is ThinkEquity. Eltek intends to utilize the net proceeds from the offering to expand its production capabilities and support its general corporate needs, including working capital.
The shares are being offered in accordance with a shelf registration statement on Form F-3, which was filed with the U.S. Securities and Exchange Commission (SEC) and became effective on August 5, 2022. Prospective investors are advised to review the prospectus supplement and accompanying prospectus, both of which have been filed with the SEC, to fully understand the terms of the offering.
Eltek, founded in 1970 and headquartered in Israel, specializes in manufacturing complex and high-quality printed circuit boards. The company serves various sectors, including defense, aerospace, and medical industries. With a strong international presence, Eltek operates through a subsidiary in North America and has agents located across Europe, India, South Africa, and South America.
This public offering presents an opportunity for Eltek to strengthen its position in the market and further expand its production capabilities. With its expertise in printed circuit board solutions, the company is well-positioned to cater to the growing demand in sectors such as defense, aerospace, and medical.
Investors looking to participate in this offering should carefully review the filed documents with the SEC to gain a comprehensive understanding of the terms and conditions. As the offering is contingent upon customary closing conditions, it is imperative for interested parties to stay informed regarding any updates or changes.
Analyst comment
Positive news: Eltek Ltd. plans to raise $10 million through a public offering to expand production capabilities and support general corporate needs. This presents an opportunity for Eltek to strengthen its market position and cater to growing demand in defense, aerospace, and medical sectors. Investors should review SEC documents for a comprehensive understanding. Market outlook: potential growth for Eltek and increased market presence.
