Cimatron Announces Pricing of Secondary Public Offering of Ordinary Shares
Thursday, March 21, 2013 12:30:00 PM (GMT)
GIVAT SHMUUEL, Israel, March 21, 2013
GIVAT SHMUUEL, Israel, March 21, 2013 /PRNewswire/ --
Cimatron Limited (NASDAQ and TASE: CIMT), a leading provider of integrated
CAD/CAM software solutions for the toolmaking and manufacturing industries,
today announced that certain of its shareholders have priced an underwritten
public offering for an aggregate of 2,500,000 of its ordinary shares at a
price to the public of $5.25 per share.The selling shareholders have also
granted to the underwriter a 30-day option to purchase, at the same price per
share as the underwriters will pay for the initial shares, an additional
375,000 ordinary shares to cover over-allotments in connection with the
offering.Cimatron will not receive any proceeds from the sale of the ordinary
shares by the selling shareholders.
The offering is expected to close on Tuesday, March 26, 2013, subject to
customary closing conditions. Roth Capital Partners, LLC is acting as the
sole underwriter for the offering.
The shares described above are being offered by the selling shareholders
pursuant to a registration statement previously filed with and subsequently
declared effective by the Securities and Exchange Commission.A preliminary
prospectus supplement relating to the offering was filed with the SEC on March
20, 2013 and is available on the SEC's website at http://www.sec.gov. A final
prospectus supplement relating to the offering will be filed with the SEC and
will be available on the SEC's website at http://www.sec.gov. Copies of the
prospectus supplement and accompanying base prospectus relating to this
offering may be obtained, when available, from Roth Capital Partners, LLC, 888
San Clemente Drive, Newport Beach, CA 92660, 800-678-9147.
Yossi Ben Shalom, Cimatron's Chairman of the Board, commented, "This offering
marks an important step for Cimatron, as we believe it will provide us with an
increased public shareholder float and increased liquidity for our shares. In
addition, we believe it will bring us long-term and reputable shareholders as
well as increased Wall Street following and coverage. I stress that DBSI
remains the largest and a committed shareholder, very supportive of the
Company and its plans for growth and development."
This press release shall not constitute an offer to sell or a solicitation of
an offer to buy any of the securities described herein, nor shall there by 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.
With 30 years of experience and more than 40,000 installations worldwide,
Cimatron is a leading provider of integrated, CAD/CAM software solutions for
mold, tool and die makers as well as manufacturers of discrete parts. Cimatron
is committed to providing comprehensive, cost-effective solutions that
streamline manufacturing cycles and ultimately shorten product delivery time.
The Cimatron product line includes the CimatronE and GibbsCAM brands with
software solutions for mold design, die design, electrode design, 2.5 to 5
Axis milling, wire EDM, turn, Mill-turn, rotary milling, multi-task machining,
and tombstone machining. Cimatron's subsidiaries and extensive distribution
network serve and support customers in the automotive, aerospace, medical,
consumer plastics, electronics, and other industries in over 40 countries
Safe Harbor Statement
This press release includes forward looking statements, within the meaning of
the Private Securities Litigation Reform Act of 1995,regarding the public
offering and the anticipated closing and timing of the closing.These
forward-looking statements are subject to risks and uncertainties that may
cause actual results to differ materiallyfrom those anticipated. Such
statements relate to, among other things, the anticipated satisfaction of the
conditions to closing of the offering, market conditions, and risks related to
Cimatron's plans, objectives and expected financial and operating results.
Investors are cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and uncertainties, many of
which are beyond Cimatron's ability to control. For more details about the
risks and uncertainties related to Cimatron's business, refer to Cimatron's
filings with the Securities and Exchange Commission. Cimatron undertakes no
obligation to publicly update or revise any forward looking statements,
whether as a result of new information, future events or otherwise.
For More Information Contact:
Chief Financial Officer
Investor Relations contact:
Ehud Helft/Kenny Green
CCG Investor Relations
Tel: (US) +1-646-201-9246
SOURCE Cimatron Ltd
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