Eltek Ltd. Prices $10M Share Offering at $16.00 Per Share
Ticker: ELTK · Form: 6-K · Filed: Feb 15, 2024 · CIK: 1024672
| Field | Detail |
|---|---|
| Company | Eltek Ltd (ELTK) |
| Form Type | 6-K |
| Filed Date | Feb 15, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $16.00, $10,000,000 b, $10 Million |
| Sentiment | mixed |
Sentiment: mixed
Topics: share-offering, equity-raise, underwriting, dilution
TL;DR
**Eltek just priced a 625,000 share offering at $16.00 per share with ThinkEquity, raising $10M.**
AI Summary
Eltek Ltd. entered into an underwriting agreement with ThinkEquity LLC on February 12, 2024, for an offering of 625,000 ordinary shares. The shares are being sold at an offering price of $16.00 per share, aiming to raise $10,000,000 in capital for the company. This offering is detailed in their 6-K filing, Report No. 2, for the month of February 2024.
Why It Matters
This offering will dilute existing shareholders but provides Eltek Ltd. with $10,000,000 in additional capital, which can be used for operations, expansion, or debt reduction, potentially impacting future growth.
Risk Assessment
Risk Level: medium — The offering of new shares will dilute existing shareholders, potentially impacting share price, though it also provides capital for the company.
Key Numbers
- 625,000 — Ordinary Shares Offered (Number of shares being issued and sold)
- $16.00 — Offering Price Per Share (Price at which each share is sold)
- $10,000,000 — Total Offering Value (Calculated as 625,000 shares * $16.00/share)
Key Players & Entities
- Eltek Ltd. (company) — registrant
- ThinkEquity LLC (company) — underwriter representative
FAQ
What is the name of the company making the offering?
The company making the offering is Eltek Ltd.
When was the underwriting agreement entered into?
The underwriting agreement was entered into on February 12, 2024.
Who is the representative of the underwriters for this offering?
ThinkEquity LLC is the representative of the several underwriters.
How many ordinary shares are being offered for sale?
A total of 625,000 ordinary shares are being offered.
What is the offering price per share?
The offering price per share is $16.00.
Filing Stats: 602 words · 2 min read · ~2 pages · Grade level 12.7 · Accepted 2024-02-15 16:20:27
Key Financial Figures
- $16.00 — of the Company, at an offering price of $16.00 per share (the "Shares"). The Offering
- $10,000,000 b — e gross proceeds from the Offering were $10,000,000 before deducting underwriting discounts a
- $10 Million — ess Release: Eltek Announces Closing of $10 Million Public Offering Signatures Pursuant
Filing Documents
- zk2431001.htm (6-K) — 13KB
- exhibit_5-1.htm (EX-99.1) — 6KB
- exhibit_99-1.htm (EX-99.1) — 7KB
- image0.jpg (GRAPHIC) — 83KB
- 0001178913-24-000620.txt ( ) — 142KB
Signatures
Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized. Eltek Ltd. (Registrant) By: /s/ Ron Freund Name: Ron Freund Chief Financial Officer Dated: February 15, 2024