CAMT - Here's Why Camtek Stock Is Falling Today
Shares of Camtek (NASDAQ: CAMT) , which makes inspection and metrology equipment for the semiconductor industry, tumbled Thursday after the company announced late Wednesday that it has proposed a private offering of $140 million in convertible senior notes.
The tech stock fell by as much as 10.9% Thursday and was down by 7.9% as of 1:03 p.m. ET.
The company said in a press release that the $140 million aggregate principal amount of the convertible senior notes would be due in 2026, and that it will use the net proceeds from the offering for "general corporate purposes."
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Here's Why Camtek Stock Is Falling Today