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Enzymotec Ltd. Files Registration Statement for Proposed Secondary Offering
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Enzymotec Ltd. (Nasdaq:ENZY) today announced that it has filed a registration statement on Form F-1 with the Securities and Exchange Commission for a proposed secondary public offering of 4, 000, 000 of its ordinary shares.
The underwriters will have a 30-day option from the date of the offering to purchase up to an additional 600, 000 ordinary shares. All of the shares will be offered by the Company’s shareholders. The Company will not receive any proceeds from the sale of these shares.
Enzyomtec did not disclose which shareholders will participate in the offer to sell. Its largest shareholder is Galam Group Ltd. of Kibbutz Ma’anit, with a 32% stake currently worth $167 million. XT Investments Ltd. (formerly Ofer Hi-Tech) owns 14.2%, currently worth $79 million; and Millennium Material Technologies Fund owns 7.7%, worth $43 million, Enzymotec CEO Dr. Ariel Katz owns 3%. Other shareholders include Mexico’s Arancia Industrial SA de CV and GlenRock Israel.
BofA Merrill Lynch and Jefferies LLC will act as joint book-running managers for the proposed offering. Wells Fargo Securities, LLC will act as lead manager for the proposed offering. Canaccord Genuity Inc. and Wedbush Securities Inc. will act as co-managers for the proposed offering.
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