Hot off the textile printing presses: Kornit Digital sets terms for $99 million IPO

Kornit Digital, which sells digital printing equipment and inks for the printed textile industry, announced terms for its IPO on Wednesday.

The Rosh Ha'Ayin, Israel-based company plans to raise $99 million by offering 7.1 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Kornit Digital would command a fully diluted market value of $434 million.

Kornit Digital, which was founded in 2002 and booked $66 million in sales for the 12 months ended December 31, 2014, plans to list on the NASDAQ under the symbol KRNT. Barclays and Citi are the joint bookrunners on the deal. It is expected to price during the week of March 30, 2015.