Press Release October 19, 2020

Capital Markets Team Advises Initial Purchasers On Nova’s Upsized Offering Of $200 Million Of 0% Convertible Senior Notes

The Capital Markets team advised the initial purchasers on the $200 million Rule 144A offering of 0% Convertible Senior Notes due 2025 by Nova Measuring Instruments Inc. Nova’s offering initially launched at $150 million, but was upsized to $175 million, plus the full exercise of the initial purchasers’ option to purchase additional notes. The notes feature an initial conversion price of approximately $74.60 per share, which represents a conversion premium of 27.5% to the reference price for the notes. Nova used approximately $10 million of the net proceeds from the sale of notes to repurchase Nova’s ordinary shares from certain purchasers of the notes.
 
Nova is a leading innovator and key provider of metrology solutions for advanced process control used in semiconductor manufacturing. Nova is traded on The Nasdaq Global Select Market under the symbol “NVMI” and on the Tel Aviv Stock Exchange under the symbol “נובה.”
 
The Goodwin team consisted of partners Jim Barri, Audrey Leigh, and John Servidio, and associates Chloe Pletner, Benjamin Drai, and Christine Jeong. Daniel Karelitz and Jonathan LaPlante provided tax advice.
 
For more information, please see Nova’s closing press release for the notes.