February 5, 2010 (FinancialWire) — Nova Measuring Instruments Ltd. (NASDAQ: NVMI), a provider of metrology solutions to the semiconductor process control market, said that it has priced a follow-on public offering of 3.85 million ordinary shares at a price of $4.15 per ordinary share for gross proceeds of around $16.0 million.

Nova said it expects net proceeds of around $14.7 million. The company has also granted to Needham & Co., LLC, the sole book running manager and Roth Capital Partners, LLC, the co-manager, in connection with the offering, a 30-day over-allotment option to purchase up to an additional 577,500 of its ordinary shares to cover over-allotments.

Full exercise of the option would result in additional net proceeds of around $2.2 million.

Nova plans to use the net proceeds of the offering for working capital and for other general corporate purposes. The closing is scheduled to take place on or about February 9.

Israel-based Nova Measuring Instruments develops, produces and markets integrated and stand alone metrology solutions for the semiconductor manufacturing industry.

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