Semiconductor equipment co Camtek falls after $425 mln convertible bonds sale

** U.S.-listed shares of Camtek CAMT.O down 2.5% to $82 before the bell following capital raise news

** Israeli semiconductor testing equipment maker announces pricing private offering of $425 mln 0% 5-yr convertible bonds (CBs)

** Initial conversion price set at $109.34, 30% above stock's last close of $84.11

** It plans to use net offering proceeds to repurchase approx $167.1 mln principal of its 0% CBs due 2026 for total amount of about $267 mln in cash

** Any remainder to be used for general purposes, including potential acquisitions, among other uses

** With ~45.7 mln shares outstanding, Camtek has ~$3.8 bln market cap

** CAMT shares on Thurs rose 3.6%, putting them up ~4% YTD

** 8 of 10 analysts covering CAMT rate shares "strong buy" or "buy" and 2 rate "hold"; median PT is $99, per LSEG