Item 1. Security and Issuer
This Amendment No. 4 to Schedule 13D (this “Amendment No. 4”) relates to the Common Stock of Orbotech Ltd., (the “Issuer” or the “Company”) and amends the Schedule 13D filed on April 2, 2014 (the “Original Schedule 13D”), as amended by each of Amendment No. 1 thereto filed on May 20, 2014, Amendment No. 2 thereto filed on June 9, 2014, and Amendment No. 3 thereto filed on June 12, 2014 (the Original Schedule 13D, and as amended by such Amendments No. 1, No. 2, No. 3, and this Amendment No. 4, the “Schedule 13D”). The address of the Issuer’s principal executive offices is 7 Sanhedrin Boulevard, North Industrial Zone, Yavne 8110101, Israel.
This Amendment No. 4 is being filed by Ion Asset Management Ltd. (the “Management Company”), Jonathan Half, and Steven Levey (collectively, the “Reporting Persons”).
This Amendment No. 4 is being filed to amend Items 3, 4, and 5 of the Schedule 13D as follows:
Item 3. Source and Amount of Funds or Other Consideration
Item 3 of the Schedule 13D is amended to reflect the following:
The Funds expended an aggregate of approximately $34,151,532 of their own investment capital to acquire the 2,578,658 shares held by them.
Item 4. Purpose of Transaction
Item 4 of the Schedule 13D is amended by adding thereto the following:
On June 27, 2014, The Management Company executed an agreement with Orbotech Ltd. regarding the topics disclosed in the Schedule 13D. A copy of the June 27, 2014 agreement and Orbotech Ltd.’s press release is available in the Form 6-K furnished by the Issuer on June 30, 2014.
Item 5. Interest in Securities of the Issuer
Item 5(a) of the Schedule 13D is amended to reflect the following:
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(a)
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As of the date of this Schedule 13D, the Reporting Persons beneficially own, in the aggregate, 2,578,658 shares of the Common Stock of the Issuer, held by the Funds, representing approximately 6.19% of the Issuer’s outstanding shares, based upon the 41,629,567 shares stated to be outstanding as of June 2, 2014 by the Issuer in the Form 6-K furnished to the Securities and Exchange Commission on June 5, 2014.
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Item 5(b) of the Schedule 13D is amended to reflect the following:
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(b)
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Each of the Reporting Persons shares voting and dispositive power over the 2,578,658 shares of Common Stock.
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Item 5(c) of the Schedule 13D is amended to reflect the following:
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(c)
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Set forth on Schedule I to this Amendment No. 4 are all transactions in the Common Stock of the Issuer effected since May 20, 2014 by the Reporting Persons.
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