Oct.17, 2013

German 3D printer company voxeljet is planning to sell 6.5 million shares at a price range of $13 to $15 a share this week in its IPO. The company is expected to price its initial public offering (IPO) Thursday night and start trading publicly Friday morning.

voxeljet expects to raise almost $100 million from the offering.

voxeljet sold its first 3D printer in 2002. As of June 30, 2013, the company had an installed base of 52 printers worldwide, and a service center with approximately 16,000 square feet of production space.

voxeljet's revenues have grown to €8.7 million in 2012 from €4.8 million in 2010, representing a 35% compound annual growth rate. When it filed to go public, Voxeljet said that for its 2012 fiscal year it earned $276,000 on $11.3 million in sales. voxeljet booked $11 million in sales for the 12 months ended June 30, 2013.

The stock will trade on the New York Stock Exchange under the ticker symbol VJET.

Update Oct.18, 2013 - Press Release:

voxeljet AG today announced the pricing of its public offering of 6,500,000 American Depositary Shares (ADSs) at a public offering price of $13.00 per ADS. Of the 6,500,000 ADS sold in the public offering, 5,600,000 were sold by the Company and 900,000 were sold by its shareholders (the "Selling Shareholders"). The Company's ADSs are expected to begin trading on October 18, 2013 on the New York Stock Exchange under the ticker symbol "VJET." The offering is expected to close on October 23, 2013, subject to the satisfaction of customary closing conditions. The Selling Shareholders have granted the underwriters a 30-day option to purchase up to an additional 975,000 ADSs at the public offering price, less the underwriting discount, to cover over-allotments, if any.

The net proceeds of the offering to the Company are estimated to be approximately $64.5 million after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering for the expansion of its on-demand parts service center in Europe and the establishment of new on-demand parts service centers in North America and Asia; research and development and sales and marketing initiatives; and for general corporate purposes, including, without limitation, potential acquisitions. The net proceeds of the offering to the Selling Shareholders are estimated to be approximately $10.7 million after deducting underwriting discounts and commissions and estimated offering expenses, prior to any exercise of the underwriters' over-allotment option. The Company will not receive any proceeds from the sale of ADSs by the Selling Shareholders.

Piper Jaffray and Citigroup are acting as joint book-running managers for the offering and Cowen and Company and Stephens Inc. are acting as co-managers.

Update Oct.18, 2013

Shares of voxeljet doubled in their market debut on Friday.

Voxeljet raised $72.8 million after selling 5.6 million American Depositary Shares (ADS) at $13 each, the low end of the pricing range. Stockholders sold an additional 900,000 ADS.

 

Posted in 3D Printing Technology

 

 

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