May 18, 2017 | By Tess
Nano Dimension Ltd., an Israeli company that specializes in 3D printed electronics, has just announced that it has raised a total of NIS 14.4 Million ($4 million) through a private placement agreement (or non-public offering) with Israeli institutional investor Ayalim Trust Funds. At the same time, the company has also released its 2017 first quarter financial results.
The 3D printing tech company says that, as part of the private placement agreement, it will issue 3,430,000 ordinary shares at a price of NIS 4.2 ($1.17) per ordinary share, or $5.85 per ADS. As per Israeli securities regulations, the issued ordinary shares will be restricted for a total of six months.
“This funding does not include issuance of warrants and was priced at a minimum discount compared to the market price,” Nano Dimension said in a statement.
The funding will see Ayalim Trust Funds take roughly 6.4% of Nano Dimension’s issued share capital. The non-public offering agreement is currently awaiting TASE approval, and should close once that is received.
Nano Dimension currently trades on the Nasdaq Stock Market, as well as on TASE, the Tel Aviv Stock Exchange, under the name NNDM.
Nano Dimension also released its 2017 Q1 financial results, which show that the company ended the period with $8,914,000 in cash and a total loss of $4,489,000. It also reported total revenues of $118,000 for the first quarter of 2017, up significantly from the $46,000 in revenue from the fourth quarter 2016. The company owes this growth to its beta printer deliveries and longer periods of customer use.
"The successful delivery of an additional six DragonFly 2020 3D printers during the first quarter doubled our number of beta sites around the world, bringing us one step closer to our primary objective of commercialization," said Amit Dror, Nano Dimension's CEO. "With thousands of unsolicited requests for information on our products, I am confident that we are on track to meet our goal to begin commercial sales of our DragonFly 2020 3D printer by year end."
Most of our regular readers will be familiar with Nano Dimension, as the innovative company has brought to market one of, if not the most, impressive machines for 3D printing electronics. The DragonFly 2020 PCB 3D printer was under development for some time before finally being delivered to its first clients last year.
In addition to the DragonFly 2020 3D printer, Nano Dimension is also responsible for developing a range of advanced nanotechnology-based conductive and dielectric inks, which are key to 3D printing electronics.
Based in Ness Ziona, Israel, Nano Dimension has also continually improved upon its PCB 3D printing technologies, and has even begun to explore different fields of additive manufacturing.
For instance, in February the company announced that it would be developing advanced inkjet ceramic materials for the aerospace and aviation industries, as well as establishing a new subsidiary dedicated to 3D bioprinting technology (specifically aimed at treating kidney disease).
Founded in 2012, Nano Dimension is easily one of the most ambitious and successful companies working with 3D printed PCBs, which it says could change the electronics industry in a big way. With the new $4 million investment from Ayalim Trust Funds, the company is continuing to grow and, as always, we can’t wait to see what they have in store next.
Posted in 3D Printer Company
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