Jun 1, 2017 | By Tess

Nano Dimension, an Israel-based 3D printing company leading the way in printed electronics, has raised $4.7 million (NIS 17 million) from investors. The funding, which was raised through private placement agreements, comes from both Israeli and other non-U.S. investors.

Through the funding agreements, Nano Dimension stated that it will issue about 4 million ordinary shares at a price per share of $1.17 (NIS 4.2) or $5.85 per American Depositary Share (ADS).

“This funding does not include issuance of warrants and was priced at a minimum discount compared to the market price,” reports the 3D printing company. Additionally, and as per Israeli securities laws, the ordinary shares will be restricted for six months upon issue.

“The securities described herein have not been registered under the Securities Act of 1933, as amended, and may not be sold in the United States absent registration or an applicable exemption from the registration requirements,” adds the company.

Founded in 2012, Nano Dimension has become an indisputable leader in the 3D printed electronics market, having developed and released the innovative DragonFly 2020 PCB 3D printer, various conductive inks, and a multi-layer PCB printing technology.

So far, the DragonFly 2020 PCB 3D printer has been deployed to only a select number of companies and organizations, including an unspecified Israeli defense company and FATHOM, a Silicon Valley advanced manufacturing specialist.

In April, the company announced that Avi Reichental, the former president, chief executive officer, and director at 3D Systems, was joining its board of directors. The appointment signalled the company’s continued growth.

This year Nano Dimension announced it would be breaking out of the electronics market to expand into the 3D bioprinting field with a new subsidiary. According to the company, its new subsidiary will focus on establishing a 3D bioprinting platform for cells and tissues, with a primary focus on human kidney structures.

With the 4 million shares to be issued, there is little doubt that Nano Dimension is continuing to grow and further establish itself within the 3D printing industry. Currently, Nano Dimension’s American Depositary Shares trade on the NASDAQ, while its ordinary shares trade on the TASE in Israel.

 

 

Posted in 3D Printer Company

 

 

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