FRIEDBERG, Germany--(BUSINESS WIRE)--Capital Increase
The management board of voxeljet AG (WKN: A1W556 / ISIN: US92912L1070 /
Ticker: VJET / New York Stock Exchange) today approved, with the consent
of the supervisory board, a capital increase against cash contributions
under exclusion of the subscription rights of the existing shareholders
in an amount of up to 1.1 million euro. The company's capital is to be
increased through the partial use of its authorised capital approved by
the ordinary shareholders meeting on 30 May 2018, which currently
amounts to EUR 3,720,000 by up to EUR 1,116,000 to up to EUR 4,836,000.
In conjunction with the capital increase, the company will issue new
registered ordinary shares with attached dividend entitlements for the
financial year 2018, which will be offered in the form of American
Depositary Shares ("ADSs"). Each ADS represents one-fifth of an ordinary
share. The offering period for the ADSs will run from 15 to on or about
18 October 2018. The ADSs are listed on the New York Stock Exchange.
The company intends to implement the capital increase in two tranches.
As part of the main share tranche, up to 972,000 ordinary shares will be
issued and offered in the US capital markets in the form of up to
4,860,000 ADSs to institutional investors. In addition, the transaction
features an over-allotment option of up to an additional 144,000
ordinary shares to be offered in the form of up to 720,000 ADSs.
The offer price is expected to be set and announced by the management
board on 19 October 2018. The company will receive the proceeds from the
capital increase, less estimated underwriting discounts and commissions
and estimated offering expenses. The company intends to use the net
proceeds for general corporate purposes.
In connection with the transaction, Piper Jaffray & Co. will act as the
stabilization manager and may, as stabilization manager, make
over-allotments and take stabilization measures in accordance with legal
requirements (Art. 5 para. 4 and 5 of the Market Abuse Regulation (EU)
No. 596/2014 in conjunction with Articles 5 through 8 of the Commission
Delegated Regulation (EU) 2016/1052) to support the market price of the
company’s securities and thereby counteract any selling pressure. The
stabilization manager is under no obligation to take any stabilization
measures. Therefore, stabilization may not necessarily occur and may
cease at any time. Such measures may be taken as of the date of
announcement of the offering price of the ADSs and must be discontinued
no later than 30 calendar days after such date (the “Stabilization
Period”). Stabilization transactions aim at supporting the market price
of the company’s securities during the Stabilization Period. These
measures may result in the market price of the company’s Securities
being at levels higher than those which might otherwise prevail.
Moreover, the market price may temporarily be at an unsustainable level.
Preliminary Q3 Results
The company expects to report its third-quarter 2018 financial results
in November. Based on the information and data currently available, the
company preliminarily estimates that for the three months ended
September 30, 2018, the company will have revenue between €7.0 million
and €7.25 million, compared with revenue for the three months ended
September 30, 2017 of €7.4 million. The estimates reflect the company’s
preliminary unaudited estimates and are based on information available
as of the date hereof. Actual results and estimates may differ
materially from the estimates and trends described above due to
developments or other information that may arise between now and the
time the financial results for the third quarter or fiscal year are
finalized. These preliminary results should not be viewed as a
substitute for the company’s third quarter interim unaudited
consolidated financial statements prepared in accordance with IFRS.
Important Additional Information
This announcement is for informational purposes only. It is neither an
offer to buy, sell, exchange or transfer securities nor a solicitation
to submit an offer to purchase securities of voxeljet AG in the United
States of America, Germany or any other country. Neither this
announcement nor its contents may be distributed in connection with any
offer in any country.
This announcement is neither an advertisement nor a prospectus and does
not constitute a recommendation with respect to the securities described
in this announcement.
A registration statement relating to the ordinary shares has been filed
with the U.S. Securities and Exchange Commission (SEC) and has become
effective. The prospectus in the registration statement, the related
prospectus supplement and the other documents that voxeljet AG files
with the SEC contains information about voxeljet AG and the capital
increase. You may obtain the preliminary prospectus supplement for the
capital increase, the registration statement and the other documents for
free by visiting EDGAR on the SEC’s website located at www.sec.gov.
Copies of the preliminary prospectus supplement and accompanying
prospectus may also be obtained from voxeljet AG, Paul-Lenz-Straße 1a,
86316 Friedberg, Germany, Attention: Investor Relations Department, or
by calling +49 821 7483 100.
Forward-Looking Statements
To the extent this document contains forward-looking statements, such
statements are not statements of fact and are made using words such as
"expect", "believe", "estimate", "intend", "strive", "assume" and
similar expressions. These statements are an expression of the
intentions, views or current expectations and assumptions of voxeljet AG
and are based on current plans, estimates and forecasts made by voxeljet
AG on the basis of its best knowledge, but do not constitute any
statement with respect to their future accuracy. You should not place
undue reliance on these statements. voxeljet AG cannot provide
assurances that the matters described in this press release will be
successfully completed or that voxeljet AG will realize the anticipated
benefits of any transaction. Forward-looking statements are subject to
risks and uncertainties, which are usually difficult to predict and
ordinarily not in the domain of influence of voxeljet AG. These risks
and other factors are discussed in more detail in the company’s public
filings with the Securities and Exchange Commission. It should be noted
that actual events or developments could materially differ from the
events and developments described or included in the forward-looking
statements. Statements made herein are as of the date hereof and should
not be relied upon as of any subsequent date. The company disclaims any
obligation to update any forward-looking statements except as may be
required by law.
CONTACT:
Investors and Media
Johannes Pesch
Director Investor Relations and Business Development
johannes.pesch@voxeljet.de
Office: +49 821 7483172
Mobile: +49 176 45398316