Nano Dimension, developer of the 3D electronics printer DragonFly 2020, has raised a total of $ 12 Million in public offering of American Depositary Shares (ADSs).
The Israel-based company expects to receive gross proceeds from the offering of 1,850,000 ADSs, at a price of $ 6 per share, of $ 12 Million. Additionally, Nano Dimension has granted the underwriters a 45-day over-allotment option to purchase up to 277,500 additional ADSs at the public offering price, all of them offered by the company itself.
Nano Dimension plans to use the proceeds in order to fund sales and marketing activities of its printers, scaling up of its production facilities, production expenses relating to its printers and inks, research and development, potential licensing, as well as for general working capital and other corporate purposes.
The offering is expected to close on September 30, 2016.
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