Materialise has commenced trading on the NASDAQ index in New York City, after filing for its Initial Public Offering (IPO) in April 2014.
The company, which is listed on the index under the ticker MTLS, raised $96 million by offering eight million American Depositary Shares (ADSs) at $12 per unit. This is at the lower end of its $12-$14 range.
Back in spring Materialise revealed it had agreed with the SEC to raise up to $125 million and said it would use the proceeds of its offering to expand its operations.
The ADSs begin trading today (June 25th 2014) and the offering is anticipated to close on June 30th 2014 subject to the satisfaction of customary closing conditions. Some selling shareholders of the company have granted underwriters a 30-day option to purchase up to an additional 1.2 million ADSs at the public offering value, less the underwriting discount to cover over-allotments.
Piper Jaffray and Credit Suisse are joint book-running managers for the Leuven-based 3D printing giant.