Massivit 3D Printing Technologies has completed a capital raising totalling 4.95 million USD through a rights issue.
The proceeds of the offering will be used by the company for continued growth.
Participants in the rights issue included members of the controlling shareholders group which is led by chairman of the board of directors, Yaron Yecheskel, who exercised all his rights and purchased additional rights in the stock market.
In addition, Massivit founder Gershon Miller, as well as Alpha Hedge Fund and Migdal – both shareholders – have exercised all their rights. Additionally, a company under the ownership of Tzuri Daboosh – a leading business entrepreneur and chairman of the Board of Directors of Klil Industries – exercised all its rights and became a shareholder.
Senior company officers – including Igor Yakubov, founder and director, Dadi Perlmutter, a director, Erez Zimerman, the CEO, Yuval Cohen, the CFO – participated in the offering.
“On behalf of the members of the BOD and members of the controlling shareholders group, I would like to thank the institutional entities, Tzuri Daboosh, and all the shareholders who participated in the rights issue and conveyed their trust in the company and its managers,” commented Yecheskel. “I feel privileged and proud to lead an Israeli company with ground-breaking technology and products.”
“We greatly appreciate the participation of the company's shareholders and controlling shareholders in the rights issue and thank them for their ongoing vote of confidence in the company, its managers, its employees, and the capabilities the company has developed,” added Zimerman. “The funds raised will assist the company in its continued growth and implementation of its business plans, including the ongoing promotions and sales of its products to a range of industries. Among other activities, the company will participate this coming March at JEC World, the world's leading exhibition in the composite materials arena - where the company will present its innovative capabilities in this field.”