BigRep is to be sold and delisted from the Frankfurt Stock Exchange, with its holding company then liquidating.
The decision has been made by the company's management and supervisory boards, with BigRep GmbH shares set to be sold to De Krassny GmbH, Koehler Invest GmbH, and Hage Holding GmbH.
An extraordinary general meeting of shareholders will be held for the purpose of approving the sale of the business and liquidation of the holding company.
The sale, a BigRep press release says, will be effected at ‘fair market value’ on the basis of an independent valuation of BigRep GmbH, and will also be subject to customary closing conditions. It goes on to say that, following the realisation of all assets and liabilities of the company, any remaining surplus of assets or proceeds shall be distributed to the shareholders in accordance with applicable law.
BigRep listed on the Frankfurt Stock Exchange in 2024, after agreeing a merger with special purpose acquisition company (SPAC) SMG Technology Acceleration SE. The company stated at the time that the transaction and public listing would allow it to pursue a buy-and-build strategy, with ‘current market conditions’ increasing consolidation pressure and ‘giving us a chance to use our public listing to benefit our shareholders.’
Weeks before the announcement of the SPAC deal, BigRep had secured a deal to acquire large-format 3D printing firm HAGE 3D, an example of the consolidation the company expected to see continue. Though it launched a new hardware product earlier this year, and secured partnerships with the likes of Endless Industries, Massive Dimension, and FH JOANNEUM in the last 12 months, the company has little to show for its buy-and-build strategy.
Should the sale of the company go through as expected, BigRep is set to continue operating under new management. There has so far not been any detail provided on the management structure or personnel moving forward.
