The company's current investor is unable to provide the funds that will allow the company to qualify its Apium P400 3D printer for the medical market, the sector Apium is hoping to pursue moving forward.
The funding will help Orbex ramp up the development of its Prime 19-metre-long, two-stage rocket, which has been designed to transport small satellites into Low Earth Orbit.
Velo3D has closed its recently announced ‘reasonable best efforts’ public offering of 34,285,715 shares of common stock and warrants, raising approximately 12 million USD.
MatterHackers has now established a strategic collaboration with Formlabs, which the company believes will propel its customers ‘into new and growing sectors of manufacturing and production.'
Velo3D, who has been hit with an NYSE noncompliance notice after its share price remained at below 1.00 USD for 30 consecutive trading days, will use the net proceeds from the sale of the securities for funding working capital & capital expenditures.
The agreement will allow the development of a business alliance between the two companies which will focus on the growth of Prima Additive's metal additive manufacturing technology portfolio.
GGI considers itself to be a leader in the development and manufacture of complex components via metal injection moulding, but has now moved to incorporate metal 3D printing technology into its offering.
Arevo's IP estate is said to include multiple foundational patents in carbon fibre printing, Z-strength improvement, in-situ and AI build monitoring, and hardware design.
