The two organisations signed a non-binding letter of intent to merge and list on the stock exchange in November 2023, with BigRep opening the trading day with a bell-ringing ceremony at the Frankfurt Stock Exchange earlier this week.
According to 3D-Fuel, this renewed independence will allow the company 'to return to the quality, reliability, and customer support' that built its reputation in the desktop 3D printing market.
The funds will be used for increased marketing spend, investments into improving manufacturing productivity and the development of a new generation of 3D printing machines based on selective laser sintering of plastics.
Velo3D has received a noncompliance notice from the New York Stock Exchange because its average total market capitalisation and stockholders equity over a consecutive 30-day period were both less than 50 million USD.
The company says the latest round of funding marks a 'crucial step' towards the widespread adoption of its metal 3D printing technology, which has been designed to enable precision tooling.
With most high-profile AM technology manufacturers still struggling to achieve consistent profits, TCT Group Content Manager Sam Davies gets a temperature check from the industry.
The news comes one week after Stern spoke bullishly during a keynote panel session at RAPID + TCT about the need for consolidation in additive manufacturing.
Nano Dimension is to acquire all outstanding shares of Desktop Metal for between 135-183 million USD, subject to the approval of Desktop Metal stockholders, regulatory approvals and certain termination rights.
The publicly listed company published a Form 8-K on July 2nd, 2024, detailing that it has filed a voluntary petition for relief under the provisions of Chapter 7 of Title 11 of the United States Bankruptcy Code.
