The metal additive manufacturing company says Sidwell will ‘support the company's growth objectives and lead its sales and business development teams’ and ‘achieve its new corporate vision.’
Desktop Metal has filed a second lawsuit against Nano Dimension, with the company now alleging that Nano breached the terms of their merger agreement when it moved to acquire Markforged last September.
Existing investors Techstart, Innovation Ulster Limited, and Clarendon were joined in the fund-raising effort by three new investors: 57 Stars, Whiterock, and Innovate UK.
It comes after the company denied it had entered bankruptcy in November, responding to rumours that were sparked by its decision to pull out of the Formnext exhibition at late notice.
Velo3D has come under new ownership after Arrayed Additive, Inc. exchanged approximately 22.4 million USD (81.7%) of its outstanding senior secured notes & 369,USD of accrued interest for 185,151,333 newly issued shares of the company's stock.
For the company's new management team it represents a 'second step' of their plan to relaunch the Shapeways brand and service offering, and will allow creators to monetise their digital designs.
These changes at board level will cast fresh doubt as to whether the impending acquisitions by Nano Dimension of Desktop Metal and Markforged will be concluded, since Murchinson is believed to be sceptical of the mergers.
In light of the sale, 3D Systems says it will 'sharpen its focus' on software solutions that 'accelerate adoption of 3D printing technologies in large-scale, production application environments.'
Stern will continue to serve as the company's CEO, but failed to gain approval for his reappointment to the board at Nano Dimension's Annual General Meeting last week.
Spectroplast plans to use the funds to intensify its existing customer relationships, while establishing its patented silicone materials in other industries.
The purchase agreement is worth around 20 million EUR and is subject to customary closing conditions, including the approval of Voxeljet’s General Meeting and foreign investment clearance in Germany.
