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.
Manuevo – a subsidiary of WVS International Inc. – will continue operating using the Shapeways name less than five months after the company launched in the wake of Shapeways' bankruptcy.
The company will use the funds to drive the expansion of its customer support infrastructures, strengthen its global footprint, and accelerate the growth of its product portfolio.
