voxeljet board approves capital increase of up to EUR1.1M
The board of voxeljet approved, with the consent of the supervisory board, a capital increase against cash contributions under exclusion of the subscription rights of the existing shareholders in an amount of up to EUR1.1M. The company's capital is to be increased through the partial use of its authorised capital approved by the ordinary shareholders meeting on May 30, 2018, which currently amounts to EUR3,720,000 by up to EUR1,116,000 to up to EUR4,836,000. In conjunction with the capital increase, the company will issue new registered ordinary shares with attached dividend entitlements for the financial year 2018, which will be offered in the form of American Depositary Shares. Each ADS represents one-fifth of an ordinary share. The offering period for the ADSs will run from 15 to on or about 18 October 2018. The ADSs are listed on the New York Stock Exchange. The company intends to implement the capital increase in two tranches. As part of the main share tranche, up to 972,000 ordinary shares will be issued and offered in the US capital markets in the form of up to 4,860,000 ADSs to institutional investors. In addition, the transaction features an over-allotment option of up to an additional 144,000 ordinary shares to be offered in the form of up to 720,000 ADSs. The offer price is expected to be set and announced by the management board on October 19, 2018.