3D Systems Corporation has announced that it has sold in a private placement to a group of accredited investors 1,250,000 shares of its Common Stock.
The net proceeds from the offering amounted to $20,562,500, which the company intends to use in support of its primary growth initiatives, which in the short-term include the launch of its previously announced V-Flashâ„¢ 3-D Modeler, as well as other general corporate purposes.
The purchase price of $17.50 per share represents an approximate 17% discount to the average last reported sale price of the Common Stock over the 30 trading days prior to the private placement. The total number of shares sold in the offering represents approximately 6% of the company’s outstanding shares of common stock immediately prior to the offering.
The company develops 3-D Modeling, Rapid Prototyping and Manufacturing solutions.
