Paul Hastings Represents Piper Jaffray and Citigroup as Joint Book-Running Managers in Voxeljet AG's Follow-on Public Offering
New York, NY-- Paul Hastings LLP, a leading global law firm, announced today that it advised Piper Jaffray and Citigroup as joint book-running managers on the follow-on public offering of voxeljet AG, a leading German provider of high-speed, large-format 3D printers and on-demand parts services to industrial and commercial customers.
The follow-on offering of 3,000,000 American Depositary Shares (ADS) was priced at $15 per ADS. Certain of the company’s shareholders have granted the underwriters a 30-day option to purchase up to an additional 450,000 ADSs at the public offering price, less the underwriting discount, to cover over-allotments, if any. The offering raised gross proceeds of approximately $45 million for the company. The company intends to use the net proceeds of the offering for research and development initiatives, sales and marketing initiatives, potential further expansion of its on-demand parts service center, the establishment of new on-demand parts service centers in North America and Asia and for general corporate purposes including, without limitation, potential acquisitions.
Co-managers in the offering included Cowen and Company and Stephens Inc.
In October 2013, the Paul Hastings team also represented Piper Jaffray and Citigroup in the company’s US$97.2 million initial public offering of 7,475,000 American Depositary Shares (ADS) at a public offering price of $13 per ADS, which reflects the exercise of the full underwriters’ overallotment option and includes 1,875,000 ADS sold by selling shareholders.
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