voxeljet – a German manufacturer of large-format 3D printers for the production of sand casting molds, announced the decision to start a formal process of reviewing strategic alternatives for the company. The company engaged BNP Paribas Securities Corp. as financial advisor and Hogan Lovells International LLP as legal advisor to explore a full range of business and financial options, including investments, mergers and acquisitions, joint ventures, strategic partnerships or other transactions.
voxeljet says no definitive timeline has been set for completing the options review and there can be no assurance that the process will result in any transaction or any other strategic change. The company says it does not intend to make any further public comments on the strategic review unless the board approves a particular course of action or until the company determines that further disclosure is required by law or otherwise deemed appropriate.
This news comes almost exactly ten years after voxeljet went public on the US stock exchange. The company has been listed on the NASDAQ stock exchange since August 2020, when it announced its decision to voluntarily move from the NYSE. In April 2020, voxeljet received a Notice of Noncompliance from the New York Stock Exchange that it was not in compliance with Section 802.01C of the New York Stock Exchange Listed Companies Manual due to a decline in the average closing price of the company’s American Depositary Stock below $1.00 per share during the period 30 consecutive trading days.
Regardless, despite having a truly unique technology on the market, the company has been struggling with numerous financial problems for many years, deepening its operating loss.
Source: www.voxeljet.com