Proceeds from sale fund working capital and general corporate purposes
By Devika Patel
Knoxville, Tenn., Jan. 11 – ExOne Co. negotiated a $13 million registered direct offering of stock with Rockwell Forest Products, Inc. on Jan. 10, according to an 8-K and prospectus supplement filed Monday with the Securities and Exchange Commission.
The company will sell 1,423,877 common shares at $9.13 per share. The price per share is a 5.79% premium to the Jan. 8 closing share price of $8.63.
Settlement is expected Jan. 13.
Proceeds will be used for working capital and general corporate purposes.
Upon settlement, the company plans to terminate its $15 million, five-year revolving credit facility with RHI Investments, LLC. There are no borrowings outstanding.
Based in North Huntingdon, Pa., ExOne is a provider of three-dimensional printing machines and printed products to industrial customers.
| Issuer: | ExOne Co.
|
| Issue: | Common shares
|
| Amount: | $13 million
|
| Units: | 1,423,877
|
| Price: | $9.13
|
| Warrants: | No
|
| Investor: | Rockwell Forest Products, Inc.
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 13
|
| Stock symbol: | Nasdaq: XONE
|
| Stock price: | $8.63 at close Jan. 8
|
| Market capitalization: | $108.93 million
|
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