XJet, which makes and sells 3D printers for metal and ceramic end-use parts, lowered the proposed deal size for its upcoming IPO on Thursday.
The Rehovot, Israel-based company now plans to raise $6 million by offering 1.6 million shares at $4. The company had previously filed to offer 2 million shares at a range of $4 to $6. At the revised terms, XJet will raise 36% less in proceeds than previously anticipated.
XJet is an additive manufacturing (3D printing) company that offers technologies based on its patented Nano-Particles Jetting process, which creates extremely thin layers of ceramics or metal material and allows for the production of end-use parts that would be difficult or impossible to produce with traditional manufacturing technologies. XJet’s complete solution supports multiple industries and use cases and includes hardware, software, and consumable materials.
XJet was founded in 2005 and booked $6 million in sales for the 12 months ended December 31, 2022. It plans to list on the Nasdaq under the symbol XJET. Aegis Capital Corp. is the sole bookrunner on the deal.
