voxeljet
voxeljet AG has announced that its Management Board, together with the Supervisory Board, has decided to initiate a formal review process to evaluate strategic alternatives for the company.
To achieve this objective, voxeljet has engaged BNP Paribas Securities Corp. as financial advisor and Hogan Lovells International LLP as legal advisor to assist in the exploration of strategic alternatives, which may include a full range of strategic, business, and financial alternatives, including, but not limited to, investments, mergers and acquisitions, and joint ventures, strategic partnerships, or other transactions according to the company.
voxeljet says that there is no definitive timetable set for the completion of the strategic alternatives review and there can be no assurance that the review process will result in any transaction, or any other strategic change or outcome.
The company says that it does not intend to make any further public comment regarding the strategic review unless and until the Boards have approved a specific course of action, or until the company determines that further disclosure is required by law or otherwise deemed appropriate.
The news comes almost exactly a decade after voxeljet went public in September 2013, when it filed its 100 million USD Initial Public Offering with the US Securities and Exchange Commission (SEC). The company has been listed on the Nasdaq stock exchange since August 2020 when it announced its decision to voluntarily transfer from the NYSE to the NASDAQ.
voxeljet received a notice of noncompliance from the New York Stock Exchange in April 2020. The notice stated that the company was not in compliance with Section 802.01C of the NYSE’s Listed Company Manual due to the average closing price of the company’s American Depositary Shares had fallen below 1.00 USD per share over a period of 30 consecutive trading days.
voxeljet announced a partnership with inkjet printer head manufactuer Xaar in 2015 to develop high-speed sintering technology. Xaar’s 3D printing division was acquired by Stratasys in 2021. In 2020, voxeljet announced a partnership with materials specialist Covestro, a company which was also acquired by Stratasys in 2022.
