XJet to go public on NASDAQ via IPO
XJet, Rehovot, Israel, has completed preliminary filings that confirm its intention to go public on the Nasdaq stock market. According to the The Times of Israel, the company hopes to raise approximately $10 million from this IPO (initial public offering) from the sale of two million shares at $4-6. Details of the listing can be found here.
“Despite market conditions, we believe going public is the best platform for us to access capital and to scale up the company as our products are ready,” Yair Alcobi, XJet CEO, told The Times of Israel. He explained that the proceeds will be used for “scaling up, sales and marketing, and for R&D manufacturing purposes.”
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XJet’s NanoParticle Jetting, a sinter-based Additive Manufacturing technology, is able to produce highly complex metal and ceramic parts with a fine surface finish. By using nanoparticles that are jetted in a suspension – and substantially less binder than processes such as metal Binder Jetting (BJT) – the technology is reported to allow XJet to achieve superior material density at lower sintering temperatures, saving energy and resulting in less shrinkage and deformation.
