InvestmentPitch Media Video Discusses Nextech AR Solutions’ Planned IPO Spinoff of its 3D Design Studio, Targeting the Multi-Billion Dollar Computer Aided Design Market

Rhea-AI Summary

Nextech AR Solutions Corp. (OTCQB:NEXCF) announced plans to spin off its Toggle3D assets into a subsidiary, aiming for an IPO in early 2023. Shareholders will receive shares in the new company, pending legal considerations. Toggle3D is an innovative web application enabling users to design and publish 3D models without downloads or technical expertise. The spinoff follows a successful launch of ARway Corporation, which peaked at $2.95. Nextech holds 13 million ARway shares, contributing approximately $26 million to its market cap. The global computer-aided design market is projected to grow significantly through 2030.

Positive

• Planned spinoff of Toggle3D expected to unlock shareholder value.
• Toggle3D identified as a potential game changer in the CAD market.
• Nextech's holdings in ARway Corporation valued at approximately $26 million.

Negative

• None.

VANCOUVER, British Columbia, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Nextech AR Solutions Corp. (OTCQB:NEXCF) (CSE:NTAR) (FSE:N29), a Metaverse company and leading provider of augmented reality experience technologies, wayfinding technologies and 3D modeling services, plans to spinoff its Toggle3D and associated assets to a subsidiary, with an IPO exchange listing planned for early 2023. Current shareholders will receive shares of the new company, following a plan of arrangement, which is subject to final tax and other legal considerations.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company along with video comments from Nextech AR’s CEO, Evan Gappelberg. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Nextech” in the search box.

This follows the highly successful spin out of ARway Corporation in October, which traded as high as $2.95. With ARway currently trading at $2.00, Nextech’s holdings of 13 million shares of ARway are also contributing about $26 million to Nextech’s market capitalization.

Launched in September, Toggle3D is an AR enhanced standalone web application which means the user can access everything on the browser and start designing instantly. No desktop downloads involved, no updates to keep track of, and no system requirements to worry about. All the templates are organized into project panels that a user can access anywhere and seamlessly navigate. This enables product designers, 3D artists, marketing professionals and eCommerce site owners to create, customize and publish high-quality 3D models and experiences without any technical or 3D design knowledge.

The company believes that Toggle3D is the first platform of its kind, and this break-through SaaS product is a potential game changer for the manufacturing and design industry, as it provides a viable solution to convert large CAD files into lightweight 3D models at affordable prices and at scale.

According to a recent report by Research and Markets, the world’s largest market research store, the global computer aided design market is expected grow from US$9.89 billion in 2022 to US$17.47 billion by 2030, a compound annual growth rate of 6.9%.

The shares are trading at $0.97. For more information, please visit the company’s website at www.NextechAR.com. Investor Relations is handled by Lindsay Betts, who can be reached at 866-274-8493 Ext 7201 or by email at investor.relations@nextechar.com.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

Disclaimer

The information in this Investmentpitch Media Ltd video is for the viewers information only. Nextech AR Solutions has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What is the spinoff plan for Nextech AR Solutions Corp. (NEXCF)?

Nextech AR Solutions Corp. is planning to spin off its Toggle3D assets into a subsidiary with an IPO anticipated in early 2023, allowing current shareholders to receive shares in the new entity.

How will the Toggle3D web application benefit users?

Toggle3D allows users to design and publish high-quality 3D models without needing downloads or prior technical expertise, simplifying the design process.

What is the market potential for Toggle3D?

The global computer-aided design market is expected to grow from $9.89 billion in 2022 to $17.47 billion by 2030, offering significant opportunities for Toggle3D.

What is the current market value of Nextech's holdings in ARway?

Nextech AR Solutions holds 13 million shares of ARway Corporation, contributing approximately $26 million to its market capitalization.