voxeljet AG Announces Restatement and Extension of Loan Financing with Anzu
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The amendment and restatement of the existing loan note by voxeljet AG and the issuance of a new loan note, are significant financial events for the company. The restructuring of debt often indicates a strategic move to improve liquidity and manage cash flows. In this case, the net loan proceeds are earmarked for financing the operative business and for the delisting and deregistration of its American Depositary Shares (ADSs). The delisting process suggests a shift in the company's capital market strategy, potentially to focus on private funding sources or other markets. The terms of the New Loan Note, including the provision for an earlier repayment in case of a 'fundamental change', introduce a conditional element that investors should monitor closely, as such clauses can affect the company's financial stability and investor returns.
From a legal perspective, the private placement of the New Loan Note under Section 4(a)(2) of the U.S. Securities Act of 1933 indicates a targeted approach to raising capital without the regulatory burdens of public offerings. The absence of registration under the Securities Act means that the New ADRs are subject to restrictions on their sale, which can limit liquidity for investors. It is also important to note the collateral provided to secure Anzu's claims under both notes. The security package is a critical factor in assessing the risk profile of the debt, as it can affect the recovery rate in the event of default. The implications of the delisting and deregistration of ADSs should be considered, as it may affect the company's transparency and the ability of U.S. investors to trade the securities.
From a market perspective, voxeljet AG's actions can be seen as a maneuver to optimize its financial structure amidst a dynamic industrial technology sector. The additional capital infusion could be a response to competitive pressures or a need to invest in research and development. However, delisting from a major exchange like NASDAQ typically reduces a company's visibility among investors and can lead to reduced trading volumes for its securities. This could impact the stock's liquidity and potentially its valuation. Stakeholders should assess the rationale behind these strategic decisions and their alignment with the company's long-term growth objectives.
FRIEDBERG,
The New Loan Note has a principal amount of
Customary collateral has been provided to secure Anzu’s claims under the New Loan Note as well as under the Existing Loan Note.
The Company will use the net loan proceeds for financing of the operative business and for effecting the delisting and deregistration of its ADSs.
Important Additional Information
This press release does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such offer, solicitation or sale would be unlawful.
This announcement is neither an advertisement nor a prospectus and does not constitute a recommendation with respect to the securities described in this announcement.
The New ADRs were offered in a private placement under Section 4(a)(2) of the
Forward-Looking Statements
To the extent this document contains forward-looking statements, such statements are not statements of fact and are made using words such as "expect", "believe", "estimate", "intend", "strive", "anticipate", "assume" and similar expressions. These statements are an expression of the intentions, views or current expectations and assumptions of voxeljet AG and are based on current plans, estimates and forecasts made by voxeljet AG on the basis of its best knowledge, but do not constitute any statement with respect to their future accuracy. You should not place undue reliance on these statements. voxeljet AG cannot provide assurances that the matters described in this press release will be successfully completed or that voxeljet AG will realize the anticipated benefits of any transaction. Forward-looking statements are subject to risks and uncertainties, which are usually difficult to predict and ordinarily not in the domain of influence of voxeljet AG. These risks and other factors are discussed in more detail in the Company's public filings with the SEC. It should be noted that actual events or developments could materially differ from the events and developments described or included in the forward-looking statements. Statements made herein are as of the date hereof and should not be relied upon as of any subsequent date. The Company disclaims any obligation to update any forward-looking statements except as may be required by law.
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Investors and Media
Johannes Pesch
Director Business Development & Investor Relations
johannes.pesch@voxeljet.de
Office: +49 821 7483172
Source: voxeljet AG
FAQ
What is the principal amount of the New Loan Note issued by voxeljet AG to Anzu?
What is the maturity date of the Existing Loan Note?
How will the New Loan Note be made available?
What will the Company use the net loan proceeds for?
Under which act were the New ADRs offered?
