Manufacturer of industrial-grade 3D printing systems, ExOne, has just secured a $ 15 Million credit facility to provide lease financing to its customers.
The five-year revolving credit agreement with RHI Investments, LLC, which is controlled by ExOne’s Chairman and Chief Executive Officer, S. Kent Rockwell, provides $ 15 million with the opportunity to increase the facility by an additional $ 15. ExOne’s obligations under the credit facility are guaranteed by certain of its subsidiaries and are secured by a first priority lien on the accounts receivable, inventories and machinery and equipment of The ExOne Company, ExOne Americas LLC and ExOne GmbH.
The credit agreement permits ExOne to use loan proceeds for providing lease financing to customers of its 3D printing machines, which will increase its global installed base beyond the current 200+ machines in service, and for working capital and general corporate purposes.
“I remain confident in ExOne and its binder jetting technology which applies to 3D printing for metal products used in industrial markets. We are responding to increasing opportunities for both machine sales and 3D printed products for customers as we have expanded our platforms and applications. A key benefit of this credit facility is to help ExOne grow its installed machine base through additional machine leasing and to further enhance our working capital position as we transition our emerging business to a profitable, cash generating company,” said Mr. Rockwell.