Following their original proposed transaction of acquiring 51%, Australian minerals exploration company Falcon Minerals Limited is now about to acquire 100% of US-based consumer 3D printer manufacturer Robo 3D Inc.
The revised binding term sheet was signed with Albion 3D Investments, which has secured the rights to acquire Robo 3D. Once the transaction will be completed, Falcon intents to change the company’s name to Robo 3D Technologies Limited. Both founders of Robo 3D will hold equity stakes in Falcon. Albion 3D has invested a total of $ 2.5 million in Robo 3D.
“We are really excited about the opportunity for Robo 3D to be listed on the ASX. This is the start of a new journey that will allow us to invest in growing out the business, advancing consumer 3D printing technology, and fulfilling our goal of putting 3D printers in millions of homes around the world,” Robo 3D Co-founders Braydon Moreno and Coby Kabili stated.
US-based company Robo 3D was founded in 2012 and sells their consumer 3D printers through Amazon, Best Buy, Staples and other retailers in the US.