Home Industry Massivit has successfully completed a capital increase in the amount of USD...

Massivit has successfully completed a capital increase in the amount of USD 4.95 million

Massivit 3D Printing Technologies, a provider of industrial 3D printing systems, has announced that the company has completed a rights issue totaling $4.95 million (approximately NIS 18 million).

Participants in the rights issue included members of the shareholders’ control group, led by the Chairman of the Board of Directors, Yaron Yecheskel, who not only exercised all his rights, but also acquired additional rights in the stock market. The company’s founder, Gershon Miller, as well as the Alpha Hedge Fund and Migdal, which were already shareholders, also fully exercised their rights.

Interestingly, a company led by Tzuri Daboosh, a prominent entrepreneur and chairman of the board of Klil Industries, also participated in the capital increase and thus became a shareholder in Massivit. In addition, senior executives of the company, including Igor Yakubov, co-founder and director, Dadi Perlmutter, director, CEO Erez Zimerman and CFO Yuval Cohen, participated in the financing round.

The proceeds from the capital increase will be used for the company’s continued growth and the transaction was underwritten by Rosario Capital.

Yaron Yecheskel, chairman of the board of directors and head of the controlling shareholders group, commented: “On behalf of the members of the BOD and members of the controlling shareholders group, I would like to thank the institutional entities, Tzuri Daboosh, and all the shareholders who participated in the rights issue and conveyed their trust in the company and its managers. I feel privileged and proud to lead an Israeli company with groundbreaking technology and products.”

Erez Zimerman, Massivit’s CEO, said: “We greatly appreciate the participation of the company’s shareholders and controlling shareholders in the rights issue and thank them for their ongoing vote of confidence in the company, its managers, its employees, and the capabilities the company has developed. The funds raised will assist the company in its continued growth and implementation of its business plans, including the ongoing promotions and sales of its products to a range of industries. Among other activities, the company will participate this coming March at JEC World, the world’s leading exhibition in the composite materials arena – where the company will present its innovative capabilities in this field.”

This financing round underlines the strong commitment and confidence in Massivit 3D’s ability to continue to deliver innovative solutions in the field of industrial 3D printing and to actively shape the sector.

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