voxeljet AG (NASDAQ: VJET), a provider of high-speed, large-format 3D printers and on-demand parts services to industrial and commercial customers, announced it has entered into a sale-leaseback arrangement expected to generate approximately €26.5 million in gross proceeds. The Company plans to use the proceeds from this transaction to repay its financial liabilities. The transaction is expected to close towards the end of the third quarter 2022.
The sale-leaseback transaction involving the Company’s 135,380 square foot facility in Friedberg, Germany, was entered into with an institutional, unaffiliated real estate investor, and is subject to regulatory approvals in the Federal Republic of Germany. The leaseback of the facility provides for a fifteen-year lease commitment with two consecutive five-year extension option periods.
“As we continue on our path towards profitability, this sale-leaseback transaction aligns with our objective to source non-dilutive financing,” said Rudolf Franz, COO & CFO of voxeljet. “We plan to use the proceeds to repay our outstanding financial liabilities and focus on our main business, which is developing, manufacturing and selling high-tech, industrial 3D printers.”
The Friedberg facility serves as voxeljet’s headquarters as well as its center of excellence for research, development and production of the Company’s 3D printing systems.
For more information about voxeljet, please visit www.voxeljet.de.
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