voxeljet AG announces review of strategic alternatives including possible merger
voxeljet AG announcing that its Management Board has, along with the Supervisory Board decided to begin a formal evaluation process for strategic alternatives to the company.
To accomplish this objective, voxeljet hired BNP Paribas as a financial adviser and Hogan Lovells International LLP to act as a legal consultant to help explore strategic options. This may include evaluating varying business and financial alternatives such as investments, mergers, acquisitions, joint ventures or strategic partnerships.
Voxeljet states that no timetable has been set for the conclusion of the strategic alternative review. There can also be no guarantee that the review will lead to any strategic changes or outcomes, including any transactions.
The company has stated that it will not make any more public comments regarding the strategic review until and unless the Boards approve a specific action or until they determine that additional disclosure is required by the law or otherwise deemed to be appropriate.
It is almost exactly 10 years since voxeljet first went public, in September 2013. The company filed its 100-million-dollar Initial Public Offer with the US Securities and Exchange Commission. The Nasdaq Stock Exchange has listed the company since August 2020. This was when it announced their decision to transfer from NYSE to NASDAQ.
In April 2020, voxeljet was issued a non-compliance notice by the New York Stock Exchange. The notice stated that the company was not in compliance with Section 802.01C of the NYSE’s Listed Company Manual due to the average closing price of the company’s American Depositary Shares had fallen below 1.00 USD per share over a period of 30 consecutive trading days.
voxeljet, a leading manufacturer of inkjet printer heads, announced a collaboration with Xaar in 2015. The partnership was to develop high speed sintering technologies. Xaar’s 3D printing division was acquired by Stratasys in 2021. voxeljet, a subsidiary of Stratasys, announced a partnership in 2020 with Covestro. This company was acquired by Stratasys as well in 2022.