XJet
XJet, an Israeli startup that offers inkjet technology for 3D printing of small metal and ceramic parts, is looking to go public. The firm is planning a NASDAQ IPO in which it hopes to raise about $10 million. In its filing, XJet said that it intends to offer 2 million shares at a price of $4 to $6 per share.
The IPO is expected to come sometime before the end of 2023, but XJet has not set a specific date as of yet.
The company further stated that underwriters would be granted a 45-day option to buy up to 300,000 additional shares to cover over-allotments. Aegis Capital is serving as the single book runner for the IPO and XJet expects to list its shares under the symbol XJET.
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Founded in 2007 by Hanan Gothait, an inkjet printing industry veteran who co-founded Objet Geometries, which later merged with Stratasys, XJet is a provider of what the firm calls breakthrough ceramic and metal additive manufacturing solutions for the aerospace, automotive, medical/dental and tooling markets. XJet boasts it is “exponentially” growing in the ceramic and metal additive manufacturing markets.
XJet’s proprietary NanoParticle Jetting (NPJ) technology, boasts the firm, enables the production of metal and ceramic AM parts featuring unprecedented levels of detailing, finish and accuracy, while delivering physical, geometric and operational advantages. The key to NPJ, they explain, starts with our unique liquid dispersion methodology. Liquid suspensions containing solid nanoparticles of selected build and support materials are jetted onto the build tray to additively manufacture detailed parts. These liquid suspensions serve as the base materials for our AM process, unlike most existing metal and ceramic AM technologies that utilize hazardous and hard-to-handle powders. Our liquid suspensions are delivered and installed in hassle-free sealed cartridges.
But has not made a profit, nor does it bring in much revenue. It reported revenue of just $6 million in 2022, with a net loss of $17 million.
In its SEC filing, XJet described itself as an “emerging growth company” and a “foreign private issuer” as defined under the U.S. federal securities laws and, as such, the firm may elect to comply with certain reduced public company reporting requirements for future filings.
