Massivit 3D Printing Technologies, a provider of large-format industrial 3D printing systems, has reported that it has completed a rights issue totaling ~USD 4.95 million (~18 million NIS).
For those who are not familiar with the financial jargon, please note that a rights issue is when a company offers its existing shareholders the opportunity to buy new shares at a discounted price to raise additional capital. This is a common method for companies to raise funds without seeking external investors.
In Massivit’s case, members of the controlling shareholders’ group which is led by chairman of the board of directors, Yaron Yecheskel, who exercised all his rights, purchased additional rights in the stock market. In addition, the company’s founder, Gershon Miller, as well as Alpha Hedge Fund and Migdal – both shareholders – have exercised all their rights.
Furthermore, a company under the ownership of Tzuri Daboosh – a leading business entrepreneur and chairman of the BOD of Klil Industries – exercised all its rights and became a shareholder.
Senior company officers also participated in the offering, including Igor Yakubov – founder and director and, Dadi Perlmutter,a director, the CEO, Erez Zimerman, and the CFO, Yuval Cohen.
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.”
The proceeds of the offering will be used by the company for continued growth. The offering was facilitated by the underwriter, Rosario Capital.
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