Massivit 3D Printing Technologies Completes Initial Public Offering on Tel-Aviv Stock Exchange and Raises 169 Million NIS
Lod, Israel, 8th March 2021 – Massivit 3D Printing Technologies (Tel Aviv Stock Exchange: MSVT), the leading provider of large-volume 3D printing systems, has announced that it has successfully completed its initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE). The company has raised NIS 169 Million with a pre-money valuation of circa NIS 490 Million and a post-money valuation of circa NIS 660 Million. As part of the offer to institutional investors, the company received a demand of circa NIS 249 Million. Leading institutional entities in the Israeli market have invested in the current IPO.
Massivit 3D was founded with a vision to overcome three fundamental market barriers that have – until now – prevented the manufacturing arena from evolving: production speed, production size, and versatile industrial materials. The company’s portfolio of 3D printing systems – comprising large-volume hardware, printing materials, and integrated software based on sophisticated algorithms – has been developed to respond to these critical market needs. The company is backed by 50 patent assets.
Massivit 3D’s CEO, Erez Zimerman, commented: “We are thrilled to join the TASE and are delighted with the significant trust we have gained from the capital market, that has led to the company’s successful IPO. The demand we have witnessed as well as the investments by institutional entities testify to the market’s substantial evaluation for the solution that Massivit 3D provides and the technological value that we bring to the market.”
Mr. Gershon Miller, Massivit 3D’s Chief Innovation Officer and co-founder, said “Massivit 3D’s groundbreaking technology has already been leveraged across 40 countries. The company is operating in multiple, rapidly growing markets which are expected to reach circa US$ 73 Billion by 2025. We are also confident that our current technological developments will transform the manufacturing market as we know it, enabling many industries to expedite their production processes and lead times. As part of the company’s plan for growth, the funds raised will be leveraged to continue innovating vital and disruptive technology that address pertinent market gaps.”
Massivit 3D’s IPO was accompanied by the underwriting firm Poalim IBI and by the attorneys, Efrati Galili Confino & Co. Mr. Erez Zimerman is Massivit 3D’s CEO, Mr. Gershon Miller is Massivit 3D’s Chief Innovation Officer and co-Founder, Mr. Igor Yakubov and Mr. Moshe Uzan are Massivit 3D’s co-Founders, Mr Amit Harari is Massivit 3D’s CFO.
About Massivit 3D Printing Technologies
Massivit 3D Printing Technologies Ltd. (www.massivit3D.com) is a pioneer of large-volume 3D printing systems for the Automotive, Marine, Rail, Architecture, and Entertainment industries. The vision of the company is to transform large-volume manufacturing from traditional, legacy processes to digital manufacturing by providing fast 3D printing technology and a range of industrial materials. Massivit 3D’s solutions enable rapid, cost-effective production of full-scale prototypes, molds and parts. Founded in 2013 by a team of 3D printing and 2D printing experts, Massivit 3D is headquartered in Lod, Israel and provides its customers across 40 countries with end-to-end services, supported via an extensive global dealer network.
MASSIVIT 3D MEDIA CONTACT:
Head of PR & Communications
Gelbart-Kahana Investor Relations
Phone: +972 542613424
Fax: +972 8 690 0758