Additive manufacturing company AML3D Limited has launched a Share Purchase Plan (SPP) to enable current shareholders to raise funds in support of the company’s US growth strategy and to invest in the development of the ARCEMY platform.
The ASX-listed company said eligible shareholders will be invited to participate in an SPP to raise up to $400,000, with each holder able to apply for a maximum of $30,000 in new shares at a price of $0.072 per share.
By assisting in the establishment of a presence at significant US AM centres of excellence, the funds obtained through the SPP will supplement those raised in the placement and be used to drive AML3D’s US growth strategy.
The SPP represents a discount of 7.3 per cent of the volume-weighted average market price for the shares over the last five trading days.
A maximum of 5,555,555 new shares will be issued under the SPP, according to a press release.
Additionally, the funds will be utilised to create a US sales team and a US network of value-added resellers.
The company added that the funding will also support the working capital basis of AML3D and the software development of the ARCEMY system, the company’s medium to large-scale metal 3D printer.
AML3D said that in order to create the Wire Additive Manufacturing process, ARCEMY combines welding science, robotics automation, materials engineering, and proprietary software.
By carefully laying molten wire in layers, the company said ARCEMY offers a metal 3D printing solution that makes use of the internet of things (IoT), unlocking the potential of artificial intelligence and fostering the development of smart Industry 4.0 production facilities.
