AML3D raises $7M to accelerate commercialisation
- AML3D raises A$7.0m via a heavily oversubscribed private placement
- Strong participation from new and existing institutional and sophisticated investors
- The new funds will be applied to accelerate AML3D’s business development initiatives, via:
- Purchase and commission additional Production Modules to increase contract manufacturing capacity, enabling AML3D to service new customers
- Increase headcount to facilitate growth
- Working capital to pursue and execute large longer lead-time customers
AML3D Limited (ASX: AL3) (“AML3D” or “the Company”) is pleased to announce that it has received firm commitments for a share placement to raise $7.0 million (before costs) through the issue of ~15.5 million shares in the Company (the “Placement”). The Placement was heavily bid, supported by a range of new and existing institutional, family office, sophisticated and professional investors.
AML3D has continued to experience strong demand for its services, with a growing number of customers, across various sectors, progressing towards commercial manufacturing contracts. The funds raised from the Placement will ensure AML3D is well capitalised to accelerate and execute upon these large-scale customer opportunities without detracting from the key initiatives detailed in the prospectus.
Mr Andrew Sales, AML3D’s Managing Director comments:
“We are very pleased with the strong support AML3D has received from new and existing shareholders, who share our vision of deploying advanced, Industry 4.0 manufacturing technologies globally. The funds raised from this Placement will enable AML3D to accelerate and execute its various business development initiatives, which will provide a platform for further growth and continue to establish AML3D as an industry leader.”
Use of Funds
AML3D will purchase and commission additional production modules to increase the Company’s production capacity at its Adelaide facility to satisfy anticipated upcoming demand.
AML3D also intends to increase its headcount in line with the demands of the business. It is anticipated that the Company will employ engineers, designers and manufacturing assistants. These additional resources will provide a strong base for AML3D to scale significantly.
The remaining Placement funds (excluding costs) will be applied to pursue and execute large contracts, which have medium-to-long lead-times.
It is important to note, the funds raised via AML3D’s IPO have been and will continue to be utilised as per the Prospectus, which includes facility relocation and expansion (partially complete), establishment of Singapore facility, R&D initiatives and working capital.
Source: This announcement has been authorised for release by the Board of AML3D – Press Release, Company News
About AML3D Limited
AML3D Limited is an Australian public company incorporated on 14 November 2014 and currently operates out of its Adelaide Contract Manufacturing Centre. The Company specialises in providing commercial large-scale metal 3D printing services to defence, maritime, aerospace and resources customers. The Company has commercialised its technology under the trademark WAM® and proprietary software WAMSoft® which combines metallurgical science and engineering design to fully automate the 3D printing process utilising advanced robotics technology.