Daily News: April 21, 2014

Hastings Represents Citigroup/Piper Jaffray in voxeljet IPO

Paul Hastings announced that it advised Piper Jaffray and Citigroup as joint book-running managers on the follow-on public offering of voxeljet AG, a German provider of high-speed, large-format 3D printers and on-demand parts services to industrial and commercial customers.

The follow-on offering of 3,000,000 American Depositary Shares (ADS) was priced at $15 per ADS. Certain of the company’s shareholders have granted the underwriters a 30-day option to purchase up to an additional 450,000 ADSs at the public offering price, less the underwriting discount, to cover over-allotments, if any. The offering raised gross proceeds of approximately $45 million for the company.

The company intends to use the net proceeds of the offering for research and development initiatives, sales and marketing initiatives, potential further expansion of its on-demand parts service center, the establishment of new on-demand parts service centers in North America and Asia and for general corporate purposes including, without limitation, potential acquisitions.

Co-managers in the offering included Cowen and Company and Stephens.

Corporate partners William Schwitter and Karl Balz and associate Shehzad Siddiqui led the Paul Hastings team, which also included Todd Schneider and Donald Boyajian.