Massivit Has Successfully Completed a ~USD 4.95 Million (~18 Million NIS) Capital Raising Through A Rights Issue

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Massivit 3D Printing Technologies Ltd.

Feb 20, 2024, 07:00 ET

LOD, Israel, Feb. 20, 2024 /PRNewswire/ -- Massivit 3D Printing Technologies (TASE: MSVT), a leading provider of industrial 3D printing systems, has reported that the company has completed a rights issue totaling ~USD 4.95 million (~18 million NIS).

Participants in the rights issue included members of the controlling shareholders group which is led by chairman of the board of directors, Yaron Yecheskel, who exercised all his rights and furthermore 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. It should be noted that 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.

In addition, senior company officers participated in the offering, including Igor Yakubov - founder and director and, Dadi Perlmutter,a director, the CEO, Erez Zimerman, and the CFO, Yuval Cohen.

The proceeds of the offering will be used by the company for continued growth. The offering was facilitated by the underwriter, Rosario Capital.

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."

Erez Zimerman, Massivit's CEO, said: "We greatly appreciate the participation of the company's shareholders and controlling shareholders in the rights issue and thank them for their ongoing vote of confidence in the company, its managers, its employees, and the capabilities the company has developed. The funds raised will assist the company in its continued growth and implementation of its business plans, including the ongoing promotions and sales of its products to a range of industries. Among other activities, the company will participate this coming March at JEC World, the world's leading exhibition in the composite materials arena - where the company will present its innovative capabilities in this field."

About Massivit 3D Printing Technologies

Massivit 3D Printing Technologies, www.massivit3d.com (TASE: MSVT), is a pioneer in large-scale 3D printing solutions for the automotive, marine, rail, furniture, and advertising markets. The company's solutions enable cost-effective production of molds and parts at unprecedented speed. The company's vision is to transform the production of large parts from traditional and outdated methods to digital production with high-speed 3D printing and industrial materials. The company was founded in 2013 by a team of experts led by Gershon Miller - founder of Objet Geometry. Massivit's headquarters are based in Lod, Israel. The company provides services to its international community via a network of distributors.

For further information, please contact:

Miri Segal
MS-IR LLC
917-607-8654
[email protected]

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SOURCE Massivit 3D Printing Technologies Ltd.