Polish 3D-printer firm Zortrax to raise $3.5M by issuing public bonds
Olsztyn, Poland-based 3D-printer firm Zortrax intends to raise $3.5 million by issuing public bonds, TechCrunch reported.
The company will start offering 10,000 unsecured bonds valued at PLN 1000 or $329 each. The bonds will be sold through Invista Brokerage House and will carry an interest of 9%. The bonds will carry a three-year maturity, the report said.
A CentrumDruku3D report about the matter said that Zortrax the registration period for the bonds runs from March 11 to 27 while the allotment date is March 31, 2014. In January, the company was able to secure PLN 1.2 million in January through a private bond issue. Aside from helping Zortrax with the bond sale, Invista Brokerage House will also guide Zortrax headed by its CEO Raphael Tomasiak in its shift to become a limited company and then list it on New Connect before putting it on the regulated market. If everything goes as planned, Zortrax will make history as the first maker of 3D printers to make it to the Warsaw Stock Exchange, the report said.
In addition, CentrumDruku3D also reported that Zortrax is finishing a more affordable version of their 3D printer model M200. The M120 3D printer is going to be more compact and will have a lower price. Moreover, the company is said to hold advanced talks about big orders for their 3D printer with major clients. The company is also forming its sales network in Poland and worldwide to facilitate better distribution of its products and service, the report said.
Zortrax made headlines in January this year when Zortrax obtained an order of 5,000 units from Dell. Tomasiak told TechCrunch then, "Frankly speaking, we were surprised that any company, even a company like Dell, wants to place such an order! But after a while we realized how many printers we use in our own office... For a designer who prints a large number of prototypes it is much more useful to use 10 smaller printers on one desk, which operate simultaneously, rather than one with a larger build volume."