Investors wanting to participate in the new share issue of 3-D printing specialist ExOne (NASDAQ: XONE ) will pay $62 per share to do so. That's the price tag it has put on the nearly 2.66 million-share underwritten public offering of its common stock. Of that number, just under 1.11 million shares are being sold by the company and 1.55 million by entities associated with its top management. Additionally, the issue's underwriters have been granted an option to purchase up to an additional 398,400 shares.
ExOne said it plans to use its estimated net $64.8 million share of the issue's proceeds "to finance future acquisitions or partnerships and alliances consistent with our business strategy and for working capital and general corporate purposes." The firm will receive no monies from the sale of the shares held by the management-related entities.
FBR is the book-running manager of the offering, which is expected to close on Friday. BB&T's Capital Markets unit, Stephens, and Canaccord Genuity are the issue's co-managers.
Currently, ExOne has nearly 13.3 million shares outstanding, and its stock trades at $62.72 per share.