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voxeljet to delist from NASDAQ effective April 1st

The company is accelerating strategic realignment with reiterated support from Anzu Partners

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voxeljet AG (NASDAQ: VJET) is voluntarily delisting its ADSs (American depositary shares) from the Nasdaq Stock Market terminating the registration of its ADSs with the U.S. Securities and Exchange Commission. The Company is taking these steps to reduce expenses and thereby to further strengthen its financial position.

“Yesterday after market close we have announced our plan to voluntarily delist voxeljet AG ADSs from Nasdaq and to deregister them,” CEO Rudolf Franz said in a statement. “We as well have announced existing loan financing with Anzu Partners restated and extended […]

In addition, voxeljet AG and Anzu’s industrial technology investment fund yesterday agreed to amend and restate the existing loan note which the Company has issued to Anzu with a principal amount of approximately USD 3.2 million and to agree on an additional new loan note with a principal amount of USD 5.5 million to be paid out in two tranches.

voxeljet to delist from NASDAQ effective effective April 1st, accelerating strategic realignment with reiterated support from Anzu Partners

“We will use the net loan proceeds for financing of the operative business and for effecting the delisting and deregistration of the companies ADSs,” Mr. Franz said and concluded, “Many thanks to the Anzu Partners team for supporting the next step in our company’s development and the team at Hogan Lovells for their excellent advice in a complex transaction.”

As shown in the chart below (by selecting “Max”) voxeljet stock price went from an initial peak of over $25 in the 2013-2014 period to today’s valuation of below $1 with another smaller peak at about $16 in the 2020-2021 period.

The Company has concluded that the benefits associated with a NASDAQ listing do not justify the costs and demands on management’s time necessary to comply with SEC requirements. Consequently, the Company intends to start the process to delist the Company’s shares from NASDAQ. After the NASDAQ delisting becomes effective, the Company intends to promptly initiate the process for suspending its reporting obligations under the Securities Exchange Act of 1934, as amended.

The Company intends to file a Form 25 with the SEC to effect the voluntary withdrawal of the listing of its ADSs from NASDAQ on or about March 22, 2024. Following the effectiveness of Form 25, the Company intends to file with the SEC a Form 15 to deregister the Company’s ADSs under the Exchange Act after which the Company will no longer have any reporting obligations under Sections 13(a) and 15(d) of the Exchange Act, including Forms 20-F and 6-K. The Company anticipates that the deregistration of its ADSs under the Exchange Act will become effective on or about April 1, 2024.

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