Technology
Voxeljet Offering: Insiders Selling Out, Even After 60% Drop
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Source: Thinkstock
The company reported fourth-quarter earnings on Thursday and, at the same time, registered another 4.25 million ADSs with the U.S. Security and Exchange Commission (SEC). The preliminary filing did not include a price, nor did it say if or when the ADSs would be issued. The registered ADSs would represent 850,000 ordinary shares.
The filing is setting the groundwork for sales by seven current shareholders. According to the filing, the lock-up period on insider selling ends 90 days from the date of this filing. As of March 1, Voxeljet had 3.12 million ordinary shares outstanding, and these seven owned 963,000. The filing does not indicate how many shares the selling shareholders plan to sell.
At the end of December, Voxeljet had just over 3 million ordinary shares outstanding, equal to a total of 15 million ADSs. Not all the ordinary shares are held as ADSs of course, as the company also trades on German exchanges.
Voxeljet shares traded down about 0.3% in the first half-hour of trading Friday, at $25.60 in a 52-week range of $19.30 to $70.00.
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