ExOne Continues String of Winning IPOs
A maker of 3D printing machines, The ExOne Co. (NASDAQ: XONE), held its initial public offering (IPO) today. The shares were offered at $18 and climbed 45% before pulling back a bit in the late morning. The company sold 5.3…
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The relatively new field of 3D printing generated one stock that boomed in the last 12 months, 3D Systems Corp. (NYSE: DDD), which rose nearly 300%. ExOne is hoping to duplicate that success, and judging by today’s IPO, many investors believe that the company may well make the grade.
Net proceeds of around $77.6 million will be used to repay a revolving credit line of $9.8 million, to purchase $3 million of related businesses, and “ to invest in further improving the efficiency and capacity of our machines and expanding the number of materials from which we can make products, to increase the number of locations of our PSCs and for working capital and other general corporate purposes.”
Shares are trading currently at $25.29, up 40.5% from the IPO price.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.