NORTH HUNTINGDON, Pa.--(BUSINESS WIRE)--The ExOne Company (Nasdaq: XONE), the global leader in industrial sand and metal 3D printers using binder jetting technology, today announced it has entered into a sale-leaseback arrangement expected to unleash approximately $19 million in cash to further propel its long-term growth initiatives. The transaction is expected to close in late 2019 or early 2020.
The sale-leaseback transaction involving the Company’s 178,300 square foot facility in Gersthofen, Germany, was entered into with a private, unaffiliated real estate investor, and is subject to regulatory approvals in the Federal Republic of Germany. The leaseback of the facility provides for a three-year lease commitment with two consecutive five-year extension option periods.
“As we continue on our path toward generating net operating cash flow, this sale-leaseback aligns with our continued objective to source non-dilutive financing vehicles with minimal restrictions to support our growth initiatives,” said Doug Zemba, ExOne CFO. “In the near-term, this additional capital provides us the flexibility to further advance the marketability of our recently launched X1 25PRO™ production metal 3D printer and S-Max Pro™ production sand 3D printer. Additionally, it provides liquidity to support the development of our X1 160PRO™ large capacity metal 3D printer, which is slated to be the largest metal 3D printer in the market. With the introduction of these industrial production machines, we believe we are providing the market with game-changing options to advance and differentiate their manufacturing processes.”
The Gersthofen facility serves as ExOne’s European headquarters as well as its center of excellence for the research, development and production of the Company’s sand 3D printing systems.
About ExOne
ExOne is a global provider of 3D printing machines, 3D printed products, materials and services to industrial customers. ExOne's business primarily consists of manufacturing and selling 3D printing machines and printing products to specification for its customers using its installed base of 3D printing machines. ExOne’s machines serve direct and indirect applications. Direct printing produces a component; indirect printing makes a tool to produce a component. ExOne offers pre-production collaboration and print products for customers through its network of ExOne Adoption Centers (“EACs”). ExOne also supplies the associated materials, including consumables and replacement parts, and other services, including training and technical support that is necessary for purchasers of its 3D printing machines to print products. The Company believes that its ability to print in a variety of industrial materials, as well as its industry-leading volumetric output (as measured by build box size and printing speed) uniquely position ExOne to serve the needs of industrial customers. Visit www.exone.com for more information.
