Xometry Prices $225M Stock Offering at $85/Share, Below Market Price
XMTR has more than doubled off its 52-week low of $29.6.
Summary
Xometry has priced its public offering of 2.65 million shares at $85 per share, raising $225 million in gross proceeds. This follows the proposed offering announced yesterday and the filing of a preliminary prospectus. The offering price is at a discount to the current market price, which will result in dilution for existing shareholders. This capital raise provides significant funding for the company, which recently reported strong Q1 results and a strategic partnership with Siemens.
At the time of this announcement, XMTR was trading at $88.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.9B. The 52-week trading range was $29.60 to $99.86. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.