Join our daily newsletter At The Bell to receive exclusive market insights
- 333D (T3D) has raised $545,000 in capital through an oversubscribed placement of roughly 363.3 million new shares at an issue price of 0.15 cents per share
- The 0.15 cents issue price per ordinary share reflects a 25 per cent reduction to the company’s closing price of 0.2 cents on December 13
- 333D is using the money to bolster its 3D printing capabilities to meet market demand
- Shares in 333D rounded off the day of trading at 0.2 cents
333D (T3D) has raised $545,000 in capital through an oversubscribed placement of 363,333,333 new fully paid ordinary shares at an issue price of 0.15 cents per share.
“The placement was undertaken after the company was approached by a group of professional and sophisticated investors who have high conviction to new technologies which have a strong digital presence,” the company said.
The 0.15 cent issue price per ordinary share reflects a 25 per cent reduction to the 333D’s closing price of 0.2 cents on December 13, 2021.
The new shares were issued earlier in the week.
The funds raised under the placement will be used to bolster the company’s 3D printing capabilities to meet market demand.
Also on the shopping list is to accelerate the curation of the digital asset library using Giant Swan, and migrate the digital asset library to blockchain and non-fungible tokens (NFTs).
The company also aims to implement new technologies that add value to its digital asset collection and increase 3D printing sales.
Funds will also be utilised for working capital for existing 3D printing operations and placement costs and assist the company in marketing its services to the burgeoning crypto arts community
ALT Partners, a licenced consulting business connected with directors John Conidi and Dr Nigel Finch, advised the company. ALT Partners will be paid a 6 per cent advising fee plus GST on gross revenues.
As part of the placement, the company will offer 80 million unlisted options to independent advisers, each with a 24-month expiration date and an exercise price of 0.2 cents.
Shares in 333D rounded off the day of trading at 0.2 cents.
