After announcing plans to sell 4M shares (3M from the company, 1M from existing holders) on Monday afternoon Voxeljet (VJET) has decided to sell just 3M (all from the company itself) at a price of $15. Underwriters have a 450K-share overallotment option.
The offering price is19% below yesterday's closing price of $18.55, and 38% below Monday's closing price of $24.35. Voxeljet expects net proceeds of $41.4M.
Shares have made new post-IPO lows, and are closing in on an October IPO price of $13. An April 16 lockup expiration looms.