Falcon Minerals Ltd (ASX:FCN) has signed a revised agreement for the acquisition of 100% of the issued capital of Robo 3D, a U.S. based 3D printer manufacturer.
The original proposed transaction was for the acquisition of 51% of Robo 3D.
Founded in 2012, ROBO 3D designs, manufactures and sells desktop 3D printers and associated products to the consumer segment of the 3D printing industry.
3D printing or additive manufacturing is the process of creating three dimensional solid objects from a digital file.
Robo3D is experiencing strong growth across its business, generating a revenue of US$4.6 million in the twelve months ending June 2016, compared to US$2.4 million over the prior comparative period.
Sales to date was primarily achieved through online sales channels, including Amazon and robo3d.com.
Robo 3D is now pursuing an aggressive sales expansion program aimed at leading “bricks & mortar” retailers such as Best Buy, Costco, Staples, Target and Walmart.
3D printer shipments are predicted to more than double every year between 2016 and 2019, by which time worldwide shipments are expected to reach more than 5.6 million.
As part of the transaction, Falcon will undertake a capital raising to raise a minimum of $4 million, with oversubscriptions of $2 million available in order to raise up to a maximum of $6 million.
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