XTPL has announced that investors have paid for all 300,000 of the offered ordinary bearer series X shares. The issue price of one share was set at 92.00 PLN, which means that the offer’s gross value was 27.6 million PLN. The discount level, expressed by the average volume-weighted turnover for the rate from the 30-day period before establishing the issue price for one share, was 9.2%. XTPL’s offering attracted considerable interest from investors intending to subscribe for the company’s shares. The funds raised from the share issue will allow for the completion of the implementation of the XTPL Strategy for 2023-2026, adopted last year, which is aimed at a tenfold increase in commercial revenues to 100 million PLN in 2026. The Investment Company and Demand Book Manager was Trigon Dom Maklerski S.A.
The XTPL offer included 300,000 ordinary bearer series X shares issued by the company in a private subscription, which, after a successfully completed demand book building process and subscription of the shares by investors, will represent 11.3% of the company’s shares. The series X share offer was directed to investors selected by the company’s Board on the terms provided for in the issuance resolution.
“Investors paid for all, i.e., 300,000 series X shares. We are also pleased with the modest market discount level of 9.2% compared to the volume-weighted average turnover for the rate from the 30-day period before establishing the issue price for one share. This confirms the high interest in XTPL’s offer, and we are pleased to be among the few companies that have raised the expected capital for further development in the currently demanding environment. We maintain our goal of a significant, tenfold increase in commercial revenues to 100 million PLN in 2026 and will complete the investment process started last year, strengthening three key areas: sales, production, and R&D. We expect that 2025 will be a breakthrough year for XTPL, and our technology will see its first industrial implementation with a global partner – a leading manufacturer of advanced electronics. In this achievement and milestone for the company’s development, individual and institutional investors from Poland and abroad who participated in the series X share offer will participate. Thank you for recognizing our potential and for the trust shown. Thanks to it, we can build a global technology company in Poland and aim to become a global standard in the manufacture of modern electronics of future generations,” comments Filip Granek, President of the Board of XTPL S.A.
In May last year, XTPL announced a plan to tenfold increase commercial revenues to 100 million PLN in 2026, and in November 2023, it adopted the Strategy for 2023-2026, which prepares the company to achieve the set financial goal. XTPL plans to invest approximately 60 million PLN in 2023-2026 to accelerate and intensify the company’s development, including increasing its manufacturing capabilities, strengthening sales operations, and increasing R&D initiatives. The first stage of these investments has already been completed, and the source of its funding was last year’s series V share issue, from which XTPL raised 36.6 million PLN gross. The funds raised from the series X share issuance will enable the completion of the last stage of the investment process, creating conditions for reaching 100 million PLN in commercial revenues by 2026.
“The funds we raised from the series X share offer will be used to complete the final stage of XTPL’s investment process, aimed at scaling up our commercial revenues to 100 million PLN in 2026 as part of the implemented 2023-2026 Strategy. The key areas to strengthen in, where we will concentrate are: sales, production, and R&D. In the short term, the company’s key focus will be the first industrial implementation of our technology with a global partner, a leading manufacturer of modern electronics, and an increase in orders in the area of Delta Printing System (DPS) devices, including those made for our US customers thanks to the demonstration and sales facility opened in Boston last November. In the medium term and within the horizon of the current Strategy, we are preparing to start commercializing the next business line, which will be DPS+ devices, filling the niche between DPS devices and modules for industrial implementations. In the long term, and in relation to the industrial implementations that are key to us, a crucial part of XTPL’s future offer will be a multi-head print cartridge developed as part of R&D work – opening up potentially entirely new application fields, segments, and customers. Thus, an intense period lies ahead for XTPL in every time scope, but we are well-prepared for these challenges, and the funds raised will allow us to carry out investments and goals arising from the 2023-2026 Strategy, to the benefit of the company and its shareholders,” says Jacek Olszański, Board Member in charge of finance at XTPL S.A.
XTPL’s business model is based on three complementary business lines. These include modules for industrial implementations on production lines of global electronics manufacturers, prototype Delta Printing System devices (a new line of DPS+ devices addressing the niche between DPS devices and modules for industrial implementations is being developed) and High Performance Materials (HPM, nanopastes). The company has 9 projects at least at the second stage of processes aimed at industrial implementations of its technology (initial contact completed and customer needs identified, technology evaluation and development started by XTPL), the most advanced of which are 4 projects covering strategic areas for the company: semiconductors and displays. The total potential of these 9 industrial projects, assuming their positive validation and implementation, the company estimates at about 400 million PLN of average annual revenues in the time horizon of their execution, depending on the specifics of particular projects. The end clients are global entities responsible for the production of the next generation’s electronics, including a leading machine producer for the modern display industry from China, a leading semiconductor manufacturer from Taiwan, one of the world’s largest FPD (Flat Panel Display) producers from South Korea, and a leading industrial machine manufacturer listed on Nasdaq 100 from the USA.
Source: https://managerplus.pl/xtpl-pozyskal-276-mln-zl-w-ramach-oferty-akcji-serii-x-celem-przeskalowania-sprzedazy-komercyjnej-do-100-mln-zl-65817
