XTPL is commencing the building of a demand register as part of its X series share offering, conducted in the form of a private subscription. The company will direct the offering to take up a total of 300,000 X series bearer common shares in private subscription, aimed at investors selected by the Board of Directors, based on the provisions in its issue resolution. The issue price per X series share will be set at the end of the demand register building process, which is slated to continue until November 26, 2024. The issue resolution allows shareholders who own at least 0.5% of the company’s share capital at the end of the registration day for the Extraordinary General Meeting i.e., November 2, 2024, which took place on November 18, to take up X series shares in order to maintain their existing stake. Filip Granek, a significant shareholder and CEO of XTPL S.A., has expressed his intent to participate in the X series share offering. The Investment Firm and Demand Register Manager is Trigon Dom Maklerski S.A.
In May of last year, XTPL announced a plan to increase commercial revenues tenfold to PLN 100 million by 2026, and in November 2023 it adopted a strategy for the period 2023-2026, which is preparing the company to achieve this financial target. XTPL plans investments amounting to approx. PLN 60 million during 2023-2026, intended to intensify and accelerate the development of the Company by, among other things, increasing its production capabilities, strengthening sales activities and R&D work. The first stage of these investments has already been completed, with funds raised from last year’s V series share issue, from which XTPL raised gross PLN 36.6 million. The funds raised from the X series share issue will enable the completion of the final stage of the investment process, thereby positioning the company to achieve PLN 100 million in commercial revenue in 2026.
XTPL’s business model is built on three complementary business lines. These include modules for industrial implementations on the production lines of global electronics producers, the prototyping devices Delta Printing System (a new DPS+ device line is in the works, addressing the niche between DPS devices and modules for industrial implementations), and High Performance Materials (HPM, nano-inks). The company has 9 projects at least on the second stage of processes aimed at industrial implementations of its technology (initial contact completed and client needs identified, technology evaluation and development work initiated by XTPL), with 4 projects in the areas of semiconductors and displays proving the most advanced. The potential combined value of these 9 industrial projects, assuming successful validation, is estimated by the company at approx. PLN 400 million in average annual revenue over the projected timeframe for their execution, depending on the specific nature of the individual projects. End customers are global entities responsible for producing next-generation electronics, including a leading manufacturer of machines for the contemporary display industry from China, a leading semiconductor producer from Taiwan, one of the world’s largest FPD (Flat Panel Display) display manufacturers from South Korea, and a Nasdaq 100-listed leading industrial machine manufacturer from the USA.
The 2022 value of the rapidly growing printed electronics industry was estimated at 51 billion USD (+8% YoY), and by 2026 it is forecasted to reach 66 billion USD (as per IDTechEx). This signifies an average annual market value growth of 7% for the period 2022-2026.
The described issue comprises up to 300,000 X series bearer common shares issued by the Company, conducted in the form of a private subscription. The X series share offering will be directed at investors selected by the Board of Directors. The Demand Register Building process began on November 18, with the conclusion scheduled for November 26, 2024.
Source: https://managerplus.pl/xtpl-rozpoczyna-budowe-ksiegi-popytu-w-ramach-oferty-akcji-serii-x-48128
