Moreover, voxeljet sold a used car in the first quarter of 2021 to Susanne Ederer-Pausewang amounting to kEUR 27, who is the wife of Dr. Ingo Ederer, the Chief Executive Officer of voxeljet.
In addition, voxeljet employed Lisa Franz, who is the daughter of Rudolf Franz, the Chief Operating Officer and Chief Financial Officer of voxeljet, as an intern between October 2021 and February 2022. She received a salary of kEUR 1 in the nine months ended September 30, 2022.
All related party transactions voxeljet entered into were made on an arm's length basis.
14. Subsequent events
Capital Increase
On October 13, 2022, the Company announced that it has completed its registered direct offering and sale of 1,279,070 ordinary shares in the form of ADSs at a purchase price of USD 3.44 (EUR 3.60) per share.
The gross proceeds of the offering amounted to approximately USD 4.4 million (EUR 4.6 million). The Company intends to use the net proceeds of the offering for general corporate purposes. A.G.P./Alliance Global Partners acted as sole placement agent for the offering.
Closing of sale and leaseback transaction regarding properties in Friedberg, Germany
On August 11, 2022, voxeljet initiated the sale and leaseback of voxeljet AG’s properties located in Germany with the investor IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH. The closing process with the notary has been finalized on October 31, 2022. In this course, voxeljet received proceeds from the sale amounting to € 26.5 million and the long-term lease contract commenced. As a result of completion of the sale and leaseback transaction, the Company derecognized a carrying amount of approximately € 14.1 million relating to land and buildings and recognized a right of use asset and lease liability at an amount of approximately € 9.2 million and approximately € 17.3 million, respectively. The gain from the sale and leaseback transaction amounted to approximately € 4.3 million.
Settlement of Finance Contract with the EIB and of further loans with Sparkasse Schwaben-Bodensee
Also on August 11, 2022, voxeljet initiated the full settlement of the Finance Contract with EIB including the repayment of tranche A and B1, including all interests for an amount of € 22.0 million and also agreed to an early settlement of loans related to properties, which were granted by Sparkasse Schwaben-Bodensee, Germany (formerly Kreissparkasse Augsburg). On the closing date October 31, 2022, voxeljet fully settled the Finance Contract with EIB including the repayment of tranche A and B1 and all interests for an amount of € 22.0 million. Also on October 31, 2022, voxeljet early settled the loans related to properties, granted by Sparkasse Schwaben-Bodensee, Germany (formerly Kreissparkasse Augsburg) for an amount of € 3.1 million. As a result of the settlement, the Company was released from all the covenants in the Finance Contract, including a Minimum Cash/Cash Equivalents requirement (the “Minimum Cash Covenant”) and the pledges of certain properties were removed.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221117005971/en/
Contact:
Investors and Media
Johannes Pesch
Director Investor Relations and Business Development
johannes.pesch@voxeljet.de
Office: +49 821 7483172
Mobile: +49 176 45398316
