Robo Debuts on Australian Securities Exchange with $6 Million IPO, Fully Acquired by Falcon Minerals
California-based 3D printing company Robo (formerly Robo 3D), which makes some of the most highly-rated consumer printers available on the market today, has had a pretty exciting year. In September, they launched a highly successful Kickstarter campaign for their Robo C2 and R2 3D printers, introduced their Robo iOS App beta program once the Kickstarter was complete, and were also recently named the CES 2017 Best of Innovation Awards Honoree at the prestigious CES Innovation Awards, sponsored by the Consumer Technology Association (CTA). This is a big deal – the title of Honoree is only given to the best product or technology in each category, and the Robo R2 was ranked the highest in the 3D printing category for CES 2017 (which 3DPrint.com will also be attending next month in Las Vegas). But in other big news for the company, Robo made its debut on the Australian Securities Exchange (ASX) today, raising the maximum subscription of AUD$6 million with its successful IPO.
If you recall, Australia-based Falcon Minerals Limited announced in 2015 that they would take 51% of Robo 3D’s share capital, but this fall revised its terms, instead acquiring 100% ownership of the company, through the acquisition of all of the issued shares from Robo 3D’s major shareholder, Albion 3D Investments Pty Ltd. Today, following the commencement of trading, Falcon Minerals Limited is officially reinstated as Robo 3D Limited, having successfully completed its acquisition, and changed its ASX code from FCN to RBO earlier this week. Today’s public offer advances the 3D printing company’s vision and expansion, while also cementing its international status. It’s considered to be a good indicator of market confluence with Greater China, and both emerging and mature Asia/Pacific regions
Robo’s founders and existing employees will continue to operate the business from its San Diego headquarters, albeit with some direction from a group of accomplished consumer electronics professionals; the previous directors of Falcon Minerals Limited have resigned. Robo was originally founded in 2012 by a group of San Diego State University students. They had their first successful Kickstarter campaign that same year, and delivered the first model to customers in 2013. They are now a leading brand in the desktop 3D printing segment, and today’s public listing follows right on the heels of their recent holiday shipment of the Robo C2. Managing director of Robo Ryan Legudi says the IPO is a major victory for the company, and is highlighting its bright future in consumer electronics.
Braydon Moreno, co-founder of Robo, said, “Today’s announcement marks a huge step forward in how we continue to pursue our vision as influencers – ensuring we remain steadfast to our principles as a young and hungry team with an original mission, which has always been to give people a tactile means of expressing their full creative potential through simple, easy-to-use and next-gen 3D printing techniques.”
“Getting to this point was a monumental task – as all great things are. I’m so proud of the foresight and hard work by everyone who’ve brought this across the finish line, knowing that we’re now fully positioned to further change the landscape of 3D printing in bold, inventive new ways as the market continues to grow and evolve,” said Legudi.
According to a recent report by Gartner, Inc., they are forecasting that worldwide shipments of 3D printers are expected to more than double by the end of 2016, reaching an estimated 455,772 units, in comparison to the 219,168 units shipped in 2015. By 2020, those numbers will likely exceed 6.7 million. The need is primarily driven by educational institutions, marketing and creative departments, and enterprise engineering, all of which rely on accessible, high-quality 3D printers that cost less than $2,500. Discuss in the Robo forum at 3DPB.com.
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