AML3D Raises $3m to expand US presence
- Metal 3D printing specialist AML3D (AL3) is raising $3 million to expand its presence in the US
- The company has received commitments from sophisticated investors for the placement of 41.67 million shares at 7.2 cents per share to raise the funds
- The company will use the money to establish itself at key additive manufacturing bases in the US to service the US Navy and other tier-one clients
- The placement follows the company’s entry into the US defence industry through a $1 million sale of the ARCEMY ‘X-Edition 6700’ system to BlueForge Alliance
- AL3 shares are up 20.48 per cent to trade at 10 cents at 1:23 pm AEDT
