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TheStreet Open House

Why Voxeljet AG (VJET) Stock Is Down Today

NEW YORK (TheStreet) -- Voxeljet AG  (VJET) dove to a one-year low of $15.25 as of 10:17 a.m. on Friday after the industrial 3D printing systems manufacturer priced an offering of American Depositary Shares.

The company priced 3 million shares at $15 per ADS. The offering should close on April 16 and includes a 30-day option for underwriters to purchase up to an additional 450,000 shares. 

Voxeljet expects net proceeds of $41.4 million from the offering, which it plans to use for research and development, sales and marketing, the expansion of its on-demand parts service center and the construction of new ones.

The stock was down 16.06% to $15.57 at 10:17 a.m. More than 2.5 million shares had changed hands, well above the average volume of 489,940.

Must Read: Warren Buffett's 10 Favorite Growth Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. VJET Chart

VJET data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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