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.

More from Markets

Red Robin Slumps After Earnings Miss

Red Robin Slumps After Earnings Miss

Owner of Moviepass Sees Stock Plummet

Owner of Moviepass Sees Stock Plummet

Tiffany & Co. Sees a Strong Market in Asia

Tiffany & Co. Sees a Strong Market in Asia

Stocks Finish Higher After Release of Fed Minutes

Stocks Finish Higher After Release of Fed Minutes

General Electric's Stock Gets Routed as CEO Flannery Flubs Presentation

General Electric's Stock Gets Routed as CEO Flannery Flubs Presentation