Business
3DX Receives $2,000,000 Capital Commitment from RB Capital
3DX Receives $2,000,000 Capital Commitment from RB Capital.
About this update from 3dx Industries Inc.
[{"type":"text","content":"\n Seattle, Oct. 12, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- 3DX Industries Inc. (DDDX) (the “Company” or “3DX”), a state of the art additive manufacturer specializing in 3D Metal Printing, announced today it received a $2,000,000 Commitment from RB Capital.   The Company has received the first $500,000 in the form of a 1 Year Convertible Promissory Note bearing an interest rate of 5% per annum. The Promissory Note has a fixed conversion price of $0.50 and cannot be converted until twelve months has passed.  RB Capital has made a follow-on capital commitment in the amount of an additional $1,500,000 to be drawn down over the next two years. Brett Rosen, managing partner of RB Capital Partners, Inc., says, \"We have been looking for a solid 3D printing company to invest in for the past two years and finally found the right Company with DDDX. After conducting our due diligence, we like everything we found about the company, the share structure, and most importantly the management team!\" Deborah Braun, managing partner of RB Capital Partners, Inc., added, \"We are thrilled to be working with 3DX Industries as we see tremendous value in their metal printing system approach to 3D printing. The opportunities in this space for continued innovation and growth via a variety of applications are immense, and we are happy to invest in a team that is well positioned to capture such opportunities in the market.\" \"Finding the right capital partner was essential to our strategy,\" stated Roger Janssen, CEO and Chairman of 3DX Industries, Inc. \"3DX Industries now has the financial support and backing to continue its growth within the additive manufacturing space and aggressively expand its manufacturing opportunities.” “I’m excited about our partnership with RB Capital,” added Nicholas Coriano, Board Member.  “Brett and Deborah care about more than simply funding a business; they care about growing our business. That is an important and rare trait in Venture Capital.  We’re extremely happy we found them and have RB Capital on our team.” About the Company: 3DX Industries, Inc. is focused on the additive metal manufacturing segment within the manufacturing industry.  3DX has the capability of manufacturing a wide variety of products u...