Falcon changes terms of Robo 3D acquisition

In December 2015, Australian mineral exploration company Falcon Minerals (ASX:FCN) announced the acquisition of 51% of Robo 3D via the acquisition of 100% of Albion 3D. It seems the terms of that agreement have been altered, with Falcon announcing on the 8th of September they will be acquiring 100% ownership instead of just becoming a majority shareholder.

Robo3D. Image: Robo3D
Robo3D. Image: Robo3D

Falcon Minerals have signed a revised binding term sheet with Albion 3D for the acquisition of 100% of the issued capital of Albion 3D on a debt-free basis. Albion 3D Investments Pty Ltd, an investment vehicle, has invested $2.5 million into Robo 3D leading up to the acquisition. This means that Falcon Minerals, a public company listed on the ASX will fully acquire Robo 3D and constitute a reverse takeover, listing the private company on the Australian Stock Exchange. On completion of this transaction, Falcon proposes to change its name to Robo 3D Technologies Limited.

“We are really excited about the opportunity for Robo 3D to be listed on the ASX. This is the start of a new journey that will allow us to invest in growing out the business, advancing consumer 3D printing technology, and fulfilling our goal of putting 3D printers in millions of homes around the world.” Braydon Moreno & Coby Kabili – Co-Founders of Robo 3D

Robo 3D are a company that have had quite a few successes, and have experienced strong growth across its business. They have generated a revenue of US$4.6 million in the twelve months ending June 2016, compared to US$2.4 million over the prior comparative period. Sales so far have been mostly achieved online, on Amazon as well as their own website, but Robo 3D are pursuing an aggressive sales expansion into physical retailers such as Best Buy, Costco, Staples, Target and Walmart.

Robo R2. Image: Robo 3D
Robo R2 3D printer. Image: Robo 3D

The acquisition by Falcon Minerals will undoubtedly spark a corporate re-branding for both companies. Robo 3D is also expected to release the Robo C2 and Robo R2, two new printers, in the last quarter of 2016, which is expected to drive the growth ambitions of the 3D printing company.

Equity stakes in Falcon will be held by key executives of Robo 3D, including Braydon Moreno and Jacob Kabili, founders of the company. Finally, Forrest Capital has been appointed as Corporate Advisor to raise a minimum of A$4.0 million under the Company’s capital raising.

Robo 3d logo

About Robo 3D

Robo 3D develops, designs, manufactures and sells 3D printers and associated products to the desktop segment of the 3D printing industry. It was founded in 2012 by a group of students from San Diego State University, including Jacob Kabili and Braydon Moreno.

Falcon Minerals. Image: Falcon Minerals

About Falcon Minerals

Falcon is a mineral exploration company listed on the Australian Stock Exchange (ASX code FCN) and headquartered in Western Australia.

Feature image: Robo3D R2 Mini CES Teaser. Image: Robo3D