Lincsolution raises $22M convertible to expand advanced-parts foundry
What's the deal? Lincsolution, a South Korean 3D-printing smart manufacturing firm, said on September 15 it will issue US$25.2M in private convertible bonds. The company plans to use the proceeds to expand its foundry business for advanced components across aerospace, defence, humanoids, and AI data centre thermal management.
The terms: The convertible bonds carry a conversion price of US$27.5 per share, a 30% premium to the reference price, with 0% coupon and maturity interest. They were issued without a refixing clause, which the company said minimises financing costs and dilution for existing shareholders.
What's the endgame? Lincsolution will build a new foundry plant, separate from its existing AM foundry in Daejeon, to boost mass-production capacity for advanced parts. It also plans a 24-hour unmanned "dark factory" that links industrial 3D-printing equipment, process data, automation, and post-processing systems.
The firm aims to convert customer proof-of-concept projects into full production and shorten the path from research to mass production.
What they're saying: "This investment is a decision to pre-emptively respond to growing production demand from advanced-industry customers," a company representative said (translated from Korean). The funds will go into the new plant, autonomous manufacturing, and mass-production technology to turn added capacity into "real revenue growth."
The signal: The raise reflects a bet that 3D-printing foundries can move from prototyping to volume production for high-value sectors such as defence and AI infrastructure. By locking in growth capital without a refixing clause, Lincsolution is signalling confidence in its share price as it scales manufacturing capacity.
Read more: edaily.co.kr
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