Xometry tumbles on convertible debt offering

Xometry

01/02/2022 15:11

** Xometry Inc  XMTR.O  shares down 15.9% at $43.39 as
3D-printing marketplace looks to raise capital
    ** Co late Mon said offering privately $250 mln 5-yr
convertible notes  urn:newsml:reuters.com:*:nGNX48wYhR
    ** XMTR plans to use net offering proceeds for working
capital, general corp purposes and acquisitions
    ** Co had ~$2.3 bln market cap as of stock's last close, per
Refinitiv data
    ** Alongside offering announcement, co said it expects Q4
rev of $65.5-$67.5 mln and gross profit margin of 27.3%-27.6%,
topping Street estimates of $62.4 mln and 26.5%, per Refinitiv
data
    ** With move on Tues, shares below co's June 2021 IPO price
of $44

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))