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Exone Secures $15 Million Credit Facility To Support Growth

The following excerpt is from the company's SEC filing.

Indirectly financed by Chairman and CEO S. Kent Rockwell

Revolving credit facility expandable to $30 million

Will facilitate leasing to customers of 3D printing machines and fund future working capital and other general corporate needs

NORTH HUNTINGDON, PA, October 26, 2015 The ExOne Company (NASDAQ: XONE) (ExOne or the Company), a global provider of three-dimensional (3D) printing machines and 3D printed and other products to industrial customers, announced today that it has entered into a five-year revolving credit agreement with RHI Investments, LLC, which is controlled by ExOnes C hairman and Chief Executive Officer, S. Kent Rockwell.

The agreement provides for a $15 million revolving credit facility with the opportunity, subject to certain conditions, to increase the facility by an additional $15 million. Loans drawn against the facility will bear interest at LIBOR plus 7.0%. ExOne can borrow, repay and re-borrow at any time before the expiration date. The facility, which can be terminated by the Company at any time without penalty, requires that ExOne pay a commitment fee of 1.0% per annum on the undrawn portion of the available commitment. ExOnes obligations under the credit facility are guaranteed by certain of its subsidiaries and are secured by a first priority lien on the accounts receivable, inventories and machinery and equipment of The ExOne Company, ExOne Americas LLC and ExOne GmbH.

The credit agreement permits ExOne to use loan proceeds for providing lease financing to customers of its 3D printing machines, which will increase its global installed base beyond the current 200+ machines in service, and for working capital and general corporate purposes.

I remain confident in ExOne and its binder jetting technology which applies to 3D printing for metal products used in industrial markets. We are responding to increasing opportunities for both machine sales and 3D printed products for customers as we have expanded our platforms and applications. A key benefit of this credit...


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