The company had said back in April that it expected to bolster its current 3D image processing market revenue with new opportunities in 2D markets like depth sensor and video pre-processing services, a move that would reduce its reliance on the 3D market.
At that time it had revealed that it swung to a pretax loss in 2013, hit by lower shipments of its 3D imaging technology in the ailing PC market, although it also expressed confidence that it could return to growth in 2014.
"This additional funding will allow the continued expansion of our technologies into markets beyond 3D. DDD's new sensor software technology is applicable to the sizeable 2D consumer electronic device markets of PCs, tablets and smartphones. We anticipate having the first PC versions of these new technologies available for our prospective customers to evaluate early in the fourth quarter," the company said in its statement Thursday.
The notes being issued have an annual interest rate of 7%. The company has an option to redeem the notes at any time at a 5% premium to the
DDD said four of its directors or their affiliates have agreed to subscribe for notes:
In total, it had received firm commitments from related parties for the issue of
DDD shares were down 5.1% at
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