NexTech3D AI, a publicly traded, artificial intelligence powered 3D visualizations company, announced the closing of the first tranche of its private placement offered under an agency agreement with Haywood Securities Inc.
The company offered up to 11,000,000 non-transferable common shares at a price of $2.00 per share. Haywood Securities, an independent securities broker, acted as the sole underwriter of the placement. The company also agreed to indemnify Haywood Securities from any losses it may suffer due to any material errors or omissions in the information provided by NexTech3D AI.
The proceeds from the sale of these common shares is estimated to be around $22,000,000 and will be used for general working capital. The company is planning to use the funds to acquire proprietary technologies and build out its virtual reality platform, additionally, to expand sales and marketing, general corporate purposes and for working capital.
NexTech 3D AI specializes in 3D visualization tools and leveraging Artificial Intelligence to create advanced and personalizable 3D experiences that help businesses and marketers to better engage with their target audiences. The company offers a suite of products that help customers to create cutting-edge 3D video and virtual reality content for product packaging, digital marketing, product mock-ups, virtual asset trading, e-commerce product launches, and other uses.
These 3D visualizations are set to revolutionize the e-commerce industry, creating more interactive products that will help marketers gain entrance into the virtual realm. Additionally, NexTech’s AI platform is designed to capture the user’s intent creating a personalized experience that will increase customer engagement and sales.
The company has also worked with leading international companies, such as Microsoft, Amazon, Virgin, Disney, Samsung, McDonalds, and others, to create exciting 3D experiences for their customers.
The closing of the first tranche of its private placement is a major milestone for NexTech 3D AI that will allow it to continue the development of its 3D visualization and AI platform. This will give the company the necessary funding to continue creating exciting 3D experiences that will revolutionize the eCommerce industry.