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Robo 3D debuts on the ASX at higher than IPO price

The US 3D printing startup listing in Australia
The US 3D printing startup listing in Australia

Robo 3D, a California-based consumer 3D printing company, opened at A$0.15 ($0.11) per share after pricing at A$0.10 ($0.07) at its Thursday debut on the Australian Securities Exchange.

The 3D printer startup completed an oversubscribed $6 million capital raising through a reverse takeover. ASX-listed Falcon Minerals had fully acquired Robo 4D and changed its code to "RBO" effective on Dec. 20.

Robo 3D was trading at A$0.14 per share by 11:30 am Sydney time.

Founded in 2012 by a group of San Diego State University students who built their own 3D printer after having trouble finding an affordable one, Robo 3D delivered its first consumer printer model in 2013.

Robo 3D was also named CES 2017 Best of Innovation Awards Honoree for its Robo R2 high-performance smart 3D printer with Wi-Fi.

"What we've been building is the whole 3D ecosystem, everything from the printers to the content that is 3D-printable to the materials and beyond that. We're trying to deliver an entire experience for the consumer," said Braydon Moreno, co-founder and executive director at Robo 3D, in a first on CNBC interview.

While the 3D printing industry has become an increasingly crowded space, Moreno said he sees "huge opportunities on the educational side of 3D printing" especially as a tool to spur product innovation in schools.

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