Nextech3D.ai Game-Changing Generative-AI CAD 3D Design Studio Toggle3D.ai Primed For $7 Million June IPO
Martech Outlook | Wednesday, May 24, 2023
Nextech3D.ai shareholders of record set to receive a 4,000,000 share stock dividend
The company will trade under the ticker symbol: TGGL
TORONTO, O.N, Canada - Nextech3D.AI (formally “Nextech AR Solutions Corp'' or the “Company”) (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers to thrilled to announce the eagerly anticipated spin-off of Toggle3D.ai. The expected trade date for Toggle3D.ai (CSE:TGGL) is June 13, 2023 (subject to approvals) of the Canadian Securities Exchange. Nextech shareholders of record will be issued an exclusive dividend of 4,000,000 newly issued shares in the revolutionary Toggle3D.ai, on a pro-rata basis.
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Toggle3D.ai is a groundbreaking SaaS solution that utilizes generative AI to convert CAD files, apply stunning 4K texturing, and enable seamless publishing of superior 4K 3D models, serving various industries within the $160 billion CGI market. With its Augmented Reality-based rapid prototyping web app, Toggle3D.ai empowers designers, artists, marketers, and eCommerce owners to effortlessly convert, texture, customize, and publish high-quality 3D models and experiences, regardless of technical or 3D design expertise.
After the IPO spin-out Nextech3D.ai is going to retain 13 million shares or about a 50% ownership stake in Toggle3D.ai. The Company is selling about 8,400,000 shares at $0.25 per unit (including a $0.50 warrant). The Company has raised $2.1mill dollars giving Toggle3D.ai a $7.1 million post money valuation.
The spin-out of Toggle3D.ai follows Nextech's successful spin-out on 10/26/2022 of ARway.ai, currently trading on the CSE as ARWY and on the OTCQB as ARWYF.
Toggle3D.ai is emerging as a standalone public company, initially trading on the CSE as TGGL, with plans to expand its presence to the Frankfurt and OTC markets in the near future. This strategic move not only drives innovation but also unlocks substantial shareholder value, reflecting Nextech's commitment to driving the industry forward.
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