What happened?According to data from S&P Global Market Intelligence, Materialise's shares (NASDAQ:MTLS), which is a 3D printing software provider, fell 10.7% in June. The Belgia-based company announced that it would be issuing additional American depositary stocks (ADS) in order to raise cash.The S&P 500 returned 2.3% last month while shares in 3D Systems (and Stratasys) rose 35.9% & 12%, respectively.What are you waiting for?Materialise shares plunged 18.3% on June 10 after the company announced a public offering for 4.0 million to $4.6 million ADSs, at $24 an ADS. Each ADS in Belgium represents one share of the common stock.Investors do not like the idea of losing control over a company. The dilution can be as high as 7.9%. The stock's closing price the day before the announcement was $24 was 14.3% lower than the $24 offering price. It was therefore expected that stock prices would fall upon the announcement. (Unsurprisingly, the stock's closing price on Friday, July 2, was $24.05 at 2:05 p.m.)The half-full view is that the offering should bring in proceeds of approximately $96 million to $110 millions less the costs associated with it. This cash could pay almost all of the company's debt which stood at $110.4 million at quarter's end. The company may also desire more cash to be able to pursue an attractive acquisition candidate.What now?Materialise is not currently profitable and it's not expected to be so for the full-year 2021. Wall Street believes that the company will return to profitability next year, but on a more adjusted basis.This stock should be on the 3D printing investor's watch list, as I wrote recently in an overview of 3D printer stocks as the second half of 2021 neared.
