Elk Grove, Calif.—Benchwick, a leading innovator in 3D-printed flooring technologies and a subsidiary of Northann Corp., announced the successful closure of its parent company’s Initial Public Offering (IPO).
Initially comprising 1,200,000 shares of common stock priced at $5 per share, the IPO officially closed on October 23, 2023, reinforcing Northann’s standing in the market. The common stock has already begun trading under the ticker symbol “NCL” on NYSE American.
Benchwick’s proprietary 3D printing ecosystem with its own full intellectual properties portfolio also showcases the company’s innovative approach. The integrated system combines several cutting-edge, in-house technologies, including Blue 11, a sustainable and 100% recycle ocean plastic core; Envision, an AI-enabled image rendering tool; Infinite Glass, a UV-resistant overlay; DSE, a technology for high-resolution digital embossing; ArmorDual, an antimicrobial coating; and Mattmaster, which uses electron beam technology to achieve exceptional scratch resistance.
Following the successful closure of the IPO, Benchwick is well-positioned to accelerate its research and development activities and to reimagine the market opportunities in the industry. Given that the North American market generates over 90% of Benchwick’s revenue, these advancements are poised to offer substantial regional benefits.