ExOne announced that it has entered into a five-year revolving credit agreement with RHI Investments, LLC, which is controlled by ExOne's Chairman and Chief Executive Officer, S. Kent Rockwell.

The agreement provides for a $15 million revolving credit facility with the opportunity, subject to certain conditions, to increase the facility by an additional $15 million. Loans drawn against the facility will bear interest at LIBOR plus 7.0%. ExOne can borrow, repay and re-borrow at any time before the expiration date. The facility, which can be terminated by the Company at any time without penalty, requires that ExOne pay a commitment fee of 1.0% per annum on the undrawn portion of the available commitment. ExOne's obligations under the credit facility are guaranteed by certain of its subsidiaries and are secured by a first priority lien on the accounts receivable, inventories and machinery and equipment of The ExOne Company, ExOne Americas LLC and ExOne GmbH.

The credit agreement permits ExOne to use loan proceeds for providing lease financing to customers of its 3D printing machines, which will increase its global installed base beyond the current 200+ machines in service, and for working capital and general corporate purposes.

"I remain confident in ExOne and its binder jetting technology which applies to 3D printing for metal products used in industrial markets. We are responding to increasing opportunities for both machine sales and 3D printed products for customers as we have expanded our platforms and applications. A key benefit of this credit facility is to help ExOne grow its installed machine base through additional machine leasing and to further enhance our working capital position as we transition our emerging business to a profitable, cash generating company," said Rockwell.

Rockwell beneficially owns approximately 3.2 million shares of ExOne common stock, representing about 22% of shares outstanding. The credit facility was pre-approved by ExOne's Audit Committee and all of the independent members of its Board of Directors.

ExOne is a global provider of 3D printing machines and 3D printed and other products, materials and services to industrial customers.