Nextech3D.ai Shareholders Approve IPO Spin-out of Its Generative-AI CAD-3D Design Studio "Toggle3D.ai"
Martech Outlook | Tuesday, June 06, 2023
On June 8th, Nextech3D.ai shareholders of record set to receive a 4,000,000 share stock dividend on a pro-rata basis
Expected trade date for Toggle3D.ai is June 13, 2023
CSE Stock Symbol: TGGL
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
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 is pleased to announce that it has now received shareholder approval at the Annual and Special Meeting of shareholders of the Company held on June 5, 2023 to proceed with its proposed plan of arrangement (the “Arrangement”) under the Business Corporations Act (British Columbia) to spinout the Company’s Toggle3D.ai CAD-3D design Studio and associated assets. The final court hearing to approve the plan of arrangement is scheduled for June 9th, 2023 with a record date of June 8th and listing. The expected trade date for Toggle3D.ai CSE:TGGL is June 13, 2023 (subject to approvals) of the Canadian Securities Exchange.
As previously announced, the Arrangement will result in, among other things, Nextech3D.ai receiving an aggregate of 13,000,000 common shares of Toggle3D (“Spinco Shares'') and an aggregate of 4,000,000 Toggle3D.ai (“Spinco”) shares being distributed directly to the shareholders of Nextech3D.ai on a pro rata basis.
Toggle3D 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 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.
Watch a video showcasing Toggle3D - click here
After the IPO spin-out Nextech3D.ai is going to retain 13,000,000 shares or about a 50% ownership stake in Toggle3D.ai. The Company plans to sell approximately 8,400,000 shares at $0.25 per unit (including a $0.50 warrant). The Company has raised $2.1 million 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 (CSE:ARWY), (OTCQB:ARWYF) and (FSE: E65)
Toggle3D.ai is emerging as a standalone public Company, initially trading on the Canadian Securities Exchange (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 Nextech3D.ai’s commitment to driving the industry forward.
More in News

