3D-printing marketplace Shapeways set for SPAC

3D-printing marketplace Shapeways set for SPAC

Shapeways confirmed the veracity of an earlier report this morning that it had struck a deal to go public through SPAC. The model, which has become popular among tech companies over the past year, has already been adopted by a number of partner 3D-printing companies, including Markforged and Desktop Metal. CEO Greg Cress said in a statement attached to the news, “We have reached an important milestone today as we will be able to enable someone to quickly transform digital design into physical products.

“We are successfully executing our vision, and this capital will allow scale digital production empowerment by accelerating Shapeways’ integrated production capabilities while further expanding the company’s material and technology offerings in markets and industries.” Founded in 2007, the New York-based company, (with Dutch roots) offers 3D printing as a service. Specifically, it allows users to outsource the printing of 3D-printed content to their own army of units.

Its services include a marketplace where users can buy and sell 3D-printed objects. Raised north of Crunchbase for $107 million, the company will have the opposite association with the vacant company Galileo Acquisition Corporation. The deal will cost Shapeways $410 million and generate more than $195 million.

Its services include a marketplace where users can buy and sell 3D-printed objects. Raised north of Crunchbase for $107 million, the company will have the opposite association with the vacant company Galileo Acquisition Corporation. The deal will cost Shapeways $410 million and generate more than $195 million.

The money will go towards “accelerating [ING] Shapeways’ metallic additive production capacity, expanding the company’s market capability and increasing customer participation in the wallet, as well as providing additional working capital.” This agreement, will list the company as “SHPW” on the NYSE subject to quality control inquiries. Hopefully this summer will be off. The money will go towards “accelerating [ING] Shapeways’ metallic additive production capacity, expanding the company’s market capability and increasing customer participation in the wallet, as well as providing additional working capital.” 

This agreement, will list the company as “SHPW” on the NYSE subject to quality control inquiries. Hopefully this summer will be off.

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