Desktop Metal is a leader in mass production and turnkey additive manufacturing solutions, offering the fastest metal 3D printing technology in themarket, up to 100x the speed of legacy technologies(1)
The additive manufacturing industry is estimated to growfrom $12billionto $146billionthis decadeas it shifts from prototyping to mass production
Desktop Metal to become publicly listed through a business combination with Trine (NYSE:TRNE)
Combined company to have an estimated post-transaction equity value ofup to$2.5billionand will remain listed onthe NYSE under the ticker symbol “DM” following expected transaction closein the fourth quarter of 2020
Transaction to provide up to $575millionin gross proceeds, comprised ofTrine’s $300millionof cash held in trust (assuming no redemptions) and a $275M fullycommitted common stock PIPE at $10.00 per share, including investments from Miller Value Partners, XN, Baron Capital Group, Chamath Palihapitiya, JB Straubel, and HPS Investment Partners
Leo Hindery, Jr., legendary technology investor and operator, to join Desktop Metal’s board
All significant Desktop Metal shareholders including, Lux Capital, NEA, Kleiner Perkins, Ford Motor Company, GV (formerly Google Ventures), and Koch Disruptive Technologies will retain their equity holdings through Desktop Metal’s transition into the publicly listed company