Shapeways, an Additive manufacturing production services company, is entering a SPAC merger with Galileo Acquisition Corp to go public on the New York Stock Exchange. It just seems like every other day there’s another 3D printing company going public, and we’ll have more to cover in an upcoming news episode.
The combined company will be renamed to Shapeways Holdings, Inc. and is expected to list under the NYSE under the ticker symbol SHPW. The new company will be led by current Shapeways CEO, Greg Kress, who says: “Our vision to enable anyone to rapidly transform digital designs to physical products is reaching a significant milestone today as we transition Shapeways into a public company,” “We have been successfully executing on our vision, and this capital will allow us to empower digital manufacturing at scale, accelerating Shapeways’ additive manufacturing capabilities while expanding the Company’s material and technology offerings to more markets and industries.”
Shapeways has been a big player at the heart of the Additive revolution that started more than 10 years ago. Like many other 3D printing companies, Shapeways has chosen to go public through the SPAC merger approach. If you don’t know who Shapeways is, they are basically an on demand manufacturing service and software provider that helps customers transform their designs into physical products on a global scale. They make industrial additive manufacturing accessible through their fully digitalized end-to-end manufacturing process, providing 11 additive manufacturing technologies and more than 90 materials and finishes. Shapeways has delivered over 21 million parts to 1 million customers in over 160 countries.
The “digital manufacturing” market is expected to grow from $39 billion to around $120 billion by the year 2030, disrupting the global manufacturing market along the way. As we’ve seen over the past year, global manufacturing can have massive drawbacks for companies around the world when things aren’t smooth sailing. Graphics Chip shortage, anyone? Technologies like 3D printing build upon the software basis of digital manufacturing and provide massive benefits including dramatically shortened lead times and lower costs per part. Shapeways is valued at $410 million and is expected to start at $10 a share.
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