Desktop Metal (NYSE:DM) has completed its merger with the special purpose acquisition company (SPAC) Trine Acquisition (NYSE:TRNE) and is now a public company.
Here’s what investors need to know about the Desktop Metal SPAC merger.
- The company is now trading on the New York Stock Exchange under the DM stock ticker.
- Its warrants are also listing on the same exchange under the DM.WT ticker.
- Following the completion of the merger, the new company changed its name to Desktop Metal.
- The SPAC merger gives Desktop Metal $580 million of gross proceeds to work with.
- That includes a mix of cash from Trine’s trust accounts and from private investments in public equity (PIPE).
- The company was founded in 2015 and is based out of Burlington, Mass.
- Its focus is on developing advanced manufacturing with new 3D printing solutions.
- The P-50 is one of its major devices and is expected to achieve manufacturing speeds up to 100 times faster than those of legacy devices.
- Desktop Metal is preparing for volume commercial shipments of the P-50 in the second half of 2021.
- A sooner release is the Production System P-1, which uses much of the same systems as the P-50.
- The company says that it plans to release this device sometime in the fourth quarter of 2020.
- Desktop Metal also has other commercial 3D printing solutions in the work that will be releasing in the near future.
- DM has room to grow as the advanced manufacturing industry is expected to increase from $12 billion to $146 billion during this decade.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.