Shapeways to Go Public via SPAC - 3D Printing Marketplace

Shapeways to Become Publicly Traded via SPAC Merger

Shapeways has officially verified reports indicating its agreement to become a publicly listed company through a Special Purpose Acquisition Company (SPAC) merger. This method of going public has gained traction within the technology sector recently.

Several other companies specializing in 3D printing, such as Markforged and Desktop Metal, have already utilized this approach.

CEO Statement on the Public Offering

According to a company statement released alongside the announcement, CEO Greg Kress stated, “A pivotal moment in our journey to empower anyone to swiftly convert digital designs into tangible products is being realized as Shapeways transitions to a public entity.”

He further explained that the additional funding will be instrumental in scaling digital manufacturing and enhancing Shapeways’ additive manufacturing capabilities.

Shapeways: A History of 3D Printing Services

Established in 2007, Shapeways, headquartered in New York but originating in the Netherlands, provides 3D printing as a service.

The company facilitates outsourcing of 3D object printing to its extensive network of industrial-grade printers.

Shapeways also operates a marketplace where users can both purchase and sell 3D-printed objects.

Details of the Merger with Galileo Acquisition Corp

Having secured over $107 million in funding, as reported by Crunchbase, Shapeways will merge with Galileo Acquisition Corp, a blank check company.

This transaction values Shapeways at $410 million and is projected to generate approximately $195 million in capital.

These funds will be allocated to bolster Shapeways’ metal additive manufacturing processes, broaden its range of materials and technologies, and expand its market presence.