Exciting news in the world of additive manufacturing! Shapeways, a key player in the field of production services and 3D printing, is taking a significant step forward. The company is set to go public through a Special Purpose Acquisition Company (SPAC) merger with Galileo Acquisition Corp, and this move will see them listed on the New York Stock Exchange.
The Birth of Shapeways Holdings Inc.
As part of this transformative process, the merged company will be rebranded as “Shapeways Holdings Inc.” and is expected to trade under the ticker symbol “SHW” on the NYSE. The reins of the new venture will remain in the capable hands of Shapeways’ current CEO, Greg Kress.
Mr. Kress shared his enthusiasm, stating, “Our vision to enable anyone to rapidly transform digital designs into physical products is reaching a significant milestone today as we transition Shapeways into a public company. We’ve been successfully executing our vision, and this capital will allow us to empower digital manufacturing at scale, accelerating Shapeway’s additive manufacturing capabilities while expanding the company’s material and technological offerings to more markets and industries.”
Shapeways: Pioneering Additive Manufacturing
Shapeways has been a notable contributor to the additive manufacturing revolution that commenced over a decade ago. They have chosen the SPAC merger route, which is becoming increasingly popular among 3D printing companies aiming to go public.
For those unfamiliar with Shapeways, they operate as an on-demand manufacturing service and software provider. Their mission is to assist customers in turning their digital designs into tangible products on a global scale. It’s a simple process: you upload your 3D model, and they deliver the physical part of your choice. They’ve made industrial additive manufacturing accessible through a fully digitized end-to-end manufacturing process, offering a diverse range of 11 different additive processes and over 90 materials and finishes.
A Global Impact
Shapeways’ global influence is significant, with over 21 million parts delivered to more than one million customers across 160 countries. Their journey is a testament to the growth potential of the digital manufacturing market. This sector is forecasted to expand from its current valuation of around $39 billion to a whopping $120 billion by 2030. Such growth is poised to disrupt traditional global manufacturing practices, eliminating substantial drawbacks seen during challenging times, such as the recent global semiconductor chip shortage.
A New Beginning on the NYSE
Shapeways currently holds a valuation of $410 million and anticipates an initial share price of $10. The world of additive manufacturing continues to evolve rapidly, and this move is bound to have a lasting impact on the industry.
What’s your take on the wave of SPAC mergers in the 3D printing realm? Share your thoughts in the comments below. Make sure to hit the like button and subscribe to stay updated on the latest developments in the world of 3D printing. Until next time, have a fantastic day!