Digital manufacturing platform to list on NYSE via SPAC deal

Business news | May 10, 2021

By Rich Pell

Supporting users ranging from individual project-focused engineers to small and large enterprises requiring high-mix production at scale, Shapeways offers high-quality, flexible on-demand manufacturing powered by purpose-built proprietary software designed to enable users to rapidly transform digital designs into physical products, globally. The company says it makes industrial-grade additive manufacturing accessible by fully digitizing the end-to-end manufacturing process, and by providing a broad range of solutions utilizing 11 additive manufacturing technologies and more than 90 materials and finishes, with the ability to easily scale new innovation, positioning it to scale across materials, markets and technologies.

Currently, the company says it has delivered over 21 million parts to 1 million customers in over 160 countries.

“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,” says Greg Kress, Chief Executive Officer of Shapeways. “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.”

Expanding additive manufacturing capabilities, says the company, will enable acceleration of adoption in key markets including industrial, medical, automotive, and aerospace. As an example of this opportunity, the company has signed a strategic partnership with Desktop Metal, a leader in additive manufacturing metal technologies, an important expansion beyond Shapeways’ current focus on polymers.

The merger transaction with Galileo will provide $195 million of net proceeds to the company, including a $75 million fully committed, common stock private investment in public equity (PIPE) at $10.00 per share anchored by institutional investors Miller Value, XN, and strategic investor Desktop Metal. The PIPE also includes investments from existing investors Lux Capital, Union Square Ventures, INKEF Capital and Andreesen Horowitz.

Alberto Recchi, Galileo’s co-Founder and CFO, and Alberto Pontonio, co-Founder of Galileo, say, “We are extremely excited to partner with Greg and Shapeways to help the Company achieve its goals and capture the massive Additive Manufacturing 2.0 opportunity. Thanks to its tremendous team, flexible on-demand manufacturing capabilities, and proprietary purpose-built software, we believe Shapeways has incredible potential for future growth, which will only be accelerated by the extensive financial resources provided by this transaction.”

Upon closing of the transaction, the combined company will be named Shapeways Holdings, Inc. and is expected to remain listed on the NYSE under the new ticker symbol, SHPW. The combined company will be led by Greg Kress.

Shapeways