Desktop Metal is backing a $75m PIPE supporting the reverse takeover, which values the additive manufacturing technology provider at $410m.

Shapeways, a US-based 3D printing technology developer backed by corporate investors Hewlett Packard Enterprise (HPE) and Sumitomo, agreed a reverse merger with special purpose acquisition company Galileo Acquisition Corp yesterday.

The transaction will be conducted at a $410m pro-forma equity valuation and the merged business will take the spot secured by Galileo Acquisition Corp when it listed on the New York Stock Exchange in a $120m initial public offering in October 2019.

The company set to secure $75m in…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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