Shapeways listed on New York Stock Exchange

September 29, 2021

Global digital manufacturing platform provider Shapeways, Inc, New York City, USA, has announced the completion of its business combination with Galileo Acquisition Corp. The combined company has been renamed Shapeways Holdings, Inc, with common stock and public warrants are expected to begin trading on the NYSE on September 30, 2021, under the new tickers SHPW and SHPW.WS, respectively.

The business combination was unanimously approved by Galileo’s board of directors and approved by a vote of Galileo’s shareholders on September 28, 2021, with more than 99% of the votes cast in favor of the transaction.

“We are proud of what our team has achieved and excited to start our journey as a public company. Since we announced this transaction earlier this year, we have delivered strong year-over-year revenue growth and robust margins as we continue to scale and extend our footprint across key industries,” stated Greg Kress, Chief Executive Officer.

“With our best-in-class proprietary software, which digitises the end-to-end manufacturing process, we believe Shapeways is uniquely positioned to capture a tremendous opportunity in the global manufacturing market. The opportunities ahead of us are exciting as we continue to scale across materials, markets, and technologies, and as we introduce our software-as-a-service (SaaS) offering. The completion of this transaction will provide us with the platform to execute on our growth strategy and drive shareholder value.”

Following the business combination and related PIPE investment, Shapeways will receive $103 million of gross proceeds, including a $75 million fully-committed common stock PIPE anchored by top-tier investors including Miller Value, XN, and Desktop Metal. The PIPE also includes investments from existing Shapeways investors Lux Capital, Union Square Ventures, INKEF Capital and Andreessen Horowitz.

Proceeds are intended to be used primarily to accelerate the company’s Additive Manufacturing capabilities, accelerate the rollout of its SaaS offering, expand its material and technology offerings to extend market reach and grow customer share of wallet, as well as to provide additional working capital.

Shapeways’ existing management team, led by Greg Kress, will continue to operate the business.

www.shapeways.com

Metal AM magazine Summer 2022

In the latest issue of Metal AM magazine

Download PDF
 

Extensive AM industry news coverage, as well as the following exclusive deep-dive articles:

  • Transforming access to medical implants with PrinterPrezz
  • Lessons from 2021’s Olympic bike crash
  • Xerox liquid metal AM
  • Additive Manufacturing for oil, gas and maritime
  • Multi-material metal parts by Powder Bed Fusion
  • Findings from Wohlers Report 2022
  • The challenge of grain size: X-ray powder diffraction analysis of parts made by metal AM

The world of metal AM to your inbox

Don't miss any new issue of Metal AM magazine, and get the latest industry news. Sign up to our twice weekly newsletter.

Sign up

News from the industry…

    News from the industry…

    Discover our magazine archive…

    The free to access Metal Additive Manufacturing magazine archive offers unparalleled insight into the world of metal Additive Manufacturing from a commercial and technological perspective through:

    • Reports on visits to leading metal AM part manufacturers and industry suppliers
    • Articles on technology and application trends
    • Information on materials developments
    • Reviews of key technical presentations from the international conference circuit
    • International industry news

    All past issues are available to download as free PDFs or view in your browser.

    Browse the archive

    qweqw

    Looking for AM machines, metal powders or part manufacturing services?

    Discover suppliers of these and more in our comprehensive advertisers’ index and buyer’s guide, available in the back of Metal AM magazine.

    • AM machines
    • Process monitoring & calibration
    • Heat treatment & sintering
    • HIP systems & services
    • Pre- & post-processing technology
    • Powders, powder production and analysis
    • Part manufacturers
    • Consulting, training & market data
    Download PDF
    Share via
    Copy link
    Powered by Social Snap