Shapeways, a global digital manufacturing platform, and Galileo Acquisition today announced that they have entered into a definitive merger agreement for approximately $195 million, including a $75 million PIPE.
Upon closing, the combined company will be named Shapeways Holdings and will list on the NYSE under SHPW.
The business combination values Shapeways at a $410 million pro forma enterprise value at the $10 per share PIPE price, which implies an equity value of $605 million (assuming minimal redemptions by Galileo shareholders). The fully-committed common stock PIPE is anchored by institutional investors including Miller Value Partners and XN, along with strategic partner Desktop Metal.
Galileo Acquistion last November terminated merger talks with a modeling agency. The New York-based SPAC raised $138 million in an IPO in 2019.
Shapeways’ 3D printing and digital manufacturing platform covers automation, innovation and digitization. The company said its software, wide selection of materials and technologies, and global supply chain lower manufacturing barriers and speed delivery of quality products. Read more.
