Desktop Metal is the latest company to go public in a deal with a blank check company. It will list on the New York Stock Exchange in a merger with Trine Acquisition Corp., a special purpose acquisition company led by former cable exec Leo Hindery Jr. and HPS Investment Partners. Expected valuation: Up to $2.5 billion.
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The public listing and a total of $575 million in new funds from the transaction will give Desktop Metal the firepower to expand aggressively, cofounder and CEO Ric Fulop said in an interview with Forbes. ”We have a plan to grow to over $1 billion in revenue over five years,” he says. With revenue of some $26 million last year and expectations for similar this year, that represents an extremely aggressive growth rate that far outpaces the 3D printing industry’s overall 25% […]
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