Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, March 25, 2022

Article Excerpt

DESKTOP METAL INC., $4.61, symbol DM on New York, is a Massachusetts-based manufacturer of 3D printing systems. Founded in 2015, the company believes that its 3D printing technology is up to 100 times faster than traditional legacy systems. Its customers include many of the major automotive manufacturers, including Ford, Toyota, Nissan, BMW, GM and Volkswagen. Other customers span a range of industries, and include Dow, Goodyear, Adidas, Moen and Medtronic. Desktop Metal has distribution in more than 60 countries around the world and adoption from companies spanning an array of industries, including automotive, consumer products, industrial automation, medical devices, aerospace and defence. On December 10, 2020, Desktop Metal completed its merger with Trine Acquisition Corp., a special purpose acquisition company (SPAC). It then began trading on New York under the symbol “DM.” By agreeing to a reverse merger with Trine Acquisition, Desktop Metal was able to avoid all the complications and costs involved with going public through an IPO. The merger also provided Desktop…