The news comes one week after Stern spoke bullishly during a keynote panel session at RAPID + TCT about the need for consolidation in additive manufacturing.
Nano Dimension is to acquire all outstanding shares of Desktop Metal for between 135-183 million USD, subject to the approval of Desktop Metal stockholders, regulatory approvals and certain termination rights.
The publicly listed company published a Form 8-K on July 2nd, 2024, detailing that it has filed a voluntary petition for relief under the provisions of Chapter 7 of Title 11 of the United States Bankruptcy Code.
BASF's Forward AM division has acquired BASF's additive manufacturing business, inclusive of the Sculpteo service business, and will move forward as Forward AM Technologies.
Despite having 6 months to organically raise the value of its stock back above the 1.00 USD mark for a consecutive 30-day period, Desktop Metal has been forced to effect a reverse stock split.
British private equity and VC form West Hill Capital has led the round extension, with contributions coming from a family-owned dental company, Quantica management, and Korean VC Big Bang Angels.
The company's current investor is unable to provide the funds that will allow the company to qualify its Apium P400 3D printer for the medical market, the sector Apium is hoping to pursue moving forward.
The funding will help Orbex ramp up the development of its Prime 19-metre-long, two-stage rocket, which has been designed to transport small satellites into Low Earth Orbit.
