Desktop Metal Inc. is acquiring another publicly traded 3D printing company in a deal valued at $575 million.The Burlington-based company (NYSE: DM) said on Wednesday it plans to acquire North Huntingdon, Pa.-based The ExOne Co. (Nasdaq: XONE) for a combination of cash and stock worth $575 million. The deal is expected to close in the fourth quarter of this year.
Burlington-based Desktop Metal Inc. is the latest Massachusetts company to go public this year thanks to an accelerated procedure called a reverse merger.Not including more than a dozen life sciences IPOs this year, Desktop Metal is the fourth Massachusetts company to go public this year. Non-biotech companies that went public this year include daily fantasy sports betting company DraftKings Inc. (Nasdaq: DKNG) which also went public via a reverse merger, Duck Creek Technologies (Nasdaq: DCT) and Amwell.The 3-D printing company announced Wednesday it will become a publicly traded company through a merger deal with a special purpose acquisition company, or SPAC. In a release, Desktop Metal said early Wednesday it had signed a merger agreement with Trine Acquisition Corp. (NYS
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