The 3D printing SPAC scoreboard
Between August 2020 and July 2021, six 3D printing companies agreed to go public by merging with a SPAC, at announced equity values from 605 million dollars to 2.5 billion dollars. None of them still trades under the ticker it listed with. Where a buyer later paid a published price for the whole company, those prices add up to 311.2 million dollars, against 6 billion dollars of announced value, or about 5 cents on the dollar.
Last checked . Every figure links to the filing, press release or trade report it came from. Download the table as CSV.
Announced, then sold
Equity value at announcement against the later priceAll six deals to scale
Announced equity valueEnterprise value (no equity value published)Later price for the whole company
Deal by deal
CSV| Company | Announced | Listed | What happened | Later price |
|---|---|---|---|---|
| Desktop MetalSPAC: Trine Acquisition Corp | Aug 2020$2.5 bn equitycnbc.com | Dec 2020NYSE: DM metal-am.com | Apr 2025Bought by Nano Dimension. 179.3 million dollars, or 5.295 dollars a share, closed on 2 April 2025. investors.nano-di.com
| $179.3 m |
| MarkforgedSPAC: one | Feb 2021$2.1 bn equitygoodwinlaw.com | Jul 2021NYSE: MKFG 3dprint.com | Apr 2025Bought by Nano Dimension. 116 million dollars, or 5.00 dollars a share, closed on 25 April 2025. investors.nano-di.com
| $116 m |
| Velo3DSPAC: JAWS Spitfire Acquisition Corp | Mar 2021$1.6 bn enterprise valuesec.gov | Sep 2021NYSE: VLD businesswire.com | Dec 2024Noteholder takes 95 percent. Pushed off the NYSE in September 2024, then Arrayed Notes Acquisition Corp exchanged about 22.4 million dollars of secured notes for 95 percent of the shares. tipranks.com, ir.velo3d.com
| $22.4 m of notes for 95% |
| ShapewaysSPAC: Galileo Acquisition Corp | Apr 2021$605 m equity$410 m enterprise valuesec.gov | Sep 2021NYSE: SHPW businesswire.com | Jul 2024Files for Chapter 7. The listed holding company stopped operating on 2 July 2024. Its Eindhoven factory, and later the brand, went to a company owned by the Dutch managers and two co-founders for sums that were not disclosed. 3dprint.com, 3dprintingindustry.com
| Not disclosed |
| FathomSPAC: Altimar Acquisition Corp. II | Jul 2021$1.5 bn equity$1.5 bn enterprise valuesec.gov | Dec 2021NYSE: FATH businesswire.com | May 2024Taken private by its majority owner. CORE Industrial Partners, whose funds held about 63 percent of the voting power, paid 4.75 dollars a share for the Class A stock it did not own, about 12.6 million dollars in all. A 1-for-20 reverse split in September 2023 came first, so that is 23.75 cents per share as originally issued, against the 10-dollar SPAC price. sec.gov, sec.gov, businesswire.com, businesswire.com | $4.75 a share, post split |
| Fast RadiusSPAC: ECP Environmental Growth Opportunities Corp | Jul 2021$1.4 bn equity$995 m enterprise valuesec.gov | Feb 2022Nasdaq: FSRD globenewswire.com | Dec 2022Sold out of Chapter 11. SyBridge Technologies won the auction for the business with about 15.9 million dollars of total consideration, ten months after the listing. globenewswire.com | $15.9 m |
How we count
The announced value is the pro forma equity value in the merger announcement, at the 10-dollar SPAC share price and before any shareholder redemptions. Velo3D’s announcement gave only an enterprise value of 1.6 billion dollars, so its row shows that figure and it stays out of the cents-on-the-dollar total.
The later price is what a buyer paid for the whole company when it stopped being independent. Shapeways’ assets went for undisclosed sums after its Chapter 7 filing, and Fathom’s majority owner bought out the minority at a per-share price, so neither has a company-wide figure to set against its announced value. Both are left out of the total rather than estimated.
This compares the valuation investors were shown with the price the business later fetched. It says nothing about how much cash each deal actually raised, which for most of these SPACs was less than the headline once shareholders redeemed.
BigRep also reached the stock market through a SPAC, in Frankfurt in July 2024, and announced its delisting in June 2026. It is not in the table because we have not found a published valuation for that merger; its timeline has the rest. The wider story of 2022 is in how the SPAC bubble burst.
Nozzle4, “The 3D printing SPAC scoreboard”, updated , https://nozzle4.com/3d-printing-spacs/Informational only, not investment advice. Compiled by hand from public filings, company press releases and trade coverage; corrections are dated on this page when made.