Home › Blog › 3D printing stocks, Q3 2025: Desktop Metal goes bankrupt and Velo3D climbs back

Market history

3D printing stocks, Q3 2025: Desktop Metal goes bankrupt and Velo3D climbs back

Nozzle4 · · 2 min read

Nano Dimension completed its acquisition of Desktop Metal on 2 April 2025. On 28 July, Desktop Metal filed for Chapter 11. That is 117 days of ownership for a deal valued at 179.3 million dollars, and the filing came from Desktop Metal’s own independent board, which pointed at liabilities and cash needs left behind by the company’s prior management.

The pieces went for very little. Arc, a New York investment company, took Desktop Metal out of bankruptcy in September and made its longtime chief operating officer, Thomas Nogueira, chief executive. 3DPrint.com put the price of the Desktop Metal and ExOne assets that went to Arc at 7 million dollars; IndustryWeek called the sum undisclosed. Desktop Metal’s valuation around its 2020 SPAC listing had been about 2.5 billion dollars.

Then Nano changed its own leadership again. On 10 September the board replaced chief executive Ofir Baharav with David Stehlin, a director who had joined in February, and hired Guggenheim Securities and Houlihan Lokey to run a strategic review. Stehlin was the third person to lead Nano since Yoav Stern was removed in December 2024. IndustryWeek read the “strategic alternatives” wording as leaving a sale or a restructuring on the table. The company that spent 2024 buying was, by September 2025, looking at what it could sell.

3D Systems was selling too. In September it agreed to sell its Oqton and 3DXpert software businesses to Hubb Global Holdings, after selling Geomagic for 119.4 million dollars in April. When the Oqton and 3DXpert sale closed on 31 October, the price turned out to be 3.3 million dollars in cash plus a revenue-based royalty valued at 7.1 million. 3D Systems had agreed to pay about 180 million dollars for Oqton alone.

The quarter’s comeback was Velo3D. The NYSE had pushed it onto the over-the-counter market in September 2024 for falling below its market-cap standard, and in December 2024 its noteholder, Arrayed Notes Acquisition Corp, swapped about 22.4 million dollars of notes for 95 percent of the equity. On 19 August 2025 Velo3D started trading on the Nasdaq Capital Market as VELO, with a 17.5 million dollar share offering alongside. Public shareholders who had been cut to about 5 percent of the company eight months earlier held a Nasdaq-listed stock again.

At the small end, Steakholder Foods carried out its second reverse ADS split of the year on 10 September, one for eight, after a one-for-five in April.

The quarter before is Q2 2025. The dated histories of Nano Dimension and Velo3D are on their company pages.

Sources