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Chamath Palihapitiya
@chamath
· 4m
Nothing fundamental changed about the company from last Thursday to today. It is still one of my core SPAC holdings and I still believe in their products and future.
It’s frustrating what happened but $DM will be great and put this speed bump behind them.
Nothing fundamental changed about the company from last Thursday to today. It is still one of my core SPAC holdings and I still believe in their products and future.
— Chamath Palihapitiya (@chamath) December 14, 2020
It’s frustrating what happened but $DM will be great and put this speed bump behind them.
Gonna keep buying this til the wheels fall off.
TDA still hasn't converted my shares over yet. Friday could be brutal.
A Chamath Palihapitiya-backed 3D printing company that he says is fighting climate change slips 14% after its public debut via SPAC Thursday
https://markets.businessinsider.com/news/stocks/desktop-metal-stock-price-chamath-palihapitiya-3d-printing-trine-spac-2020-12-1029882831
Shares of Chamath Palihapitiya-backed Desktop Metal slipped as much as 14% on Thursday after the 3D printing company went public via SPAC.
Palihapitiya tweeted that Desktop Metal is a "really important company in fighting climate change."
The SPAC, Trine Acquisition Corp, combined with Desktop Metal and began trading on the NYSE under the ticker symbol "DM" on Thursday.
Visit Business Insider's homepage for more stories.
Desktop Metal slipped as much as 14% Thursday on its first day of public trading after combining with special purpose acquisition company, Trine Acquisition Corp.
Billionaire Chamath Palihapitiya co-led a $275 million private investment to take Desktop Metal public via Trine along with investor Bill Miller and Tesla co-founder JB Straubel.
Palihapitiya tweeted on Dec 4: "$DM builds 3d printers that replace old factories running on fossil fuels. Our printers are electric - creating no carbon output. It will also bring well paying manufacturing jobs throughout America...This is a really important company in fighting climate change."
The Social Capital CEO said that Desktop Metal is one of his largest investments in climate change to date.
Read more:2 investment chiefs at John Hancock's $692 billion investing arm say the post-COVID recovery might disappoint in 2021 - but investors can profit with these 3 strategies
According to a press release, Desktop Metal offers the fastest metal 3D printing technology in the market, up to 100 times the speed of legacy technologies. Palihapitiya tweeted in August that Desktop Metal could reach $942 million in annual revenue by 2025.
The SPAC, Trine Acquisition Corp, combined with Desktop Metal and began trading on the NYSE under the ticker symbol "DM" on Thursday. Several investors on Twitter claimed trading platforms did not convert the stock ticker from TRNE to DM after the Thursday opening bell, and investors were unable to buy DM.
Not great but give it a couple of days
not going well
at the current price of 23.55 with 250 million shares outstanding this company will have a 6 billion dollar market cap
For sure
We have a board, just look up SPAC
All good Dijee! Are you looking at any other Space at this time?
Word is merger went through and ticker change Thurs.
Can't find an official PR yet
Dijee
Sorry for the mispelling of you name!
Dijee
Sorry for the mispelling of you name!
Diner
What's up on Thursday am? What was the outcome of the 9:00am meeting today?
Will it run like QS and LAZR post merger or tank like some of the others?
I'm thinking it will run, that's where my $ is at any rate. Thursday AM ringing the bell.
Dijee
Let's see what tomorrow bring.
Yup If next week goes like last week in spacville we should do well.
I've got shares, warrants and options from mid NOV.
I looked around at the competition, there's some for sure, a German co a British one. Markforged (private co.) that does 3d copper printing.
DM does seem to be ahead on larger scale production metal printing.
You and lots of others! The price increase on good volume Friday makes me think lots of folks are expecting price to take off when this converts from an acquisition company to an operating company. My position is very small, but I am adding as I am able.
Dijee
Think I'll get 1000 shares and see what happens on 12/8.
Thanks
Merger vote on Dec 8. Next Tuesday.
Dijee
When is DM Scheduled to go public?
Going now
I'm surprised there's not more folks here.
Ha.
I've been so alone
Trine will hold a special meeting of stockholders (the "Special Meeting") to consider matters relating to the proposed Business Combination. Trine and Desktop Metal cannot complete the Business Combination unless Trine's stockholders consent to the approval of the Merger Agreement and the transactions contemplated thereby, including the issuance of Trine's Class A common stock to be issued as the merger consideration, and Desktop Metal's stockholders consent to adoption and approval of the Merger Agreement and the transactions contemplated thereby. Trine and Desktop Metal are sending you this proxy statement/consent solicitation statement/prospectus to ask you to vote in favor of these and the other matters described in this proxy statement/consent solicitation statement/prospectus.
The Special Meeting will be held at 9:00 a.m. eastern time, on December 8, 2020, in virtual format.
Desktop metal customers,
BMW, Ford, Renault Continental auto group, Goodyear, Nissan, Bosch, Eaton, AWL, Lockheed Martin, Maclean-Fogg, Callaway, Stanley Black and Decker, 3M, Adidas, Jade, Google, Moen, Milwaukie, Kolb, Weir, United States Navy.
WOW!
Free conference on Nov 18
https://www.desktopmetal.com/event-signup/additive-manufacturing-2-0?leadgen_source=headerbanner
Warrant terms from S-1
Number of private placement warrants to be sold in a private placement simultaneously with this offering
7,500,000 (1)
Number of warrants to be outstanding after this offering and the private placement
20,000,000 (1)
Exercisability
Each whole warrant is exercisable to purchase one share of our Class A common stock and only whole warrants are exercisable.
We structured each unit to contain one -half of one redeemable warrant, with each whole warrant exercisable for one share of Class A common stock, as compared to units issued by some other similar blank check companies which contain whole warrants exercisable for one whole share, in order to reduce the dilutive effect of the warrants upon completion of an initial business combination as compared to units that each contain a warrant to purchase one whole share, thus making us, we believe, a more attractive initial business combination partner for target businesses.
Exercise price
$11.50 per share, subject to adjustment as described herein. In addition, if we issue additional shares of common stock or equity -linked securities for capital raising purposes in connection with the closing of our initial business combination at an issue price or effective issue price of less than $9.20 per share of common stock (with such issue price or effective issue price to be determined in good faith by our board of directors, and in the case of any such issuance to our initial stockholders or their respective affiliates, without taking into account any founder shares held by them, as applicable, prior to such issuance) (the “newly issued price”), the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the newly issued price.
Desktop Metal to go public through blank check company at $2.5 billion valuation.
https://www.reuters.com/article/us-desktop-metal-m-a-trine-acqsn/desktop-metal-to-go-public-through-blank-check-company-at-25-billion-valuation-idUSKBN25M1CP
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