Manufacturing. Accelerated.
Transaction summary
Desktop Metal team
Ric Fulop
Co-founder, Chairman & CEO
Elizabeth Linardos
CFO
Arjun Aggarwal
VP Product & Business Development
Trine Acquisition Corp team
Leo Hindery, Jr.
Chairman & CEO
Tom Wasserman
Director
Pierre Henry
CFO & EVP of Development
Transaction highlights
Transaction
structure
Valuation
Capital
structure
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Ownership
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Trine Acquisition Corp (NYSE:TRNE) is a publicly listed special purpose
acquisition company with $300M in cash
$275M PIPE commitments before transaction announcement
• $1.8B enterprise value with a strong balance sheet
Implied 1.9x 2025E revenue of $942M offers an attractive valuation
relative to peer average
Pre-transaction, Desktop Metal is already fully-funded to achieve a
positive self-sustaining cash flow profile
Post-transaction, ~$625M on balance sheet(1) enables significant
optionality to enhance growth, profitability and diversification
74% existing shareholders; 14% SPAC and founder shares; 11% PIPE
investors(1)(2)
Trine has identified Desktop Metal as a unique and compelling opportunity to invest in the
only publicly-traded, pure-play Additive Manufacturing 2.0 company primed to be the industry
leader due to a proprietary and defensible technology platform that is significantly faster, more
cost effective, higher quality and more environmentally sustainable than its competitors.
D Desktop Metal
1. Assumes no redemptions by Trine Acquisition Corp's existing shareholders and transaction expenses of approximately $49M. See slide 33 "Detailed transaction overview" for key assumptions and additional details.
Percentages may not total 100 due to rounding.
2.
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