As previously disclosed, the Company has been working with advisors while considering strategic alternatives, and is actively taking steps to sell a material portion of the Company’s assets. In the course of market checks conducted by the Company’s advisors and preliminary discussions with potential purchasers, the Company has received indications of interest to acquire either its manufacturing business or software business, but not both together.
Based on that feedback, the Shapeways Board of Directors formed an independent Special Committee to oversee the divestment or liquidation of the Company’s software business. The Special Committee engaged outside advisors and pursued a competitive process to sell the Company’s software assets, which resulted in the Company accepting a management-led proposal to purchase the software business.
The transaction is expected to close on or around
Following the closing of the transaction,
The Company is continuing to pursue strategic alternatives for the core manufacturing business, and is engaged in ongoing discussions with potential acquirers. There can be no assurance that any of these discussions will result in any transaction.
About
With access to a dozen additive technologies, six conventional manufacturing methods, and hundreds of materials and finishes,
With ISO 9001-compliant manufacturing facilities in
Contact Information
Investor Relations
investors@shapeways.com
Media Relations
press@shapeways.com
Special Note Regarding Forward-Looking Statements
Certain statements included in this press release are not historical facts and are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, regarding the proposed transaction and the anticipated timing of the closing thereof; the plans of the Company’s management; the sale or liquidation of some or all of the Company's assets via merger, business combination, or other strategic transaction, and the timing and/or impact of any such divestiture, liquidation or other potential transactions, are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including the risk that the proposed transaction will not be completed on the anticipated terms and/or timing; the risk that the closing conditions of the proposed transaction are not satisfied and the transaction is not consummated; the risk that exploration of strategic alternatives for the manufacturing business may not result in any definitive transaction and may create a distraction or uncertainty that may adversely affect the Company’s operating results, business, or investor perceptions; the effect of the announcement or pendency of the proposed transaction on Shapeways’ business, financial condition, and operating results; risks that the proposed transaction disrupts current plans and operations of
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