Our M&A lawyers are among the most experienced and effective in the world. We represent many of the world's largest publicly traded and privately held companies, as well as leading private equity firms on their most important mergers, acquisitions and takeover transactions.
Trine to Combine with Desktop Metal
- Client News
- August 26, 2020
Paul, Weiss is advising Trine Acquisition Corp. in its combination with Desktop Metal Inc., a leader in mass production and turnkey additive manufacturing solutions, offering the fastest metal 3D printing technology in the market. As a result of the combination with Trine, a special purpose acquisition company led by Leo Hindery, Jr. and global credit investment firm HPS Investment Partners, Desktop Metal will become a publicly listed company with an estimated post-transaction equity value of up to $2.5 billion.
Cash proceeds in connection with the transaction will be funded through a combination of Trine’s $300 million in cash in trust (subject to any stockholder redemptions) and a $275 million fully committed private investment in public equity (PIPE) at $10.00 per share, including investments from funds and affiliates of Miller Value Partners, XN, Baron Capital Group, Chamath Palihapitiya, JB Straubel, and HPS Investment Partners. The transaction is expected to close in the fourth quarter of 2020.
The Paul, Weiss team includes, among others, corporate partners Ted Ackerman, Eric Goodison, Jeffrey Marell and Raphael Russo; employee benefits partner Lawrence Witdorchic; litigation partner Gregory Laufer and counsel Steven Herzog; real estate partner Salvatore Gogliormella; tax partner David Mayo; antitrust counsel Marta Kelly and Yuni Sobel; and environmental counsel William O'Brien.