Desktop Metal has officially filed for Chapter 11. After a turbulent period spent trying to stay afloat, is this outcome surprising? Maybe. Maybe not. But for those outside the industry, it marks the end of an era—a company that once made many dream about the transformative potential of additive manufacturing.
Desktop Metal, Inc. and its U.S. affiliates have agreed with an affiliate of Anzu Partners to purchase the Company’s ExOne GmbH, EnvisionTEC GmbH, ExOne KK, and AIDRO s.r.l. foreign subsidiaries in a sale, subject to Court approval and customary closing conditions.
To implement the sale and protect the business while it markets its remaining assets, Desktop Metal has filed for Chapter 11 of the U.S. Bankruptcy Code in the Southern District of Texas.
Following Desktop Metal’s announcement, Nano Dimension—its recent acquirer—clarified that the decision was made independently by Desktop Metal’s Board of Directors. Ofir Baharav, CEO of Nano Dimension, stated, ‘We are protecting our financial stability and maintaining our status as the best-capitalized company in our ecosystem. This strong position allows us to pursue strategic opportunities with maximum leverage—precisely what our shareholders should expect from us.
The Company values its stakeholders—employees, customers, vendors, and other partners will be communicated with directly on next steps in the coming days.
Are we witnessing the departure of the biggest names of the AM industry?
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