ExOne (XONE) to be acquired by Desktop Metal (DM)

 

***  XONE ***

 

 

 

 

ExOne agrees to be acquired by Desktop Metal (DM) for total consideration of $25.50/share in cash and stock 

• ExOne has entered into a definitive agreement pursuant to which Desktop Metal will acquire all of the issued and outstanding shares of ExOne common stock.
• Under the terms of the agreement, ExOne shareholders will receive $8.50 in cash and $17.00 in shares of Desktop Metal common stock for each share of ExOne common stock, for a total consideration of $25.50/share, representing a transaction value of $575 mln, subject to a collar mechanism and implying a 47.6% premium to the closing price of ExOne's common stock on August 11 and a 43.9% premium based on the 30-day average closing price of ExOne common stock.
  • The transaction value also implies an acquisition multiple of 6.4x 2021 consensus revenue estimates for ExOne.
  • Upon closing of the transaction, current Desktop Metal shareholders will own between 85 and 88% and current ExOne shareholders are expected to own between 12 and 15% of the combined company, respectively.
• The transaction is expected to close in Q4 of 2021.