Shapeways Teams with Mimaki to Advance Full-Color 3D Printing

  • Full color 3D printing allows for pre-visualization for surgery preparation, extensive real estate development models, and customizable collectibles
  • Mimaki’s printers allow for extensive shading and color saturation by utilizing over ten million colors
  • Pairing Mimaki’s expertise of full color printing with the 3D printing quality and consistency of Shapeways gives customers more flexibility

NEW YORK — (BUSINESS WIRE) — May 26, 2021 — Shapeways, a leading global digital manufacturing platform driven by proprietary software, is teaming with Mimaki to take full-color 3D printing to the next level. Harnessing the true power to 3D printing in full color, Shapeways’ High Definition Full Color material from Mimaki is one of the most complete offerings with ten million colors, nearly unlimited choices, and versatile post-processing options all driven seamlessly by Shapeways end-to-end digital manufacturing platform and purpose-built software. Utilized for full production products and parts this material is a focal point for Shapeways’ customers looking to move beyond prototypes.

On April 28, 2021, Shapeways entered into an Agreement and Plan of Merger and Reorganization with Galileo Acquisition Corp. (NYSE: GLEO), a special purpose acquisition company, pursuant to which Shapeways will be acquired by Galileo. Upon the closing of the acquisition, the combined company will be named Shapeways Holdings, Inc. and is expected to remain listed on the NYSE. The business combination values Shapeways at a $410 million pro forma enterprise value. The transaction is expected to provide more than $195 million of net proceeds to Shapeways, including a $75 million fully committed common stock PIPE, which implies an equity value of $605 million assuming minimal redemptions by Galileo shareholders.

Continuing to Pursue 3D Printing Quality and Consistency

Shapeways gives customer instant quote access to High Definition Full Color material through the purpose-built software. Adding the Mimaki material is a logical step in moving the industry forward and giving customers exactly what they want. The ability to 3D print in color, thanks to their experience in reproducing and managing color, and expertise from Shapeways in 3D printing, streamlined workflow, and production makes for a strong team.

“Shapeways is known for their quality and consistency,” said Josh Hope, Senior Manager for Digital Imaging and Innovation at Mimaki. “Our expertise in 2D color printing allowed us to approach the 3D printing world differently by starting with color. Offering High Definition Full Color to the customer base of Shapeways made sense because it can be used in so many ways.”

Colored resin is jetted directly onto the print bed of the Mimaki printer, relying on specific color profiles generated by characterization data. Stunning shading, contrast, and fine detail are all possible, including more expanded choices in terms of color gradients and texture too. Customers engage in creating more complex designs that take advantage of the ability to design with greater flexibility.

Full Color 3D Printing is Desired for a Wide Range of Applications

The realm of full-color 3D printing with High Definition Full Color offers exceptional details in color and modeling, excellence in accuracy and resolution, and unprecedented photorealism for critical applications like medicine—especially for surgical prep models.

Real estate developers can also explore the entire infrastructure of a city block manufactured with 3D printing to demonstrate how buildings would be constructed and arranged, along with accompanying landscaping and infrastructure. Lastly, tabletop gamers discovered the nearly unlimited options available through companies like Hero Forge several years ago and continue to create customizable collectibles that could not be made without 3D printing.

“Adding full-color printing from Mimaki brings vast depth and detail to applications across multiple industries,” said Aidan O’Sullivan, Vice President Operations at Shapeways. “At Shapeways, we leverage world-class printing technologies and apply our vast expertise and rigorous quality procedures to help change the landscape of additive manufacturing.”

About Shapeways

Shapeways’ digital manufacturing platform offers customers access to high quality manufacturing from start to finish through automation, innovation and digitization. The company’s purpose-built software, wide selection of materials and technologies, and global supply chain lower manufacturing barriers and speed delivery of quality products. Shapeways’ digital manufacturing services have empowered more than one million customers worldwide to produce more than 21 million parts using 11 different technologies and 90 different materials and finishes. Headquartered in New York City, Shapeways has ISO 9001-compliant manufacturing facilities in Long Island City, N.Y., and the Netherlands and a network of innovative partners around the globe. It was founded in 2008 and spun-out of the Lifestyle Incubator of Royal Philips Electronics in 2010. Investors include Lux Capital, Union Square Ventures, Andreessen Horowitz, INKEF Capital, Index Ventures and Hewlett Packard Ventures.

Forward-Looking Statements

This release contains, and certain oral statements made by representatives of Galileo and Shapeways and their respective affiliates, from time to time may contain, “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Galileo’s and Shapeways’ actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Galileo’s and Shapeways’ expectations with respect to future performance of Shapeways, anticipated financial impacts of the proposed transaction (the “Transaction”), the anticipated addressable market for Shapeways, the satisfaction of the closing conditions to the Transaction, the pre-money valuation of Shapeways (which is subject to certain inputs that may change prior to the closing of the Transaction and is subject to adjustment after the closing of the Transaction), and the timing of the closing of the Transaction. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside the control of Galileo and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; (2) a default by one or more of the investors in the PIPE on its commitment, and Galileo's failure to retain sufficient cash in its trust account or find replacement financing in order to meet the $100,000,000 minimum cash condition in the Merger Agreement; (3) the inability to consummate the Transaction, including due to failure to obtain approval of the shareholders of Galileo or other conditions to the closing in the Merger Agreement; (4) delays in obtaining or the inability to obtain any necessary regulatory approvals required to complete the Transaction; (5) the inability to obtain the listing of Galileo’s securities on NYSE following the Transaction; (6) the risk that the Transaction disrupts current plans and operations as a result of the announcement and consummation of the Transaction; (7) the ability to recognize the anticipated benefits of the Transaction, which may be affected by, among other things, competition, the ability of Shapeways to grow and manage growth economically and hire and retain key employees; (8) costs related to the Transaction; (9) changes in applicable laws or regulations; (10) the effect of the COVID-19 pandemic on Galileo or Shapeways and their ability to consummate the Transaction; (11) the possibility that Galileo or Shapeways may be adversely affected by other economic, business, and/or competitive factors; and (12) other risks and uncertainties to be identified in the registration/proxy statement (when available) relating to the Transaction, including those under “Risk Factors” therein, and in other filings with the Securities and Exchange Commission (the “SEC”) made by Galileo or Shapeways. Galileo and Shapeways caution that the foregoing list of factors is not exclusive, and caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. None of Galileo or Shapeways undertakes or accepts any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law.

Readers are referred to the most recent reports filed with the SEC by Galileo. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and Galileo undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

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