XOM Stock – Xometry files for proposed IPO on Nasdaq Global Select Market
On-demand manufacturing company Xometry has announced its filing for a proposed initial public offering on the Nasdaq Global Select Market.
The company has filed a registration statement on Form S-1 with the U/S/ Securities and Exchange Commission (SEC) relating to a proposed initial public offering of shares of its Class A common stock. As of yet, the number of shares to be offered and the price range for the proposed offering have not yet been determined, though the company has said it intends to list its stock under the symbol ‘XMTR’.
Goldman Sachs & Co. LLC, J.P. Morgan and UBS Investment Bank will act as joint lead book-running managers and as representatives of the underwriters for the proposed offering. Citigroup, (BofA) Securities, William Blair and RBC Capital Markets will also act as book-running managers.
Xometry has made its move to go public eight years after the company was founded by CEO Randy Altschuler. In that time, the company has grown to a workforce of 300 people, established a network of 5,000 manufacturers across the US, Europe and Asia and served more than 25,000 customers. Among its customer base are the likes of GE, BMW, NASA, Dell and Bosch who harness Xometry’s CNC machining, 3D printing and injection moulding services for a wide range of components.
While growing its supplier network and client base, Xometry has also successfully completed several funding rounds. In September 2020, the company announced it had raised an additional $75m to take its total raised up to nearly $200m. It is now in the process of going public, joining the likes of Desktop Metal, Markforged and Shapeways to make such announcements in the last 12 months.
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