Upon merging with special-purpose acquisition firm (SPAC) SMG Expertise Acceleration SE, massive format 3D printer producer BigRep has efficiently listed on the Frankfurt Inventory Alternate beneath the ticker B1GR. The general public itemizing, symbolized by a ceremonial bell ringing on July 31, 2024, was attended by BigRep’s executives, key traders, and media representatives.
The itemizing is the end result of a strategic course of initiated in early 2024 when BigRep introduced its merger with the Luxembourg-based SMG Expertise Acceleration SE. Upon merging with SMG, the corporate has turn into BigRep SE, valued at roughly €157 million, with Dr. Sven Thate and Dr. Reinhard Festag taking the roles of CEO and CFO, respectively. In his speech on the bell-ringing ceremony, CEO Thate mentioned:
“Going public permits us to assume larger and pursue our buy-and-build technique. We see nice progress and synergy alternatives by increasing inorganically. The present market situations will solely improve consolidation strain, giving us an opportunity to make use of our public itemizing to profit our shareholders.”
The itemizing represents a lot of modifications each for the additive manufacturing (AM) business and BigRep. After the SPAC craze that occurred in tandem with the loosening of COVID-19 restrictions, mergers with these specialty firms cooled off because of an financial slowdown. In flip, most public firms that listed because of SPAC mergers confronted important monetary difficulties, together with inventory worth collapses, repeated de-listing notices, and even full enterprise shutdowns.
Now, BigRep has opted to record through the identical technique. Normally, the observe of performing reverse mergers with publicly listed companies, together with SPACs, has been criticized as a result of such listings require much less general scrutiny from authorities our bodies.
The BigRep NERA, a 3D printed E-Bike made utilizing BigRep expertise.
That mentioned, it’s attainable that BigRep will succeed regardless of the previous document of SPAC firms. In reality, it could possibly achieve this partly due to the failures of the previous. The corporate might study from the problems confronted by these prior companies, whereas traders might have a greater understanding of what pink flags to search for. We might even see a brand new sequence of IPOs, together with SPAC listings, the place extra European firms take part within the development. In spite of everything, Swiss agency Exentis can also be contemplating a public itemizing this 12 months.
Turning to the general public markets for additional financing ought to enable BigRep to proceed its progress trajectory. The corporate has been on an extended journey that started with large-format open air machines to more and more automated and heated chamber methods. Its product line contains the newly launched VIIO 250, probably the most automated of BigRep’s portfolio. The corporate’s portfolio additionally options the ALTRA 280 and IPSO 105 printers, a part of its acquisition of HAGE3D, that are designed for high-temperature purposes and complement BigRep’s current product choices.
The BigRep VIIO 250 on the Frankfurt Inventory Alternate buying and selling flooring.
With its buy of HAGE3D, we’d guess that BigRep will pursue some non-organic progress. This might embody the acquisition of a agency that designs 3D printers that depend on industrial robotic arms or a software program firm that would additional improve BigRep’s person expertise and high quality management. We would even think about the acquisition of a steel 3D printer producer, significantly within the wire arc AM or directed vitality deposition house. It will likely be thrilling to see the place the corporate goes subsequent.
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