3D Printing Platform Shapeways Transfers Listing from NYSE to Nasdaq

RAPID

Share this Article

Shapeways, a Michigan-based digital marketplace for additive manufacturing (AM) services, announced that the company is transferring its listing from the New York Stock Exchange (NYSE) to the Nasdaq. The company is planning for its ticker (which will remain “SHPW” for common stock) to make the switch on August 1, 2023.

The decision comes a month after Shapeways executed a 1-for-8 reverse stock split of its common stock, a move made in hopes of getting the company’s share price above the $1.00 requirement necessary to avoid being delisted from the NYSE. Shapeways first received an NYSE delisting notice in August, 2022.

The Nasdaq has the same stipulation that listed companies can face delisting if they fail to meet the $1.00 closing price requirement for 30 consecutive days, so the switch seems unrelated in that sense. On the other hand, the Nasdaq is up almost 36 percent YTD, while the NYSE Composite Index is up about 7.5 percent so far this year, so switching to the Nasdaq could potentially ensure that the floor stays higher for Shapeways’ share price.

Additionally, when compared to the disparity between the futures market for the NYSE-heavy S&P 500 and its current levels, Nasdaq futures are trading at a much higher premium relative to current Nasdaq prices. Finally, a tech company like Shapeways could simply have much higher growth potential on the tech-centric Nasdaq.

In a press release about its impending switch to Nasdaq, Shapeways’ CEO, Greg Kress, commented, “We are excited to move to Nasdaq and join many of the world’s leading technology companies as Shapeways continues to push the boundaries of digital manufacturing and software solutions. This move should allow us to benefit from Nasdaq’s cost-effective offering, while also providing us with a platform to expand our market presence, reach a broader investor base, and accelerate our growth trajectory. This transition reflects our commitment to innovation, customer success, and shareholder value creation.”

Karen Snow, the Global Head of Listings at Nasdaq, added, “We are glad to welcome Shapeways to the Nasdaq family and look forward to supporting their continued growth and focus on shareholder value.”

Shapeways’ ribbon-cutting ceremony for its new Livonia, MI manufacturing facility

Shapeways began as a spin-out from Dutch company Royal Phillips Electronics in 2007, and became one of the first companies in the world that provided a digital platform via which customers could both sell and buy 3D printed objects on-demand. In April, 2021, Shapeways announced it was going public via a special-purpose acquisition company (SPAC) deal with Galileo Acquisition Corp.

Thus, despite the rockiness since going public, the company has longevity, and is a unique example of bridging the gap between two very different eras of 3D printing. Much of the difficulties Shapeways has seemingly faced can likely be chalked up to its having entered the public trading arena at one of the worst times to go public in recent memory. The company recently opened two new facilities in Michigan, doubling its US manufacturing capacity and putting it within shouting distance of the all-important Detroit auto market.

As such a high proportion of US public companies are overvalued, at the same time as equities nonetheless appear to be entering a new bull market, bargain hunters could start to take a serious look at a brand like Shapeways. Switching to the Nasdaq might be exactly the fresh start that the company needs.

Images courtesy of Shapeways

Share this Article


Recent News

Navy’s Afloat Additive Manufacturing Program Creates Scalability Model for 3D Printing Industry

UW-Madison Engineers 3D Print RAM Devices in Zero Gravity with NASA Funding



Categories

3D Design

3D Printed Art

3D Printed Food

3D Printed Guns


You May Also Like

3D Printing Financials: Protolabs’ Q1 3D Printing Revenue is Flat, Company Advances in Technology Push

Protolabs (NYSE: PRLB) has kicked off 2024 with a mild boost in revenue, revealing how the Minnesota-based company manages to adapt and thrive even in uncertain market conditions. While the...

NASA Backs Project for 3D Printing Space Sensors

NASA granted $300,000 to Florida State University (FSU) and Florida Agricultural and Mechanical University (FAMU) to pioneer a project using 3D printing to develop cutting-edge sensors capable of withstanding the...

Further Understanding of 3D Printing Design at ADDITIV Design World

ADDITIV is back once again! This time, the virtual platform for additive manufacturing will be holding the first-ever edition of ADDITIV Design World on May 23rd from 9:00 AM –...

Daring AM: Rocket Lab Shoots for the Stars, Astrobotic Wants to 3D Print on the Moon

Once again, space exploration teams up with the 3D printing industry, launching projects that could change how we explore space. Pioneering space manufacturer Rocket Lab (Nasdaq: RKLB) secured a $14.49...