Desktop Metallic has filed for Chapter 11 chapter and is working to promote a variety of overseas subsidiaries, together with ExOne GmbH, to an affiliate of Anzu Companions.
Anzu Companions had beforehand agreed to accumulate Voxeljet final yr, however Voxeljet shareholders rejected the deal earlier this month. Now, associates of the funding agency have positioned themselves to accumulate ExOne GmbH, EnvisionTEC GmbH, ExOne KK, and AIDRO s.r.l. by means of a court-supervised course of.
To ‘defend the enterprise whereas it markets its remaining property’, Desktop Metallic has filed for Chapter 11 chapter within the Southern District of Texas. Chapter 11 chapter permits an organization time to restructure money owed whereas it continues to function. Quick Radius is one such additive manufacturing firm to file for Chapter 11 chapter, with the firm ultimately being bought for $15.9m only a yr after itemizing publicly.
Desktop Metallic has pursued a Chapter 11 chapter simply weeks after Nano Dimension accomplished the acquisition of the corporate. Although agreed final yr, the deal was put into doubt when Nano skilled a raft of modifications at C-suite and board stage in late 2024 and early 2025. Desktop Metallic filed a lawsuit towards Nano Dimension in January, with the courtroom ordering the shopping for firm to finish the deal in March. Nano did, however instantly introduced it could be exploring ‘all strategic alternate options’ to deal with Desktop Metallic’s liabilities and liquidity wants that stemmed from ‘selections made by its prior administration.’
Off the again of this courtroom battle, Quinn Emanuel Urquhart & Sullivan LLP, who represented Desktop Metallic, has claimed ‘Desktop Metallic and its successor’ have didn’t pay round $30 million in authorized charges. The authorized agency is now taking authorized motion of its personal and is demanding damages of as much as $90 million.
After information broke of Desktop Metallic’s Chapter 11 chapter, Nano Dimension introduced that the choice was made by Desktop Metallic’s impartial Board of Administrators.
Ofir Baharav, Nano Dimension’s CEO, stated: “We’re safeguarding our monetary energy and preserving our place as the very best capitalised firm in our ecosystem. That is what allows the corporate to pursue strategic alternatives from a place of most energy—and that’s precisely what the corporate’s shareholders ought to anticipate from us.”
