{"id":786839,"date":"2023-09-28T13:54:41","date_gmt":"2023-09-28T17:54:41","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\/"},"modified":"2023-09-28T13:54:41","modified_gmt":"2023-09-28T17:54:41","slug":"desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\/","title":{"rendered":"Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement"},"content":{"rendered":"<p>        <!--.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><i>While Desktop Metal stockholders voted to approve the merger agreement, Stratasys announced its stockholders \u2013 faced with two alternative acquisition offers for its company \u2013 did not likely vote in favor of the merger agreement proposals<\/i><\/li>\n<li><i>Merger agreement with Stratasys has been terminated, with DM to be compensated agreed-upon fees<\/i><\/li>\n<li><i>Desktop Metal remains focused on continued improvements in non-GAAP gross margins, operating expenses, adjusted EBITDA, and operating cash flow \u2013 en route to our stated goal of adjusted Q4 EBITDA profitability<\/i><\/li>\n<\/ul>\n<p>BOSTON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nDesktop Metal, Inc. (NYSE: DM), a global leader in Additive Manufacturing (AM) 2.0 technologies for mass production of metal, polymer, ceramic, and health products, today announced that its stockholders approved the merger agreement with Stratasys Ltd. (Nasdaq: SSYS), a leader in polymer 3D printing solutions.<\/p>\n<p>\nHowever, at a special meeting of Stratasys stockholders on Sept. 28, Stratasys announced that a preliminary tally indicated that it did not obtain stockholder approval for the proposals related to the merger agreement. Consequently, the previously announced merger agreement has been terminated and DM is to be compensated agreed-upon fees.<\/p>\n<p>\n\u201cWe\u2019re grateful for our shareholders\u2019 support. While the team at Desktop Metal believed in the merits of our combination, and is disappointed in the outcome of the merger agreement, we are completely confident in the trajectory of our business, which continues to lower operating costs while growing revenue,\u201d said Ric Fulop, Founder and CEO of Desktop Metal. \u201cOur plan to reduce costs and generate revenue remains on track as customers continue transitioning to our AM 2.0 technologies for mass production of metal, polymer, ceramic and health products.\u201d<\/p>\n<p>\nDesktop Metal entered the second half with cash of $127.6 million, and has demonstrated improvements to operating cash management over multiple quarters.<\/p>\n<p><b>About Desktop Metal<\/b><\/p>\n<p>\nDesktop Metal (NYSE:DM) is driving Additive Manufacturing 2.0, a new era of on-demand, digital mass production of industrial, medical, and consumer products. Our innovative 3D printers, materials, and software deliver the speed, cost, and part quality required for this transformation. We\u2019re the original inventors and world leaders of the 3D printing methods we believe will empower this shift, binder jetting and digital light processing. Today, our systems print metal, polymer, sand and other ceramics, as well as foam and recycled wood. Manufacturers use our technology worldwide to save time and money, reduce waste, increase flexibility, and produce designs that solve the world\u2019s toughest problems and enable once-impossible innovations. Learn more about Desktop Metal and our #TeamDM brands at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.desktopmetal.com%2F&amp;esheet=53565631&amp;newsitemid=20230928058926&amp;lan=en-US&amp;anchor=www.desktopmetal.com&amp;index=1&amp;md5=7e4fcd2c693db4525493fb1f0c3df276\">www.desktopmetal.com<\/a>.<\/p>\n<p><b>Forward-looking Statements<\/b><\/p>\n<p>\nThis press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements about Desktop Metal\u2019s strategic integration and cost savings initiatives, expected restructuring charges, anticipated cost savings, long-term growth, market share, liquidity and profitability, are forward-looking statements. Forward-looking statements generally are identified by the words \u201cbelieve,\u201d \u201cproject,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cstrategy,\u201d \u201cfuture,\u201d \u201copportunity,\u201d \u201cplan,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cwill be,\u201d \u201cwill continue,\u201d \u201cwill likely result,\u201d and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to, the risks and uncertainties set forth in Desktop Metal, Inc.&#8217;s filings with the U.S. Securities and Exchange Commission. There is no guarantee Desktop Metal will achieve the cost savings it expects. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Desktop Metal, Inc. assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230928058926r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230928058926\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230928058926\/en\/<\/a><\/span><\/p>\n<p><b>Media Relations:<br \/>\n<\/b><br \/>Sarah Webster<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:sarahwebster@desktopmetal.com\">sarahwebster@desktopmetal.com<br \/>\n<\/a><br \/>(313) 715-6988<\/p>\n<p><b>Investor Relations:<br \/>\n<\/b><br \/>Jay Gentzkow<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:jaygentzkow@desktopmetal.com\">jaygentzkow@desktopmetal.com<br \/>\n<\/a><br \/>(781) 730-2110<\/p>\n<p><b>KEYWORDS:<\/b> United States North America Massachusetts<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Chemicals\/Plastics Other Manufacturing Manufacturing Steel<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230928058926\/en\/728102\/3\/Desktop_Metal_logo_horizontal.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement While Desktop Metal stockholders voted to approve the merger agreement, Stratasys announced its stockholders \u2013 faced with two alternative acquisition offers for its company \u2013 did not likely vote in favor of the merger agreement proposals Merger agreement with Stratasys has been terminated, with DM to be compensated agreed-upon fees Desktop Metal remains focused on continued improvements in non-GAAP gross margins, operating expenses, adjusted EBITDA, and operating cash flow \u2013 en route to our stated goal of adjusted Q4 EBITDA profitability BOSTON&#8211;(BUSINESS WIRE)&#8211; Desktop Metal, Inc. (NYSE: DM), a global leader in Additive Manufacturing (AM) 2.0 technologies for mass production &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-786839","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement While Desktop Metal stockholders voted to approve the merger agreement, Stratasys announced its stockholders \u2013 faced with two alternative acquisition offers for its company \u2013 did not likely vote in favor of the merger agreement proposals Merger agreement with Stratasys has been terminated, with DM to be compensated agreed-upon fees Desktop Metal remains focused on continued improvements in non-GAAP gross margins, operating expenses, adjusted EBITDA, and operating cash flow \u2013 en route to our stated goal of adjusted Q4 EBITDA profitability BOSTON&#8211;(BUSINESS WIRE)&#8211; Desktop Metal, Inc. (NYSE: DM), a global leader in Additive Manufacturing (AM) 2.0 technologies for mass production &hellip; Continue reading &quot;Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-28T17:54:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230928058926r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement\",\"datePublished\":\"2023-09-28T17:54:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\\\/\"},\"wordCount\":733,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20230928058926r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\\\/\",\"name\":\"Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\/","og_locale":"en_US","og_type":"article","og_title":"Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement - Market Newsdesk","og_description":"Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement While Desktop Metal stockholders voted to approve the merger agreement, Stratasys announced its stockholders \u2013 faced with two alternative acquisition offers for its company \u2013 did not likely vote in favor of the merger agreement proposals Merger agreement with Stratasys has been terminated, with DM to be compensated agreed-upon fees Desktop Metal remains focused on continued improvements in non-GAAP gross margins, operating expenses, adjusted EBITDA, and operating cash flow \u2013 en route to our stated goal of adjusted Q4 EBITDA profitability BOSTON&#8211;(BUSINESS WIRE)&#8211; Desktop Metal, Inc. (NYSE: DM), a global leader in Additive Manufacturing (AM) 2.0 technologies for mass production &hellip; Continue reading \"Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\/","og_site_name":"Market Newsdesk","article_published_time":"2023-09-28T17:54:41+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230928058926r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement","datePublished":"2023-09-28T17:54:41+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\/"},"wordCount":733,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230928058926r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/desktop-metal-remains-focused-on-path-to-profitability-after-preliminary-tally-shows-stratasys-shareholders-did-not-approve-the-merger-agreement\/","name":"Desktop Metal Remains Focused on Path to Profitability After Preliminary Tally Shows Stratasys Shareholders Did Not Approve the Merger Agreement - 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