Xometry, which operates an online marketplace for on-demand manufacturing, raised $303 million by offering 6.9 million shares at $44, above the range of $38 to $42. Insider T. Rowe Price and new investor Capital World Investors had indicated an interest in purchasing an aggregate of up to $70 million worth of shares in the offering (23% of the deal). At pricing, the company commands a fully diluted market value of $2.0 billion.
Xometry states that it is a leading AI-enabled marketplace for on-demand manufacturing, enabling buyers to efficiently source on-demand manufactured parts and assemblies, and empowering sellers of manufacturing services to grow their businesses. Its buyers include engineers, product designers, procurement and supply chain personnel, inventors, and business owners from businesses of a variety of sizes, ranging from self-funded start-ups to Fortune 100 companies. Since its inception, over 6.0 million parts have been manufactured through Xometry's platform.
Xometry plans to list on the Nasdaq under the symbol XMTR. Goldman Sachs, J.P. Morgan, UBS Investment Bank, Citi, BofA Securities, William Blair, and RBC Capital Markets acted as lead managers on the deal.
