Xometry Inc. , a AI-driven marketplace for on-demand manufacturing, set terms for its initial public offering on Monday, with plans to offer 6.9 million shares priced at $38 to $42 each at a valuation of up to $1.5 billion. The company has applied to list on Nasdaq under the ticker “XMTR.” There are nine banks underwriting the deal, led by Goldman Sachs, JP Morgan and UBS. Proceeds of the deal will be used for generate corporate purposes. The company had a net loss of $39.9 million in 2020, wider than the loss of $30.9 million posted for 2019. revenue climbed to $141.4 million from $80.2 million.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
