Xometry Inc. XMTR, 57.75%, an AI-driven marketplace for on-demand manufacturing, said its initial public offering priced at $44 a share, above its proposed price range of $38 to $42. The company sold 6.9 million shares to raise $303.6 million. The stock will start trading on Nasdaq later Wednesday under the ticker “XMTR.”
There were 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.