What happened

Shares of Trine Acquisition Corp (TRNE), a special purpose acquisition company, or SPAC, surged in early trading Wednesday and are now up 13.2% at 1 p.m. EDT after the company announced that it will purchase and take public additive manufacturer Desktop Metal in a reverse merger IPO.

So what

Trine explained that Desktop Metal "is a leader in mass production and turnkey additive manufacturing solutions, offering the fastest metal 3D printing technology in the market, up to 100x the speed of legacy technologies." 

3D printer

Image source: Getty Images.

Ford (F 0.41%) seems to agree. In 2018, the Michigan automaker invested $65 million of its own money in Desktop Metal, joining a list of prior investors in the company that included everyone from BMW to GE and Google -- and additive-manufacturing pioneer Stratasys, as well. All of these strategic investors, by the way, will be retaining their stakes in the company (which will add up to 74% ownership) as Desktop Metal joins the public markets under ticker symbol DM on the New York Stock Exchange

As for Trine, it will be investing $300 million of its own cash in Desktop Metal, and organizing a further $275 million in investments via a private investment in public equity, or "PIPE" sale of shares at $10 apiece.

Now what

When all is said and done, Trine says that between its and others' investments, Desktop Metal will carry "an estimated post-transaction equity value of up to $2.5 billion" once the reverse merger takes effect and the company begins trading on the NYSE in Q4 2020.