Shapeways 1-for-8 reverse stock split becomes effective

Shapeways Holdings announced that its previously announced 1-for-8 reverse stock split of the Company’s common stock, par value $0.0001 per share, and corresponding common stock adjustment became effective at 4:01 p.m. Eastern Time on June 22, 2023. The Company’s common stock is expected to begin trading on a split-adjusted basis on the New York Stock Exchange when the markets open on June 23, 2023, under the existing trading symbol “SHPW” and new CUSIP number: 81947T201. The primary goal of the reverse stock split is to increase the per share market price of the Company’s common stock to meet the minimum $1.00 average closing price requirement for continued listing on the NYSE. As a result of the reverse stock split, every eight shares of the Company’s issued and outstanding common stock automatically combined into one share of issued and outstanding common stock. No fractional shares will be issued as a result of the reverse stock split. Instead, each stockholder will be entitled to receive a cash payment in lieu thereof at a price equal to the fraction of one share to which the stockholder would otherwise be entitled multiplied by the closing price per share of the Company’s common stock on the NYSE on June 22, 2023. The reverse stock split did not reduce the number of authorized shares of the Company’s common stock or change the par value of the common stock. The reverse stock split affects all stockholders uniformly and does not affect any stockholder’s ownership percentage of the common stock (except to the extent that the reverse stock split would result in any stockholders owning a fractional share). In addition, the terms of all outstanding options, warrants, and restricted stock units are being proportionately adjusted, in accordance with the terms of the applicable agreement.