RTTNews | Aug 12, 2021 10:20AM EDT

10:19 Thursday, August 12, 2021 (RTTNews.com) - ExOne Co. (XONE) shares are trading more than 42 percent higher on Thursday morning trade after signing of a definitive agreement to be acquired by Desktop Metal, Inc. (DM) The company also reported a surge in its second-quarter revenues.

Under the terms of the agreement, ExOne shareholders will receive $8.50 in cash and $17.00 in shares of Desktop Metal common stock for each share of ExOne common stock, for a total consideration of $575 million.

The deal implies 47.6 percent premium to the closing price of ExOne's common stock on August 11.

The industrial sand binder jet 3D printing technology provider reported a second-quarter net loss of $5.57 million or $0.25 per share, compared to net loss of $4.02 million or $0.24 per share in the prior year.

Total revenue for the quarter increased 69 percent to $18.78 million from $11.09 million in the previous year.

Currently, shares are trading at $24.60, up 42.36 percent on a volume of 2,705,315. For the 52-week period, the shares have traded in a range of $9.20 - $66.48 on average volume of 486,106.

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