Desktop Metal, Inc. entered into a letter agreement to acquire Trine Acquisition Corp. (NYSE:TRNE) ('TRNE') for $1.9 billion in a reverse merger transaction on August 5, 2020. Desktop Metal, Inc. entered into definitive agreement to acquire Trine Acquisition Corp. in a reverse merger transaction on August 26, 2020. Each share of each series of Desktop Metal preferred stock and each share of Desktop Metal common stock issued and outstanding immediately prior to the effective time of the Business Combination (other than shares owned by Desktop Metal as treasury stock or dissenting shares) will be converted into the right to receive a number of shares of Trine Class A common stock (deemed to have a value of $10 per share) with an aggregate implied value. Trine will issue 183 million new shares to acquire Desktop Metal. Upon completion, Desktop Metal’s existing shareholders will hold approximately 74% of the issued and outstanding shares of common stock immediately following the closing of the business combination. All significant Desktop Metal shareholders including, Lux Capital, NEA, Kleiner Perkins, Ford Motor Company, GV and Koch Disruptive Technologies will retain their equity holdings in the combined company. Cash proceeds in connection with the transaction will be funded through a combination of Trine’s $300 million in cash in trust (subject to any stockholder redemptions) and a $275 million fully committed private investment in public equity at $10 per share, including investments from funds and affiliates of Miller Value Partners, XN, Baron Capital Group, Chamath Palihapitiya, JB Straubel, and HPS Investment Partners. Upon closing of the transaction, the combined operating company will be named Desktop Metal, Inc. and will continue to be listed on the New York Stock Exchange and trade under the ticker symbol “DM”. In case of termination of the transaction, Desktop Metal will pay TRNE a fee of $54.9 million. Leo Hindery will join Desktop Metal’s Board. Completion of the proposed transaction is subject to completion of due diligence, approval of TRNE and Desktop Metal stockholders, the satisfaction of the minimum trust account amount following redemptions by TRNE's public shareholders, amendment of existing Trine Charter, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, TRNE having at least $5.000001 million of net tangible assets remaining after the redemption offer, the receipt of the approval for listing by the New York Stock Exchange of the common stock to be issued in connection with the transactions, the effective resignations of certain directors and executive officers of TRNE, the Certificate of Incorporation shall be amended by Trine Charter amendment, the amount of closing acquirer cash being equal to or exceeding two hundred million, the receipt of certain governmental and regulatory approvals and other closing conditions, including a registration statement being declared effective by the Securities and Exchange Commission and the receipt of a tax opinion, dated as of the closing date from counsel to Desktop Metal, to the effect that, for U.S. federal income tax purposes, the Business Combination will constitute a "reorganization" within the meaning of Section 368(a) of the Code. The Boards of Directors of both Desktop Metal and TRNE have unanimously approved the proposed transaction and recommend Trine stockholders vote "FOR" the transaction. As of September 15, 2020, FTC granted the early termination notice and Trine Acquisition has filed a registration statement on Form S-4 with the U.S. Securities and Exchange Commission. The registration statement was declared effective on November 10, 2020. The shareholders of TRNE approved the transaction at Special meeting on December 8, 2020. The transaction is expected to be completed in the fourth quarter of 2020. Ryan Maierson, Susan Mazur, Emily Taylor, John Chory, Sam Weiner, Sarah Gagan, Jason Cruise, Max Hauser, Peter Todaro, Joel Mack, Joshua Marnitz and David Della Rocca of Latham & Watkins LLP acted as the legal advisors to Desktop Metal, Inc. Ted Ackerman, Eric Goodison, Jeffrey Marell, Raphael Russo, Lawrence Witdorchic, Gregory Laufer and Jennifer Wu, Steven Herzog, Salvatore Gogliormella, David Mayo, Marta Kelly, Yuni Sobel and William O’Brien of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as the legal advisors, Innisfree M&A Inc. acted as the information agent, Continental Stock Transfer & Trust Company acted as the transfer agent and BTIG, LLC acted as the financial advisor to Trine Acquisition Corp. Desktop Metal, Inc. completed the acquisition of Trine Acquisition Corp. (NYSE:TRNE) in a reverse merger transaction on December 9, 2020. The common stock and warrants are expected to commence trading on the New York Stock Exchange under the new ticker symbol “DM” and “DM.WT” on December 10, 2020. Upon closing, Leo Hindery, Jr. joins Desktop Metal’s board.