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OFFON

DESKTOP METAL, INC.

(DM)
  Report
Delayed Quote. Delayed Nyse - 06/24 04:10:00 pm
13.01 USD   +0.08%
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TRINE ACQUISITION CORP. : Submission of Matters to a Vote of Security Holders (form 8-K)

12/08/2020 | 03:00pm EDT

Item 5.07 Submission of Matters to a Vote of Security Holders

On December 8, 2020, Trine Acquisition Corp. (the "Company" or "Trine") convened the special meeting of stockholders (the "Special Meeting") held in connection with the Company's previously announced business combination (the "Merger") with Desktop Metal, Inc. ("Desktop Metal") and Sparrow Merger Sub, Inc. ("Merger Sub") pursuant to the Agreement and Plan of Merger, dated as of August 26, 2020 (as it may be amended and/or restated from time to time, the "Merger Agreement") and the transactions contemplated thereby. Pursuant to the terms of the Merger Agreement, a business combination between Trine and Desktop Metal will be effected through the merger of Merger Sub with and into Desktop Metal, with Desktop Metal surviving the merger as a wholly owned subsidiary of Trine. Each proposal voted on at the Special Meeting is described in detail in the Company's definitive proxy statement/consent solicitation statement/prospectus filed with the U.S. Securities and Exchange Commission and mailed to stockholders on November 10, 2020 (the "Proxy Statement").

As of the close of business on October 30, 2020, the record date for the Special Meeting, there were an aggregate of 37,518,750 shares of Class A common stock, par value $0.0001 per share, and Class B common stock, par value $0.0001 per share (together, the "Common Stock"), outstanding, each of which was entitled to one vote with respect to the adjournment proposal. A total of 22,230,107 shares of Common Stock, representing approximately 59.25% of the outstanding shares of Common Stock entitled to vote, were present in person or by proxy, constituting a quorum.

The voting results for the proposals voted on at the Special Meeting are set forth below:

1. The Business Combination Proposal - To approve the Merger Agreement and the transactions contemplated thereby



   For       Against   Abstain
22,206,270    4,377    19,460



2. The Charter Amendment Proposals - To adopt an amendment to Trine's amended and restated certificate of incorporation currently in effect in the form attached to the Merger Agreement



   For       Against   Abstain
22,189,987    6,359    33,761



3. The Charter Approval Proposal - To adopt the Second Amended and Restated Certificate of Incorporation (the "Proposed Charter") in the form attached to the proxy statement/consent solicitation statement/prospectus



   For       Against   Abstain
22,178,535    9,199    42,373









4. The Governance Proposal - To act upon, on a non-binding advisory basis, a separate proposal with respect to certain governance provisions in the Proposed Charter in order to give holders of Trine's common stock the opportunity to present their separate views on important corporate governance procedures




                                                             FOR        AGAINST    ABSTAIN

Proposal 4A - Required Vote to Amend the Charter 19,128,053 3,057,505 44,549 Proposal 4B - Required Vote to Amend the Bylaws

           19,115,724   3,057,485     56,898
Proposal 4C - Director Removal                            19,042,883   3,070,493    116,731

Proposal 4D - Removal of Blank Check Company Provisions 22,150,061 17,720 62,326

5. The Director Election Proposal - To elect 10 directors to serve on the board of directors of the post-combination Company until the 2021 annual meeting of stockholders, in the case of Class I directors, the 2022 annual meeting of stockholders, in the case of Class II directors, and the 2023 annual meeting of stockholders, in the case of Class III directors, and, in each case, until their respective successors are duly elected and qualified



                      FOR        AGAINST    ABSTAIN
Ric Fulop          22,107,592      19,336   103,179
Dayna Grayson      22,109,948      19,935   100,224
Leo Hindery, Jr.   19,635,132   2,489,264   105,711
Wen Hsieh          22,097,577      23,367   109,163
Jeff Immelt        21,812,393     312,502   105,212
Byron Knight       22,105,087      15,026   109,994
Stephen Nigro      22,099,690      16,673   113,744
Steve Papa         21,396,903     722,882   110,322
Andy Wheeler       22,106,605      16,486   107,016
Bilal Zuberi       22,040,171      87,261   102,675



6. The Merger Issuance Proposal - To approve, for purposes of complying with applicable listing rules of the New York Stock Exchange (the "NYSE"), the issuance of shares of Class A common stock pursuant to the business combination




   For       Against   Abstain
22,197,533    6,658    25,916




7. The Subscription Amount Proposal - To approve, for purposes of complying with applicable listing rules of the NYSE, the issuance of shares of Class A common stock pursuant to the subscription agreements)



   For       Against   Abstain
22,186,068    6,283    37,756



8. The Incentive Plan Proposal - To approve and adopt the Desktop Metal, Inc. 2020 Incentive Award Plan




   For        Against    Abstain
17,081,855   5,072,635   75,617

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 102 M - -
Net income 2021 -76,8 M - -
Net cash 2021 704 M - -
P/E ratio 2021 -39,4x
Yield 2021 -
Capitalization 3 322 M 3 322 M -
EV / Sales 2021 25,8x
EV / Sales 2022 13,4x
Nbr of Employees 202
Free-Float 78,2%
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 13,00 $
Average target price 17,00 $
Spread / Average Target 30,8%
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Managers and Directors
NameTitle
Ric Fulop Chairman & Chief Executive Officer
Steve Billow President
James Haley Chief Financial Officer & Treasurer
Jonah Myerberg Chief Technology Officer
Bilal Zuberi Independent Director
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