Shapeways Holdings, Inc. announced a private placement to issue a secured promissory note for principal amount of $669,500 on June 10, 2024. The transaction will include participation from new lender, 3DP Custom Manufacture, LLC. The note has a per annum interest rate equal to the one-month term secured overnight financing rate plus 6% and a maturity date of July 5, 2024.

Principal and accrued interest are due in full on the maturity date, which may be extended in increments of fourteen days at the sole discretion of Lender. The Borrowers may prepay all or any portion of the Note at any time without penalty. Upon the occurrence of an event of default, interest shall accrue on the Note at a per annum interest rate of SOFR plus 10%.

Events of default include, among other things, failure to pay principal or interest when due and insolvency events. Interest due on the Note shall be retroactively increased from the Initial Rate to the Default Rate upon an insolvency event. Interest accrued on the Note is capitalized and paid-in-kind on a weekly basis.

The Borrowers agreed to pay the Lender an upfront fee of $19,500, which was automatically capitalized as an equivalent principal amount of the Note. The Commitment Fee shall be forgiven in certain circumstances. The Note is secured by all assets of the Borrowers, subject to limited exceptions for existing security interests.