Additive manufacturing equipment maker Sakuu has reached a merger agreement with a publicly listed SPAC in a transaction valued at approximately $600 million. The listing will provide the capital needed for capacity expansion, and the company has announced plans to launch its Kavian series additive manufacturing platform in 2027. Sakuu is entering the manufacturing sector with a "multi-material + scale" strategy and has built a rich patent portfolio in metal/ceramic powder printing and dry electrode processes for batteries. This merger is one of the few large-scale capital events in additive manufacturing after a period of industry quiet, contrasting with the continued downturn in equipment maker financing, and the market views it as an early signal of valuation recovery in the sector. Value for powder buyers: ① A recovery in equipment-side financing will transmit along the supply chain to powder demand—new equipment installations will drive installed-base powder consumption and customer development budgets, and leading powder producers can upwardly revise their 2027 shipment forecasts accordingly; ② Watch the material systems and certification lists used in Sakuu's mass-production models, and align in advance with the powder supply qualification requirements for its Kavian platform.