There is a new model coming out soon.. it is the M4. I believe it is priced between the M3 and the M5 and uses 2-12" woofers instead of 15'. Clayton Shaw is a great guy and a joy to talk with.
Love for Spatial Audio Sapphire M5s
I just purchased the newest model of open baffle speakers from Spatial Audio, called the Sapphire M5s. Before I bought them, I did plenty of online research, and found a lot of love for this small company, including some favorable postings on Audiogon. Turns out it wasn't just hype. These speakers sound amazing, and they are only the entry-level model at $3500. My main concern for buying the M5s was that the bass driver is smaller than the other models. But it turns out my M5s integrate really well with my SVS subwoofer (after I messed with room placement). The highs and mids were outstanding from the get go. BTW, I am streaming Tidal from my Macbook using Audinirvana software, running through a Parasound Hint integrated.