Why Stratasys Shares Are On The Limelight Today

Stratasys Ltd. SSYS shares are trading higher Tuesday morning after receiving an enhanced proposal from 3D Systems Corp DDD.

In addition, Nano Dimension Ltd. NNDM has increased the offer price of its special tender offer from $18.00 to $20.05 per share in cash and changed the percentage of Stratasys shares being sought from 38.8%-40.8% to 31.9%-36.9%.

Under the revised offer, DDD will acquire Stratasys for $7.50 in cash and 1.3223 newly issued shares of 3D Systems common stock per ordinary share of Stratasys.

As of market close on June 26, the revised proposal represents a value per Stratasys share of ~$20 based on 3D Systems' 10-day volume-weighted average price, representing a premium of 33% to Stratasys closing share price on May 24, 2023.

This combination would result in Stratasys shareholders owning ~41% of the combined company and receiving ~$540 million in cash.

Under the previous offer, Stratasys shareholders would have owned 40% of the combined company and received about $540 million in cash.

Stratasys confirmed receiving a revised proposal from DDD and intends to review it carefully in consultation with its independent financial and legal advisors.

Meanwhile, Stratasys Board has not changed its unanimous approval and recommendation of the previously announced transaction with Desktop Metal, Inc. DM.

Price Action: SSYS is higher by 8.07% at $17.54 on the last check Tuesday.