What's Going On With Stratasys Stock Today

  • Stratasys, Ltd SSYS stock is trading higher Thursday following Nano Dimension Ltd's NNDM unsolicited special tender offer to acquire between 53% and 55% ownership of Stratasys.
  • Nano Dimension proposed to acquire between 53% - 55% ownership of Stratasys for $18.00 per share in cash.
  • Nano Dimension's all-cash special tender offer represents a premium of 26% to Stratasys' closing price of $14.26 as of March 3, 2023.
  • Nano Dimension has been trying to woo Stratasys since at least March 2023
  • Earlier today, Stratasys agreed to merge with Desktop Metal, Inc DM in an all-stock transaction valued at approximately $1.8 billion.
  • Desktop Metal stockholders will receive 0.123 ordinary shares of Stratasys for each share of Desktop Metal Class A common stock.
  • The purchase consideration implies a premium of 7.4% to Desktop Metal's May 24 closing of $1.75.
  • The combined company will likely generate approximately $50 million in additional annual run-rate cost synergies by 2025, targeting 10%-12% adjusted EBITDA margins in 2025.
  • Stratasys shareholders will own approximately 59% of the combined company, and legacy Desktop Metal stockholders will hold about 41%.
  • Price Action: SSYS shares traded higher by 3.16% at $15.35 on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: M&ANewsPenny StocksSmall CapMoversBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!