Why Is 3D Printing Solutions Provider Stratasys Stock Soaring Today?

Stratasys Ltd SSYS shares are trading higher after it disclosed receiving a preliminary acquisition proposal from Nano Dimension Ltd NNDM last week.

NNDM intends to buy all the remaining outstanding shares that it currently doesn't own for $16.50 per share in cash.

In September, SSYS' Board of directors disclosed that they had initiated a process to explore strategic alternatives for the company. 

SSYS' Board will review and consider Nano's unsolicited preliminary proposal, representing a 40% premium from the volume-weighted average shares of SSYS since September 28, 2023.

Notably, SSYS had earlier rejected NNDM's proposal, saying that it significantly undervalued the company.

Nano Dimension currently has over $800 million of net cash and has started discussions with financing sources to support any transaction if it happens. 

Also Read: Additive Manufacturing Company Stratasys Trims FY23 Outlook: Here's Why

Price Action: SSYS shares are up 9.31% at $14.33 premarket on the last check Tuesday.