It seems that the 3-D printing battle is heating up after the supplier of 3D printers, Nano Dimension Ltd. (NASDAQ: NNDM) launched a special tender offer for Stratasys (SSYS) of $18 per share in cash to purchase between 38.8% and 40.8% of the outstanding ordinary shares of the company that would enable it to increase its ownership in Stratasys to between 53% and 55% of its outstanding shares, inclusive of the around 14.2% of Stratasys’ outstanding ordinary shares that Nano Dimension currently owns.
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NNDM’s special tender offer represents a premium of 26% to the unaffected closing price and a 39% premium to the 60-day Volume Weighted Average Price (VWAP) of SSYS as of March 3.
Yoav Stern, Nano Dimension’s Chairman, and CEO commented, “As we had previously indicated to the Stratasys Board, given their continued refusal to engage in negotiations, we have decided to present our offer directly to Stratasys’ shareholders. We believe our offer delivers certain all-cash value to Stratasys’ shareholders at a premium in excess of what Stratasys can deliver to its shareholders.”
This tender offer came almost immediately after Stratasys announced the acquisition of Desktop Metal (DM).
In the past year, NNDM stock has crashed by more than 10%.
