3D Systems announces additional partial repurchase of senior notes

3D Systems announced that it has entered into separate, privately negotiated repurchase agreements with a limited number of holders of its 0% Convertible Senior Notes due 2026 to repurchase $110 million aggregate principal amount of the Notes at approximately a 22% percent discount to par value. The debt repurchase will be paid in cash from the Company’s balance sheet. President and CEO Dr. Jeffrey Graves stated, “Today’s announced additional repurchase of $110 million of our 2026 notes at a significant discount once again demonstrates our approach to proactive liability management and disciplined execution in the current environment. Over the last three months, we have opportunistically reduced our 2026 maturity by over 50% to reinforce the strength of our balance sheet, while we continue to maintain one of the strongest levels of cash reserves in the industry. Today’s transaction in combination with our targeted initiatives to drive enhanced gross margins and cost efficiencies reinforce our belief that 3D Systems is well positioned to deliver on the bright long-term future ahead.”