Nano Dimension increases special tender offer for Stratasys to $20.05 per share

Nano Dimension (NNDM) announced it has increased the offer price of its special tender offer from $18.00 to $20.05 per share in cash, less any required withholding taxes and without interest, extended the offer period and changed the percentage of Stratasys shares being sought in the Offer from between 38.8% and 40.8% to between 31.9% and 36.9% of the outstanding ordinary shares of Stratasys Ltd. (SYSS). The increased price represents a premium to all relevant Stratasys historical trading levels, including a 54.4% premium to the unaffected 60-day VWAP as of March 3rd, 2023. Nano’s special tender offer remains the only alternative available to Stratasys shareholders that provides certain, near-term cash at a compelling premium and provides the quickest path for Stratasys shareholders to realize premium value. The offer period has been extended until 5:00 p.m. New York Time on July 24th, 2023 to provide shareholders with the opportunity to evaluate the increased Offer and tender shares, as well as to facilitate the ongoing review by the Committee on Foreign Investment in the United States, which has been delayed, due to Stratasys’ lack of responsiveness in providing requisite information, and to allow for the completion of the regulatory review process under the Hart-Scott-Rodino Act. The offer period was previously scheduled to expire at 11:59 p.m. New York Time on Monday, June 26th, 2023. The successful completion of the special tender offer would increase Nano Dimension’s beneficial ownership of Stratasys to between 46% and 51% of the outstanding ordinary shares of Stratasys, inclusive of the approximately 14.1% of Stratasys’ outstanding ordinary shares that Nano Dimension currently owns.