Stratasys urges shareholders not to be ‘misled’ by Nano Dimension

Stratasys (SSYS) mailed a letter to shareholders in connection with Stratasys’ Annual General Meeting of Shareholders on August 8, 2023. The full text of the letter follows: “The facts are clear and your vote is important. Support the Stratasys Board and VOTE TODAY on the WHITE proxy card “FOR” the re-election of Stratasys’ directors. The Stratasys Board urges shareholders NOT to tender into Nano Dimension Ltd.’s (NNDM) coercive partial tender offer, to withdraw any shares previously tendered and to contact their broker and instruct them to file a Notice of Objection. Yoav Stern, Nano’s CEO, cannot be trusted and is not trusted by his own shareholders. Don’t be misled by Nano and its inconsistent campaign. Why You Should Vote FOR Stratasys’ Slate: Stratasys has a highly qualified, independent and diverse Board; Mr. Stern admits that Nano’s slate of nominees is not independent; Nano’s slate of nominees is unqualified and all but one are officers of Nano; Officers at Nano are not qualified to be Board members of Stratasys, a company that is more than 10x the size of Nano; Voting for Nano’s slate of nominees means Nano could take control of Stratasys without paying anything to Stratasys shareholders. Why You Should NOT Tender Your Shares: Nano’s partial tender offer means you may have as little as approximately 40% of your shares purchased, assuming full participation in the offer; If Nano’s partial tender offer is successful, you could potentially remain a minority shareholder in a Nano-controlled company; Nano’s partial tender offer implies that your Stratasys shares are valued at approximately $16 to $19 per share or less, assuming full participation in the offer; Nano has destroyed significant value and displayed disastrous governance.”