Nano Dimension in bid to acquire Stratasys

March 13, 2023

Nano Dimension Ltd, Waltham, Massachusetts, USA, the largest shareholder of Stratasys Ltd, headquartered in Eden Prairie, Minnesota, USA, and Rehovot, Israel, has announced a formal offer to acquire the remaining shares of the company for approximately $1.1 billion in cash. Nano Dimension currently owns 14.5% of Stratasys’ outstanding shares (13.7% on a fully diluted basis) and is looking to purchase the remaining shares for $18 each.

The offer price is reported to reflect a premium of 36% to the closing trading price as of March 1, 2023, and a 31% premium to the 60-day volume-weighted average price (VWAP).

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“We have great respect for Stratasys’ business, including Chief Executive Officer, Dr Yoav Zeif, who we believe is the architect of Stratasys’ recent positive momentum. Together, Nano Dimension and Stratasys can offer an increasingly exciting set of solutions for customers while becoming better positioned to compete in the AME and AM industries,” stated Yoav Stern, Chairman and Chief Executive Officer of Nano Dimension.

“We believe this is an exceptional opportunity for all stakeholders – shareholders, customers, management, employees, and business partners – of both companies. In recent years the AM market has grown in size and accelerated remarkable technological advancement, and it is on the cusp of its next phase of development and growth,” continued Stern.

The execution of a definitive merger agreement between Nano Dimension and Stratasys would be subject to due diligence and approval by each company’s Board of Directors and completion of the transaction would be subject to customary closing conditions, including receipt of required regulatory approvals and approval of Stratasys’ shareholders.

In addition to its additively manufactured electronics and micro AM business, Nano Dimension moved into metal and ceramic Additive Manufacturing with the acquisition of Formatec Holding B.V., in July 2022. Stratasys would bring an established range of polymer-based Additive Manufacturing solutions, along with a large customer base, to Nano Dimension.

“Bringing Stratasys and Nano Dimension together is about positioning both companies to succeed as a combined company and lead the industry into that next phase. With Nano Dimension’s strong culture of innovation and track record of successful merger integration, we expect to unlock significant value for all stakeholders. We look forward to continuing our discussions with Stratasys to reach a mutually acceptable transaction,” concluded Stern.

www.nano-di.com

www.stratasys.com

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