Nano Dimension increases offer price for Stratasys shares in revised offer

July 11, 2023

Nano Dimension Ltd., Waltham, Massachusetts, USA, announced on June 10 that it had increased its offer to acquire Stratasys Ltd from $20.05 to $24.00 per share in cash. The increased price was said to represent a premium to all relevant Stratasys historical trading levels, including an 85% premium to the unaffected 60-day volume-weighted average price as of March 3rd, 2023.

The company stated that tendering shares to Nano would deliver 220% more cash to Stratasys shareholders in the near-term than any currently available alternative, including the cash from a proposed 3D Systems, Inc. deal, while preserving the ability to generate future value creation through strategic M&A opportunities.

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As the largest shareholder of Stratasys, Nano Dimension added that it intends to support a review of strategic alternatives to further enhance shareholder value, including through industry consolidation, possibly through a ****negotiated combination with 3D Systems, following the successful completion of the special tender offer.

This revised offer follows on from Stratasys’ rejection of Nano Dimension’s revised partial tender offer on June 30. It was announced on June 30, 2023, that the Stratasys Board unanimously rejected Nano’s previous partial tender offer to acquire between 31.9% and 36.9% ownership of Stratasys’ outstanding ordinary shares for $20.05 per share in cash. This offer was, itself, a revised offer after the Stratasys Board unanimously rejected Nano’s previous unsolicited partial tender offer to acquire between 38.8% and 40.8% ownership of Stratasys’ outstanding ordinary shares not already owned by Nano for $18.00 per share in cash on May 30, 2023.

www.stratasys.com

www.nano-di.com

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