{"id":762404,"date":"2023-06-08T07:58:08","date_gmt":"2023-06-08T11:58:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/nano-dimension-highlights-advantages-of-its-18-00-cash-per-share-special-tender-offer-for-stratasys-vs-other-alternatives\/"},"modified":"2023-06-08T07:58:08","modified_gmt":"2023-06-08T11:58:08","slug":"nano-dimension-highlights-advantages-of-its-18-00-cash-per-share-special-tender-offer-for-stratasys-vs-other-alternatives","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nano-dimension-highlights-advantages-of-its-18-00-cash-per-share-special-tender-offer-for-stratasys-vs-other-alternatives\/","title":{"rendered":"Nano Dimension Highlights Advantages of Its $18.00 Cash Per Share Special Tender Offer for Stratasys vs. Other Alternatives"},"content":{"rendered":"
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\n Waltham, Mass., June 08, 2023 (GLOBE NEWSWIRE) — <\/strong>Nano Dimension Ltd. (Nasdaq: NNDM) (\u201cNano Dimension\u201d, \u201cNano\u201d or the \u201cCompany\u201d), a leading supplier of Additively Manufactured Electronics (\u201cAME\u201d) and multi-dimensional polymer, metal & ceramic Additive Manufacturing (\u201cAM\u201d) 3D printers, today provided Stratasys shareholders with additional informational resources illustrating Nano Dimension\u2019s views of the relative advantages of its special tender offer for shareholders of Stratasys Ltd. (Nasdaq: SSYS) (\u201cStratasys\u201d) over Stratasys\u2019 merger with Desktop Metal Inc. (NYSE: DM) (\u201cDesktop Metal\u201d) and the unsolicited proposal from 3D Systems Corp. (NYSE: DDD) (\u201c3D Systems\u201d), including an investor presentation and a website, www.StratasysValueNow.com<\/a>, dedicated to the tender offer.<\/p>\n

On May 25, 2023, Nano Dimension commenced a Special Tender Offer to purchase between 38.8% and 40.8% of the outstanding ordinary shares of Stratasys for $18.00 per share in cash. The successful completion of the special tender offer would increase Nano Dimension\u2019s beneficial ownership of Stratasys to between 53% and 55% of the outstanding ordinary shares of Stratasys, inclusive of the approximately 14.1% of Stratasys\u2019 outstanding ordinary shares that Nano Dimension currently owns.<\/p>\n

\u201cStratasys shareholders face a simple choice: certain all-cash value at a premium<\/u><\/strong> or two alternative transactions, each of which we believe present a high degree of uncertainty<\/u><\/strong>,\u201d said Yoav Stern, Nano Dimension\u2019s Chairman and CEO. \u201cWe are confident our $18.00 per share tender offer is the right path for Stratasys shareholders and delivers greater value than what Stratasys can create independently, or via a transaction with Desktop Metal or 3D Systems. Two lemons don\u2019t automatically create lemonade, just by squeezing them together.\u201d<\/p>\n

Mr. Stern continued, \u201cWe remain committed to completing the special tender offer, to driving much needed improvement in leadership and performance at Stratasys and to creating a path to establishing a preeminent leader in the rapidly growing AM market. We intend to do so by focusing on gross margins, EBITDA and earnings-per-share profitability to create value for Stratasys\u2019 shareholders, in contrast to current management\u2019s empty promises of becoming \u201ca billion-dollar company\u201d every two to three years, only to deliver further cash burn and value destruction.<\/p>\n

\u201cAs just one example, the current and first-time CEO of Stratasys sold MakerBot in September 2022 for no proceeds (it actually required further funding to separate it). MakerBot, which Stratasys acquired in 2013, generated $15.7 million in revenue in 2012, was acquired under the fraught leadership of a former CEO and current Board member of Stratasys, and cost Stratasys and its shareholders over $400 million. Our tender offer is an opportunity to change that trajectory as we catalyze Stratasys to realize its full potential.\u201d<\/p>\n

Mr. Stern concluded, \u201cWith a successful outcome of the tender, we will continue to execute on our strategic plan to drive value creation for our shareholders and other stakeholders, both in Nano and in Stratasys, and the profitability of both will benefit all<\/u><\/strong>. Our management will be compensated based on the performance of Stratasys\u2019 operations, no less than Nano\u2019s, as Stratasys will be our main business asset.\u201d<\/p>\n

The presentation released today illustrates Nano Dimension\u2019s views of the benefits of its all-cash special tender offer to Stratasys shareholders and the potential downside of the pending Desktop Metal merger and unsolicited offer from the cash-strapped 3D Systems \u2013 two transactions comprised of volatile shares and insignificant cash components from cash-strapped companies<\/u><\/strong>. The presentation is summarized below:<\/p>\n