{"id":786799,"date":"2023-09-28T12:09:56","date_gmt":"2023-09-28T16:09:56","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/stratasys-to-explore-strategic-alternatives-to-maximize-shareholder-value\/"},"modified":"2023-09-28T12:09:56","modified_gmt":"2023-09-28T16:09:56","slug":"stratasys-to-explore-strategic-alternatives-to-maximize-shareholder-value","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/stratasys-to-explore-strategic-alternatives-to-maximize-shareholder-value\/","title":{"rendered":"Stratasys to Explore Strategic Alternatives to Maximize Shareholder Value"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Stratasys to Explore Strategic Alternatives to Maximize Shareholder Value<\/b><\/p>\n<p class=\"bwalignc\"><i>Terminates Merger Agreement with Desktop Metal<\/i><\/p>\n<p class=\"bwalignc\"><i>Board of Directors Adopts Limited Extension of Shareholder Rights Plan<\/i><\/p>\n<p>MINNEAPOLIS &amp; REHOVOT, Israel&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nStratasys Ltd. (Nasdaq: SSYS) (\u201cStratasys\u201d or the \u201cCompany\u201d), a leader in polymer 3D printing solutions, today announced that its Board of Directors has initiated a process to explore strategic alternatives for the Company. This decision follows its announcement that, based on its preliminary count of the votes cast at the Company\u2019s Extraordinary General Meeting of Shareholders (the \u201cStratasys EGM\u201d), Stratasys shareholders did not approve the terms of the previously announced merger agreement with Desktop Metal, Inc. (NYSE: DM) (\u201cDesktop Metal\u201d) dated May 25, 2023 (the \u201cMerger Agreement\u201d). Accordingly, Stratasys has terminated the Merger Agreement. The final, certified voting results for the Stratasys EGM will be provided in a Form 6-K to be furnished to the U.S. Securities and Exchange Commission, which Stratasys expects to occur within four business days.<\/p>\n<p>\nThe comprehensive process to maximize shareholder value will begin immediately. Potential strategic alternatives to be explored or evaluated may include, but are not limited to, a strategic transaction, potential merger, business combination or sale.<\/p>\n<p>\n\u201cWe have decided to undertake a comprehensive and thorough review of all available strategic alternatives,\u201d said Dov Ofer, Chairman of Stratasys\u2019 Board of Directors. \u201cWe are entering this review as the leader in the additive manufacturing space and will continue to execute our strategy, powered by innovation and profitable growth, which has led Stratasys to outpace the competition. Importantly, we remain focused on our mission to deliver value to customers and are committed to taking the appropriate actions to maximize value for all Stratasys shareholders.\u201d<\/p>\n<p>\nThere can be no assurance that the Company\u2019s strategic review process will result in any transaction or other strategic outcome. Stratasys does not intend to disclose further developments on this strategic review process unless and until it determines that such disclosure is appropriate or necessary.<\/p>\n<p><b><span class=\"bwuline\">Shareholder Rights Plan Extension<\/span><\/b><\/p>\n<p>\nAdditionally, the Stratasys Board of Directors has unanimously adopted an amendment to Stratasys\u2019 shareholder rights plan (the &#8220;Rights Plan&#8221;), pursuant to which the expiration date of the Rights Plan was extended for three months.<\/p>\n<p>\nThe Rights Plan is not intended to prevent or interfere with any action with respect to Stratasys that the Board determines to be in the best interests of the Company and its shareholders. Instead, it will support the Board&#8217;s ability to carry out its strategic review process and position the Board to fulfill its fiduciary duties on behalf of all shareholders by ensuring the Board is able to evaluate all options to maximize shareholder value, and preserve for all shareholders the long-term value of the company in the event of a takeover or acquisition of a controlling stake without the payment of a control premium for all Stratasys ordinary shares.<\/p>\n<p>\nAdditional details about the Rights Plan extension will be included in a separate Form 6-K to be furnished by Stratasys to the SEC.<\/p>\n<p><b>Advisors<\/b><\/p>\n<p>\nJ.P. Morgan is acting as exclusive financial advisor to Stratasys, and Meitar Law Offices and Wachtell, Lipton, Rosen &amp; Katz are serving as legal counsel.<\/p>\n<p><b>About Stratasys<\/b><\/p>\n<p>\nStratasys<b \/>is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products, healthcare, fashion and education. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world\u2019s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.<\/p>\n<p>\nTo learn more about Stratasys, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.stratasys.com%2Fen%2F&amp;esheet=53565572&amp;newsitemid=20230928845739&amp;lan=en-US&amp;anchor=www.stratasys.com&amp;index=1&amp;md5=dd14037206c0da4f22e9e601d80533f9\">www.stratasys.com<\/a>, the Stratasys <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.stratasys.com%2Fen%2Fresources%2Fblog%2F&amp;esheet=53565572&amp;newsitemid=20230928845739&amp;lan=en-US&amp;anchor=blog&amp;index=2&amp;md5=8713c00dd50742a2fcde16202d329b3b\">blog<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2FStratasys%3Fref_src%3Dtwsrc%255Egoogle%257Ctwcamp%255Eserp%257Ctwgr%255Eauthor&amp;esheet=53565572&amp;newsitemid=20230928845739&amp;lan=en-US&amp;anchor=Twitter&amp;index=3&amp;md5=1d01db0f170e576a293c9df55b0e6cd0\">Twitter<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fstratasys%2F&amp;esheet=53565572&amp;newsitemid=20230928845739&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=4&amp;md5=84d94b90fd184a47129feaaa21216f7b\">LinkedIn<\/a>, or <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.facebook.com%2Fstratasys%2F&amp;esheet=53565572&amp;newsitemid=20230928845739&amp;lan=en-US&amp;anchor=Facebook&amp;index=5&amp;md5=1555e09e97a70577b62068586cf4f190\">Facebook<\/a>. Stratasys reserves the right to utilize any of the foregoing social media platforms, including the Company\u2019s websites, to share material, non-public information pursuant to the SEC\u2019s Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.<\/p>\n<p>\nStratasys is a registered trademark and the Stratasys signet is a trademark of Stratasys Ltd. and\/or its subsidiaries or affiliates. All other trademarks are the property of their respective owners.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis document contains forward-looking statements that involve risks, uncertainties and assumptions, including, without limitation, statements related to the process to explore and evaluate strategic alternatives and potential outcomes thereof. There can be no assurance of a successful outcome from these efforts, or of the form or timing of any such outcome. All statements in this communication, other than statements of historical fact, are forward-looking statements that may be identified by the use of the words \u201coutlook,\u201d \u201cguidance,\u201d \u201cexpects,\u201d \u201cbelieves,\u201d \u201canticipates,\u201d \u201cshould,\u201d \u201cestimates,\u201d and similar expressions. Such statements are based on management\u2019s beliefs and assumptions made based on information currently available to management. These forward-looking statements involve known and unknown risks and uncertainties, which may cause Stratasys\u2019 actual results and performance to be materially different from those expressed or implied in the forward-looking statements. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to Stratasys\u2019 periodic reports and other filings with the SEC, including the risk factors identified in Stratasys\u2019 Annual Reports on Form 20-F, and Stratasys\u2019 Reports of Foreign Private Issuer on Form 6-K that published its results for the quarter and six months ended June 30, 2023, which it furnished to the SEC on August 9, 2023. The forward-looking statements included in this communication are made only as of the date hereof. Stratasys undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances, except as required by law.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230928845739r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230928845739\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230928845739\/en\/<\/a><\/span><\/p>\n<p><b>Investor Relations<br \/>\n<\/b><br \/>Yonah Lloyd<br \/>\n<br \/>CCO \/ VP Investor Relations<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Yonah.Lloyd@stratasys.com\">Yonah.Lloyd@stratasys.com<\/a><\/p>\n<p>\nMorrow Sodali<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:SSYS@info.morrowsodali.com\">SSYS@info.morrowsodali.com<br \/>\n<\/a><br \/>(800) 662-5200<br \/>\n<br \/>(203) 658-9400<\/p>\n<p><b>U.S. Media<br \/>\n<\/b><br \/>Ed Trissel \/ Joseph Sala \/ Kara Brickman<br \/>\n<br \/>Joele Frank, Wilkinson Brimmer Katcher<br \/>\n<br \/>(212) 355-4449<\/p>\n<p><b>Israel Media<br \/>\n<\/b><br \/>Erik Snider<br \/>\n<br \/>Director, Global Public Relations<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Erik.Snider@stratasys.com\">Erik.Snider@stratasys.com<\/a><\/p>\n<p>\nYael Arnon<br \/>\n<br \/>Scherf Communications<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:yaela@scherfcom.com\">yaela@scherfcom.com<br \/>\n<\/a><br \/>+972527202703<\/p>\n<p><b>KEYWORDS:<\/b> United States North America Israel Middle East Minnesota<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Other Manufacturing Technology Chemicals\/Plastics Manufacturing Software Machinery Machine Tools, Metalworking &amp; Metallurgy Hardware Electronic Design Automation<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Stratasys to Explore Strategic Alternatives to Maximize Shareholder Value Terminates Merger Agreement with Desktop Metal Board of Directors Adopts Limited Extension of Shareholder Rights Plan MINNEAPOLIS &amp; REHOVOT, Israel&#8211;(BUSINESS WIRE)&#8211; Stratasys Ltd. (Nasdaq: SSYS) (\u201cStratasys\u201d or the \u201cCompany\u201d), a leader in polymer 3D printing solutions, today announced that its Board of Directors has initiated a process to explore strategic alternatives for the Company. This decision follows its announcement that, based on its preliminary count of the votes cast at the Company\u2019s Extraordinary General Meeting of Shareholders (the \u201cStratasys EGM\u201d), Stratasys shareholders did not approve the terms of the previously announced merger agreement with Desktop Metal, Inc. (NYSE: DM) (\u201cDesktop Metal\u201d) dated May 25, 2023 (the \u201cMerger Agreement\u201d). Accordingly, Stratasys has &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/stratasys-to-explore-strategic-alternatives-to-maximize-shareholder-value\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Stratasys to Explore Strategic Alternatives to Maximize Shareholder Value&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-786799","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Stratasys to Explore Strategic Alternatives to Maximize Shareholder Value - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/stratasys-to-explore-strategic-alternatives-to-maximize-shareholder-value\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stratasys to Explore Strategic Alternatives to Maximize Shareholder Value - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Stratasys to Explore Strategic Alternatives to Maximize Shareholder Value Terminates Merger Agreement with Desktop Metal Board of Directors Adopts Limited Extension of Shareholder Rights Plan MINNEAPOLIS &amp; REHOVOT, Israel&#8211;(BUSINESS WIRE)&#8211; Stratasys Ltd. (Nasdaq: SSYS) (\u201cStratasys\u201d or the \u201cCompany\u201d), a leader in polymer 3D printing solutions, today announced that its Board of Directors has initiated a process to explore strategic alternatives for the Company. This decision follows its announcement that, based on its preliminary count of the votes cast at the Company\u2019s Extraordinary General Meeting of Shareholders (the \u201cStratasys EGM\u201d), Stratasys shareholders did not approve the terms of the previously announced merger agreement with Desktop Metal, Inc. (NYSE: DM) (\u201cDesktop Metal\u201d) dated May 25, 2023 (the \u201cMerger Agreement\u201d). 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(Nasdaq: SSYS) (\u201cStratasys\u201d or the \u201cCompany\u201d), a leader in polymer 3D printing solutions, today announced that its Board of Directors has initiated a process to explore strategic alternatives for the Company. This decision follows its announcement that, based on its preliminary count of the votes cast at the Company\u2019s Extraordinary General Meeting of Shareholders (the \u201cStratasys EGM\u201d), Stratasys shareholders did not approve the terms of the previously announced merger agreement with Desktop Metal, Inc. (NYSE: DM) (\u201cDesktop Metal\u201d) dated May 25, 2023 (the \u201cMerger Agreement\u201d). Accordingly, Stratasys has &hellip; Continue reading \"Stratasys to Explore Strategic Alternatives to Maximize Shareholder Value\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/stratasys-to-explore-strategic-alternatives-to-maximize-shareholder-value\/","og_site_name":"Market Newsdesk","article_published_time":"2023-09-28T16:09:56+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230928845739r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/stratasys-to-explore-strategic-alternatives-to-maximize-shareholder-value\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/stratasys-to-explore-strategic-alternatives-to-maximize-shareholder-value\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Stratasys to Explore Strategic Alternatives to Maximize Shareholder Value","datePublished":"2023-09-28T16:09:56+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/stratasys-to-explore-strategic-alternatives-to-maximize-shareholder-value\/"},"wordCount":1050,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/stratasys-to-explore-strategic-alternatives-to-maximize-shareholder-value\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230928845739r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/stratasys-to-explore-strategic-alternatives-to-maximize-shareholder-value\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/stratasys-to-explore-strategic-alternatives-to-maximize-shareholder-value\/","name":"Stratasys to Explore Strategic Alternatives to Maximize Shareholder Value - 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