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Busy Week of Merger Activity for 3D Printing Companies

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3D Systems proposes to merge with Stratasys just days after Stratasys enters into a merger agreement with Desktop Metal, Inc.

Busy Week of Merger Activity for 3D Printing Companies includes Stratasys and 3d Systems

3D printing has been all over the dental industry news in recent years, what with the number of new printers and dental materials available allowing the technology to have a big impact on what all and how clinicians and dental labs can produce restorations, models, and appliances. This past week, however, there’s been plenty of news on mergers and possible acquisitions of some of the biggest players in 3D printing.

Just today, 3D Systems confirmed its submission of a proposal to combine with Stratasys in a cash and stock merger that would convert each Stratasys share into $7.50 in cash and 1.2507 newly issued shares of 3D Systems common stock.1 The combination would create an additive manufacturing industry leader, with Stratasys shareholders owning 40% of the combined company and receiving approximately $540 million in cash. 3D Systems states in a press release that the company delivered this proposal to the Stratasys Board on May 30, 2023.

3D Systems, which offers medical devices and bioprinting along with a variety of dental printers and a comprehensive line of NextDent 3D printer materials, has been in the dental industry since 1939, and first brought 3D printing to the manufacturing industry more than 35 years ago.

The company’s range of dental materials, advanced print technology and compatibility with leading dental software is designed to provide efficient dental workflows to enable dental labs and clinics to produce trays, models (orthodontic/prosthodontic), surgical guides, dentures, orthodontic splints, crowns and bridges with enhanced speed, precision, efficiency, and lower cost.

Stratasys, meanwhile, announced this week it had entered into a merger agreement with Desktop Metal, Inc., under which Stratasys and Desktop Metal will combine in an all-stock transaction. The transaction, which is expected to be completed in the fourth quarter of 2023, is subject to customary closing conditions, including the approval of Stratasys’ shareholders and Desktop Metal’s stockholders and the receipt of certain governmental and regulatory approvals.

In a press release issued yesterday, the company states that the Stratasys Board of Directors will carefully review the 3D Systems proposal, in accordance with its fiduciary duties, and its obligations under Stratasys’ merger agreement with Desktop Metal, in consultation with its independent financial and legal advisors. The Stratasys Board has not made any determination as to the 3D Systems proposal within the framework contemplated by the Desktop Metal merger agreement, which remains in effect, nor changed its unanimous approval, recommendation, and declaration of advisability of the agreed transaction with Desktop Metal.

Stratasys shareholders do not need to take any action currently with respect to the 3D Systems proposal, the company says.

Stratasys has played a key role in a 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, the company’s solutions can deliver competitive advantages in a variety of industries, including dental.

Among the company’s popular dental offerings are the PolyJet materials and the Stratasys Origin One Dental manufacturing-grade 3D printer designed to provide an industrial production solution powered by cutting edge P3 technology.

“The combination of 3D Systems and Stratasys is simply the best outcome for the shareholders of both companies,” 3D Systems’ President and CEO, Dr. Jeffrey Graves says. “We feel strongly that now is the time for all parties to recognize the overwhelming logic of our 2 businesses coming together. We are in a unique position to move with confidence and speed and we encourage the Stratasys Board of Directors to engage with our proposal and make this combination a reality for the benefit of the shareholders, employees and customers of both companies.”

3D Systems’ NextDent™ 5100 printer is just one of the company’s dental offerings that have helped it play a leading role in the industry’s shift to 3D printing solutions. Powered by Figure 4® technology, the NextDent™ 5100 facilitates high-speed 3D printing for production of dental appliances and sacrificial castings. This solution features a value proposition that combines best-in-class speed and performance at a price point that is accessible to virtually all labs and clinics, according to the manufacturer.

1. Assumes 135.3m and 72.1m fully diluted shares outstanding for 3D Systems and Stratasys, respectively.

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