Soap opera continued… March 10 this year. Nano Dimension – the largest single shareholder of Stratasys, once again shocked the 3D printing industry by reporting its official willingness to take over the entire company for USD 1.1 billion. Although this idea seemed unrealistic from the very beginning, many people wondered if, after all, someone at Stratasys would not consider it a rather interesting “shortcut” to a solid retirement and would not be tempted to do so? Finally, last week – March 23 this year. the company dispelled all doubts by publishing an official statement in which it rejected the Nano Dimension offer. However, Nano does not give up and today announced that it is upping the stakes – this time to the amount of about $ 1.2 billion…
Nano Dimension made a new offer of $19.55 per share in cash, +$1.55 more than three weeks ago. The current market value of the offering is approximately $1.2 billion on a fully diluted basis. This offer represents a +37% premium over the closing price on March 3, 2023, a +40% premium over the Company’s 30-day VWAP and a +51% premium over the 60-day VWAP VWAP. As of July 2022, Nano Dimension is the largest shareholder of Stratasys, holding approximately 14.5% of the shares (13.7% when fully diluted).
It sounds interesting, but it is worth recalling that in 2013-2014 – i.e. the times of the great bubble on the stock exchange against companies from the 3D printing industry, the Stratasys share price exceeded $ 130 per share at its peak. It is possible that these times will never come back (no one knows yet?), but there is a high probability that it will rise to a much higher value than it is now anyway in the future. Today, Stratasys stock was trading at $15 a share, but in February 2021 it went as high as $51.75. Observing the share price, you can say that it is currently in a hole – but this situation has already happened several times during the company’s 20-year presence on the stock exchange.
Regardless of the above, things would certainly look different if it wasn’t for the fact that Nano Dimension is trying to take over. It is a relatively small company, with a large capital only thanks to its successful operations on the stock exchange. For several months, it has been tormented by internal conflicts with its own shareholders, who are seeking to remove the current management of the company from power. The chairman of the board himself – Yoav Stern, is a highly controversial figure… Apart from the accusations made against him by his own shareholders – for some time he has been devoting a lot of energy to recording videos on YouTube, where he publicly discusses his plans and strategies, as well as attacks opponents of his ideas – sometimes in a very direct way…
Anyway, from the perspective of a few years it can be said that Nano Dimension is a company known mainly for trying to take over Stratasys without success… Trying to describe its actual product offer is a bit of a challenge.
Source: www.nano-di.com
