As reported by 3D Printing Industry, three related companies recently purchased shares of Stratasys, Neuberger Berman Group LLC and its affiliates, Berman Investment Advisers LLC and Rubric Capital Management LP. We only learn about this because each of them acquired more than 5% of the total shares, namely 5.61%, 5.43% and 6.15%, respectively. Due to the fact that Stratasys is listed on the American stock exchange NASDAQ, it is subject to local regulations and each entity whose value of shares in a given company exceeds 5% is obliged to report this fact to the financial supervision authority, in this case to the SEC, within 10 days from exceeding this level.
3D Printing Industry reports on yet another company that exceeded the ownership limit of 5% of Stratasys shares and this is the Israeli investment group Phoenix Holding, which acquired a total of 5.26% of the shares over the course of three transactions. This group also includes American billionaire Farhad Fred Ebrahini, who currently holds 5.13% of the shares, and Goldman Sachs with a share of 5.3%. Not much earlier, the Israeli 3D printing company Nano Dimension Ltd. acquired as much as 14% of shares in Stratasys.
The related companies argue that because they had independent boards of directors, they made decisions independently and there was no coordinated operation.
The situation around Stratasys is dynamic, because the previously mentioned Nano Dimension proposed to take over Stratasys for $1.1 billion in March 2023, which corresponded to $18 per share. The current valuation is $13 and was only slightly higher in March 2023. Despite this, the offer was rejected unanimously. Nano Dimension made another offer in December 2023, this time for $16.5 per share. Probably after Stratasys’ September declarations about analyzing various ways to “deliver value to shareholders”, including the sale of the company. There has been no response from Stratasys so far. This declaration took place after the talks about a potential merger with Desktop Metal ended. For now, we are waiting for developments.
Source: www.investors.stratasys.com via www.3dprintingindustry.com