Last close As at 05/08/2026
USD1.56
▲ −0.02 (−1.27%)
Market capitalisation
USD332m
Research: TMT
Nano Dimension has extended its special tender offer for Stratasys, increasing its cash offer from $18.00 to $20.05 per share and extending the deadline to 24 July. It has reduced the number of shares it is seeking to acquire, from up to 27.926m to up to 25.266m, to achieve a holding of 46–51% including the 9.7m shares it already owns. On the same day, Stratasys received a revised bid from 3D Systems (offering a mix of cash and shares) and it is currently reviewing both revised bids.
Nano Dimension |
Revised tender offer for Stratasys |
Company acquisition |
Tech hardware and equipment |
28 June 2023 |
Share price performance
Business description
Analyst
Nano Dimension is a research client of Edison Investment Research Limited |
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Nano Dimension has extended its special tender offer for Stratasys, increasing its cash offer from $18.00 to $20.05 per share and extending the deadline to 24 July. It has reduced the number of shares it is seeking to acquire, from up to 27.926m to up to 25.266m, to achieve a holding of 46–51% including the 9.7m shares it already owns. On the same day, Stratasys received a revised bid from 3D Systems (offering a mix of cash and shares) and it is currently reviewing both revised bids.
Year |
Revenue |
EBITDA |
PBT* |
PAT* |
DPS |
P/E |
12/19 |
7.1 |
(11.7) |
(7.9) |
(7.9) |
0.00 |
N/A |
12/20 |
3.4 |
(12.6) |
(15.0) |
(15.0) |
0.00 |
N/A |
12/21 |
10.5 |
(38.4) |
(44.5) |
(44.5) |
0.00 |
N/A |
12/22 |
43.6 |
(88.8) |
(96.4) |
(96.4) |
0.00 |
N/A |
Source: Company data. Note: *PBT and PAT are normalised, excluding amortisation of acquired intangibles, exceptionals and share-based payments.
On 25 May, Nano Dimension launched a tender offer for Stratasys (Nasdaq: SSYS) offering cash of $18.00 per share with the goal of acquiring 38.8–40.8% of outstanding shares. The tender offer period expired at 23:59 EDT on 26 June, by which time 4,874,887 shares had been tendered and a further 899,973 were tendered pursuant to notices of guaranteed delivery, equating to c 8.4% of outstanding shares.
On 27 June, the company announced that it had extended the tender offer in terms of timing and price offered, and slightly reduced the number of shares it is seeking to acquire. Nano Dimension is now offering cash of $20.05 per share and is seeking to acquire 31.9–36.9% of outstanding shares which, when combined with the 14.1% it already holds, would take its stake to 46–51%. The tender offer expires at 17:00 EDT on 24 July. At the revised price, the tender offer would cost $438–507m (including the already tendered shares at the new price). Also on 27 June, 3D Systems (NYSE: DDD) increased its offer for Stratasys to $7.50 in cash and 1.3223 shares, equating to a per share value of $20.76 at the current 3D Systems share price of $10.03. Stratasys previously recommended that shareholders reject both Nano Dimension’s and 3D Systems’s earlier bids in favour of its all-share merger with Desktop Metal (NYSE: DM); Stratasys has stated it will review both revised bids.
Nano Dimension gave a brief update on Q123 trading (revenue, $14.97m (+43% yoy, +24% q-o-q), gross profit $6.6m, gross margin 45%); on 10 April it provided a Q1 provisional revenue estimate of $14.6m. The company will publish full Q123 results on 29 June before market open.
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