Last close As at 05/08/2026
USD1.56
▲ −0.02 (−1.27%)
Market capitalisation
USD332m
Research: TMT
Nano Dimension has amended its special tender offer for Stratasys again, increasing its cash offer from $20.05 to $24.00 per share. It has also stated its willingness to explore a potential combination of Stratasys with 3D Systems. Nano Dimension’s resolution proposing to replace the majority of Stratasys’ board will be voted on at Stratasys’ AGM on 8 August.
Nano Dimension |
Tender offer for Stratasys revised up again |
Company acquisition |
Tech hardware and equipment |
17 July 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 amended its special tender offer for Stratasys again, increasing its cash offer from $20.05 to $24.00 per share. It has also stated its willingness to explore a potential combination of Stratasys with 3D Systems. Nano Dimension’s resolution proposing to replace the majority of Stratasys’ board will be voted on at Stratasys’ AGM on 8 August.
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, Nano Dimension extended the tender offer in terms of timing and price offered, and slightly reduced the number of shares it is seeking to acquire. The company offered 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% Nano Dimension already holds, would take its stake to 46–51%. The tender offer expires at 17:00 EDT on 24 July. Also on 27 June, 3D Systems (NYSE: DDD) increased its offer for Stratasys to $7.50 in cash and 1.3223 shares. Stratasys rejected both these bids in favour of its all-share merger with Desktop Metal (NYSE: DM). On 10 July, Nano Dimension increased its offer to $24 per share, which would cost $524–607m (including the already tendered shares at the new price). It also stated it would be willing to explore strategic industry consolidation, including a potential combination of Stratasys with 3D Systems. Nano Dimension has proposed replacing seven of Stratasys’ eight board members with its own choice of directors at the upcoming AGM. On 13 July, 3D Systems increased the equity element of its bid to 1.5444 shares, with its total bid worth $23.05 per share at the current 3D Systems share price of $10.07.
Nano Dimension also recently provided an update on Q223 revenue, which was $14.8m, +33.3% y-o-y and -1.1% q-o-q.
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