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Leading Independent Proxy Advisory Firm ISS Recommends Desktop Metal Stockholders Vote “FOR” the Pending Merger with Stratasys
Desktop Metal urges stockholder to vote "FOR" the pending merger BOSTON--(BUSINESS WIRE)-- Desktop Metal, Inc. (NYSE: DM), a global leader in additive
About this update from Stratasys, Ltd.
[{"type":"text","content":"\nDesktop Metal urges stockholder to vote \"FOR\" the pending merger\n\n\n BOSTON--(BUSINESS WIRE)--\nDesktop Metal, Inc. (NYSE: DM), a global leader in additive manufacturing technologies for mass production, today announced that leading independent proxy advisory firm Institutional Shareholder Services (ISS) recommends that stockholders vote “FOR” the merger with Stratasys Ltd. (Nasdaq: SSYS) at the upcoming special meeting of Desktop Metal stockholders.\n\n\nIn its report dated September 20, 2023, ISS stated: “Given the opportunity to become part of a larger entity, the potential cost synergies of the proposed combination, and the share form of consideration, which enables DM shareholders to participate in the upside of the combined company, support for the transaction is warranted.” 1\n\n\nDesktop Metal issued the following statement:\n\n\nWe are pleased that ISS supports our board’s unanimous recommendation that shareholders vote “FOR” the merger with SSYS. As we first stated in May, the combination of Stratasys and Desktop Metal unites the polymer strengths of Stratasys with the complementary industrial mass production leadership of Desktop Metal and our breakthrough technologies, such as binder jetting. The combined company will create the first Additive Manufacturing company that will be at scale — targeted to generate more than $1.6 billion in revenue and more than $300 million of adjusted EBITDA in 2026 at base case, for a targeted pro forma margin of 20%. Together, we expect to be able to offer customers end-to-end solutions from designing, prototyping, and tooling to mass production and aftermarket operations across the entire manufacturing lifecycle.\n\n\nThe special meeting will be held virtually on September 28, 2023 at 9:00 a.m. Eastern Time. Desktop Metal stockholders of record at the close of business on July 31, 2023 will be entitled to vote at the special meeting.\n\n\nDesktop Metal stockholders who need assistance in completing the proxy card, need additional copies of the proxy materials or have questions regarding the upcoming special meeting may contact Desktop Metal’s proxy solicitor, D.F. King & Co., Inc., by phone at (877) 478-5045 or (212) 269-5550 or by email at [email protected].\n\n\nAbout Desktop Metal\n\n\nDesktop Metal (NYSE:DM) is driving Additive Manufacturing 2.0, a new era of on-demand, digital ...