Business
Stratasys Board of Directors Unanimously Rejects Nano Dimension’s Revised Partial Tender Offer
Releases Investor Presentation Highlighting Nano’s Attempt to Destroy Significant Value and Growth Opportunities for ALL Stratasys Shareholders Urges
About this update from Stratasys, Ltd.
[{"type":"text","content":"\nReleases Investor Presentation Highlighting Nano’s Attempt to Destroy Significant Value and Growth Opportunities for ALL Stratasys Shareholders\n\n\nUrges Shareholders NOT to Tender into Nano’s Coercive Partial Tender Offer, to Withdraw Any Shares Previously Tendered AND to Contact Their Broker and Instruct Them to File a Notice of Objection\n\n\nUrges Shareholders to Vote ONLY on the WHITE Proxy Card “FOR” the Re-Election of the Stratasys Slate of Directors\n\n\n MINNEAPOLIS & REHOVOT, Israel--(BUSINESS WIRE)--\nStratasys Ltd. (Nasdaq: SSYS) (“Stratasys” or the “Company”), a leader in polymer 3D printing solutions, today announced that its Board of Directors (the “Board”), after consultation with its independent financial and legal advisors, unanimously determined that the revised partial tender offer announced by Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano”) on July 10, 2023 to acquire ordinary shares of Stratasys for $24.00 per share in cash is misleading, coercive, substantially undervalues the Company as a whole and is NOT in the best interests of all Stratasys shareholders. Accordingly, the Board unanimously recommends that shareholders reject the revised partial offer, deliver a Notice of Objection against the partial offer and do NOT tender their Stratasys shares in the partial offer.\n\n\nAdditional information is included in a new investor presentation that is available at www.investors.stratasys.com and www.NextGenerationAM.com. Highlights of the investor presentation include:\n\n\n\nNano’s partial tender means Stratasys shareholders who tender their shares may have as few as approximately 40% of their shares purchased, assuming full participation in the offer. If the partial tender offer is successful, additional shareholders are likely to tender their shares during the mandatory 4-day extension window, and shareholders may retain approximately 60% of their existing shares in a Nano-controlled Stratasys.\n\n\n\nThe partial tender offer implies a blended value of approximately $15 to $19 per share or less, assuming full participation in the offer, given that Stratasys being controlled by Nano is likely to lead to Stratasys shareholders’ remaining shares trading at a heavily discounted level, which could be approximately $9 to $15 per share or less.1\n\n\n\nNano has destroyed significant value and trades at negative fi...