Business
Stratasys Closes $120 Million Strategic Investment by Fortissimo Capital
Further bolsters strong balance sheet Positions company for future growth through strategic investments to further enhance industry leadership Appoints Yuval
About this update from Stratasys, Ltd.
[{"type":"text","content":"\nFurther bolsters strong balance sheet\n\nPositions company for future growth through strategic investments to further enhance industry leadership\n\nAppoints Yuval Cohen to Board of Directors\n\n EDEN PRAIRIE, Minn. & REHOVOT, Israel--(BUSINESS WIRE)--\nStratasys Ltd. (NASDAQ: SSYS) (“the Company”), a leader in polymer 3D printing solutions, today announced the closing of a $120 million strategic investment by Fortissimo Capital (“Fortissimo”), a leading Israeli private equity fund investing in technology and industrials. As part of the closing of the investment, Fortissimo has acquired approximately 14% of Stratasys’ issued and outstanding ordinary shares through a direct purchase of 11,650,485 newly issued ordinary shares at $10.30 per share. As a result of this transaction, Fortissimo now holds approximately 15.5% of Stratasys’ issued and outstanding ordinary shares.\n\nIn connection with the close of the investment, Yuval Cohen, Founding and Managing Partner of Fortissimo, has been appointed to the Stratasys Board of Directors, replacing Dr. Yoav Zeif who volunteered to step down from the board. Mr. Cohen brings more than 30 years of financial and leadership experience working closely with companies on achieving strategic goals through innovative approaches.\n\nDov Ofer, Chairman of the Board of Directors of Stratasys, stated: \"I would like to congratulate Yuval on joining the Board of Directors. His rich business experience will bring great value to the company as it continues its path as a global leader in the field of 3D printing.\"\n\nYuval Cohen added: \"Fortissimo made this significant investment in Stratasys out of recognition of its leadership, the tremendous growth potential inherent in its technology portfolio and its dedicated management team led by Yoav. I look forward to working with the company's outstanding Board of Directors and management to unlock value for customers, employees and shareholders.\"\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements by Stratasys’ existing or new Board members related to the Company’s prospects upon the closing of the strategic investment by Fortissimo Capital in the Company. Those forward-looking statements are based on current information t...