Business
Stratasys Mails Letter to Shareholders
Recommends Shareholders Not Tender Shares into Nano Tender Offer and Urges Shareholders to Deliver a Notice of Objection Against the Partial Offer
About this update from Stratasys, Ltd.
[{"type":"text","content":"\nRecommends Shareholders Not Tender Shares into Nano Tender Offer and Urges Shareholders to Deliver a Notice of Objection Against the Partial Offer\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 the Company has mailed a letter to shareholders in connection with Nano Dimension Ltd.’s unsolicited partial tender offer to acquire ordinary shares of Stratasys for $18.00 per share in cash. The letter being mailed to shareholders can be found at www.NextGenerationAM.com/NanoObjection along with other materials related to Nano’s tender offer, which the Stratasys Board of Directors has unanimously determined to be inadequate and not in the best interests of Stratasys and its shareholders.\n\n\nFull text of the letter follows:\n\n\nDear Stratasys Shareholder,\n\n\nOn May 25, 2023, Nano Dimension Ltd. (“Nano”) submitted an opportunistic, coercive, highly conditional partial tender offer to acquire ordinary shares of Stratasys for $18.00 per share in cash.\n\n\nThe Stratasys Board of Directors, after consultation with its independent financial and legal advisors, unanimously determined that the partial tender offer substantially undervalues Stratasys and is NOT in the best interests of our shareholders.\n\n\nThe Board recommends Stratasys shareholders NOT tender shares into the Nano tender offer and urges Stratasys shareholders to deliver a notice of objection against the partial offer.\n\n\nUnder Israeli tender offer rules, Nano’s tender offer will fail if the shares covered by submitted Notices of Objection are greater than or equal to the number of shares tendered in the offer. Simply not tendering is not sufficient to express opposition to the tender offer and could result in non-tendering shareholders being left as minority shareholders in a company controlled by Nano. The subsequent four-day offering period after the tender offer closes allows shareholders to tender even if you have objected during the initial offer period. Therefore, we strongly urge shareholders to file their notice of objection in order to reduce the risk of becoming a minority shareholder.\n\n\nTo deliver a Notice of Objection, contact your broker and follow the instructions provided in the attached mailing and instruct them to de...