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Stratasys Mails Letter to Shareholders Highlighting Nano Dimension's Track Record of Value Destruction
Warns Shareholders Not to Be Fooled by Yoav Stern; Nano Continues to Make Misleading Claims Nano’s Campaign Risks Derailing Stratasys’ Future Growth
About this update from Stratasys, Ltd.
[{"type":"text","content":"\nWarns Shareholders Not to Be Fooled by Yoav Stern; Nano Continues to Make Misleading Claims\n\n\nNano’s Campaign Risks Derailing Stratasys’ Future Growth Opportunities and Threatens to Destroy Value for Stratasys Shareholders\n\n\nUrges Shareholders to Vote on the WHITE Proxy Card Today “FOR” the Re-Election of Each of Stratasys’ Director Nominees and “AGAINST” Each of Nano’s Unqualified Nominees\n\n\n MINNEAPOLIS & REHOVOT, Israel--(BUSINESS WIRE)--\nStratasys Ltd. (Nasdaq: SSYS) (“Stratasys” or the “Company”), a leader in polymer 3D printing solutions, today mailed a letter to shareholders in connection with Stratasys’ Annual General Meeting of Shareholders (the “Meeting”) that will take place on August 8, 2023.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230726265287/en/Image 1: Source: Company filings; Enterprise Value accounts for Nano’s investment in Stratasys as of Q3 2022\nThe full text of the letter follows:\n\n\nNano Continues to Make Misleading Claims; Don’t Be Fooled by Yoav Stern\n\n\n\n\nNano’s Misleading Claims\n\n\n\n\n\n\nThe Facts\n\n\n\n\n\n\n\n\nNano will pay Stratasys shareholders $25.00 per share in cash in the partial tender offer.\n\n\n\n\n\n\nDue to the mechanism of the partial tender offer, you will be able to sell only ~40% of your shares for $25.00, assuming full participation in the offer.\n\n\n\n\n \n\n\n\n\nStratasys shareholders who tender risk being left with the majority of their shares and becoming minority shareholders in a Nano-controlled company.\n\n\n\n\n\n\n\n\nThe partial tender offer value is certain and shareholders will receive their cash IMMEDIATELY after Nano closes its partial tender offer.\n\n\n\n\n\n\nEven Mr. Stern says that Stratasys shares not tendered could trade at $12 or $13 per share.1 If the remaining shares trade at a significantly lower price, the implied total value per share could be ~$16 to $19 or less.2 The timing of any potential closing of the partial tender offer could be months away due to the numerous conditions Nano has placed on its offer.\n\n\n\n\n\n\n\n\nIf Nano completes the partial tender offer and acquires at least 31.9% to 36.9% of Stratasys, Nano will purchase the rest of the Stratasys shares.\n\n\n\n\n\n\nWith the cash that Nano has3, they cannot pay for all of your Stratasys shares ...