3D Systems to Float New Stock Issue

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3D Systems (NYSE: DDD  ) is tapping the markets for some fresh capital. The company aims to raise roughly $250 million by selling its common stock in an underwritten public flotation. This is to be combined with an offering from "certain shareholders" that will release about 1.3 million additional shares onto the market. Also, the company expects to grant its underwriters a 30-day purchase option for up to an additional 15% of the offered shares.

3D Systems said it plans to use the proceeds of the issue for acquisitions, working capital, and for "general corporate purposes." It will receive no monies from the stock being sold by existing shareholders. 

Needham & Company is the sole book-running manager of the issue. Cannacord Financial's Genuity unit and Piper Jaffray are the co-lead managers. 

Read/Post Comments (5) | Recommend This Article (8)

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  • Report this Comment On May 07, 2013, at 9:27 PM, WorthyPresage wrote:

    I'm actually happy that they have done this. It increases their cash on hand to continue what they have been doing already; building shareholder value with r&d and important acquisitions. Judging from after hours trading, they are getting hammered but I have my suspicions that ignorant short sellers are jumping the shark. They may end up getting hammered themselves. Watch out shorties, bulls are on parade here.

  • Report this Comment On May 07, 2013, at 11:53 PM, renman2735 wrote:

    That may be. However the market is full of ignorant, panicky participants, so I expect that it will be ugly opening tomorrow as people dump shares to lock what profits they may have with this stock.

    Another slow climb up for the rest of us from whatever low it gets down to.

  • Report this Comment On May 08, 2013, at 1:35 AM, TangoXray7 wrote:

    What this really means is the principal holders of 3D are caught in a short squeeze and they don't like it, so they're going to sell enough to drive the price back down.

    Nice work Avi. You think anyone's ever going to trust you again?

  • Report this Comment On May 08, 2013, at 2:12 AM, TangoXray7 wrote:

    I suppose we can all just follow the big money. Tomorrow the stock will drop like a stone, the shorts will all cover, then we'll all wait for a stellar 2nd quarter earnings report. The shorts make money tomorrow, then make more money in 2 months. What a deal!

    Buy 3D when it bottoms. I can assure you everyone else will be doing the same thing.

  • Report this Comment On May 08, 2013, at 3:20 AM, TMFVolkman wrote:

    Ladies and gentlemen, be careful with this stock. It's a volatile one, and you don't want to get caught on the wrong end of a price swing. Having said that, I'd agree with the bulls here - it seems there is more potential upside than down, no matter the pounding the stock might take.

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8/29/2016 11:11 AM
DDD $16.02 Down -0.02 -0.12%
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