3D Systems Stock Offering Priced

By Eric Volkman – May 10, 2013 at 9:15PM

NYSE: DDD

3d Systems

Market Cap

$458M

Today's Change

(%)

Current Price

$3.43

Price as of April 26, 2024, 4:00 p.m. ET

The issue will set investors back to the tune of $40.00 per share.

The previously announced common stock issue from 3D Systems (DDD) now has a price tag. That offering will hit the market at $40.00 per share in an underwritten public flotation. Of the 7.5 million shares being sold, just over 6.18 million are being offered by the company, and 1.32 million will come from existing shareholders, including "certain officers and directors and their affiliates."

Additionally, the company's underwriters have been granted a 30-day purchase option for up to an additional 1.125 million shares to cover over-allotments.

3D Systems said it plans to use the issue's estimated net proceeds of $237 million 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. The offering is expected to close on May 15.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends 3D Systems. The Motley Fool owns shares of 3D Systems and has the following options: Short Jan 2014 $36 Calls on 3D Systems and Short Jan 2014 $20 Puts on 3D Systems. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.