Watch stocks you care about
The single, easiest way to keep track of all the stocks that matter...
Your own personalized stock watchlist!
It's a 100% FREE Motley Fool service...
The previously announced common stock issue from 3D Systems (NYSE: 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."Â
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.