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3D Systems to Float New Stock Issue

By Eric Volkman – May 7, 2013 at 8:51PM

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The company hopes to reap around $250 million from the offering.

3D Systems (DDD 7.12%) 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. 

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends and owns shares of 3D Systems and has the following options: short Jan. 2014 $36 calls and short Jan. 2014 $20 puts. Try any of our Foolish newsletter services free for 30 days. 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.

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