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.