3D Printing Machine Training
Published

Stratasys Terminates Merger Agreement With Desktop Metal

Stratasys is now exploring strategic alternatives to maximize shareholder value, while its board of directors is adopting a limited extension of the shareholder rights plan.

Share

Stratasys’ most recent 3D printing technology, SAF enables quick means of mass production for end-use parts. Photo Credit: Additive Manufacturing

Stratasys’ most recent 3D printing technology, SAF enables quick means of mass production for end-use parts. Photo Credit: Additive Manufacturing

Stratasys, a provider of polymer 3D printing solutions, is terminating its merger agreement with Desktop Metal. It is now exploring strategic alternatives to maximize shareholder value, while its board of directors is adopting a limited extension of the shareholder rights plan.

This decision follows its announcement that, based on its preliminary count of votes cast at Stratasys’ Extraordinary General Meeting of Shareholders (EGM), the shareholders did not approve the terms of the previously announced merger agreement with Desktop Metal which was dated May 25, 2023. Accordingly, Stratasys has terminated the merger agreement. The final, certified voting results for the Stratasys EGM will be provided in a Form 6-K to be furnished to the U.S. Securities and Exchange Commission, which Stratasys expects to occur within four business days.

The company says the comprehensive process to maximize shareholder value will begin immediately. Potential strategic alternatives to be explored or evaluated may include but are not limited to a strategic transaction, potential merger, business combination or sale.

“We have decided to undertake a comprehensive and thorough review of all available strategic alternatives,” says Dov Ofer, Stratasys’ board of directors chairman. “We are entering this review as the leader in the additive manufacturing space and will continue to execute our strategy, powered by innovation and profitable growth, which has led Stratasys to outpace the competition. Importantly, we remain focused on our mission to deliver value to customers and are committed to taking the appropriate actions to maximize value for all Stratasys shareholders.”

The company says there can be no assurance that its strategic review process will result in any transaction or other strategic outcome. Stratasys does not intend to disclose further developments on this strategic review process unless and until it determines that such disclosure is appropriate or necessary.

Additionally, the Stratasys board of directors has unanimously adopted an amendment to Stratasys’ shareholder Rights Plan pursuant to which the expiration date of the Rights Plan was extended for three months. The Rights Plan is not intended to prevent or interfere with any action with respect to Stratasys that the board determines to be in the best interests of the company and its shareholders. Instead, it will support the board’s ability to carry out its strategic review process and position the board to fulfill its fiduciary duties on behalf of all shareholders by ensuring the board is able to evaluate all options to maximize shareholder value, and preserve for all shareholders the long-term value of the company in the event of a takeover or acquisition of a controlling stake without the payment of a control premium for all Stratasys ordinary shares.

Additional details about the Rights Plan extension will be included in a separate Form 6-K to be furnished by Stratasys to the SEC.


Acquire
Airtech
World According To
SolidCAM Additive - Upgrade Your Manufacturing
The Cool Parts Show
AM Radio
North America’s Premier Molding and Moldmaking Event

Related Content

Tooling

Q&A With Align EVP: Why the Invisalign Manufacturer Acquired Cubicure, and the Future of Personalized Orthodontics

Align Technology produces nearly 1 million unique aligner parts per day. Its acquisition of technology supplier Cubicure in January supports demand for 3D printed tooling and direct printed orthodontic devices at mass scale.

Read More
Postprocessing

Possibilities From Electroplating 3D Printed Plastic Parts

Adding layers of nickel or copper to 3D printed polymer can impart desired properties such as electrical conductivity, EMI shielding, abrasion resistance and improved strength — approaching and even exceeding 3D printed metal, according to RePliForm.

Read More

FDA-Approved Spine Implant Made with PEEK: The Cool Parts Show #63

Curiteva now manufactures these cervical spine implants using an unusual 3D printing method: fused strand deposition. Learn how the process works and why it’s a good pairing with PEEK in this episode of The Cool Parts Show. 

Read More
Tooling

Copper, New Metal Printing Processes, Upgrades Based on Software and More from Formnext 2023: AM Radio #46

Formnext 2023 showed that additive manufacturing may be maturing, but it is certainly not stagnant. In this episode, we dive into observations around technology enhancements, new processes and materials, robots, sustainability and more trends from the show. 

Read More

Read Next

Polymer

3D Printed Polymer EOAT Increases Safety of Cobots

Contract manufacturer Anubis 3D applies polymer 3D printing processes to manufacture cobot tooling that is lightweight, smooth and safer for human interaction.

Read More
LFAM

Alquist 3D Looks Toward a Carbon-Sequestering Future with 3D Printed Infrastructure

The Colorado startup aims to reduce the carbon footprint of new buildings, homes and city infrastructure with robotic 3D printing and a specialized geopolymer material.

Read More

Crushable Lattices: The Lightweight Structures That Will Protect an Interplanetary Payload

NASA uses laser powder bed fusion plus chemical etching to create the lattice forms engineered to keep Mars rocks safe during a crash landing on Earth.

Read More
3D printing machine trainings