Stratasys Prices Stock Issue at $93/Share

Stratasys Prices Stock Issue at $93/Share

Stratasys will offer its latest stock issue on the market at $93.00 per share, it announced today.

The company's previously announced offering will take the form of a 4.5 million-share underwritten public flotation. Additionally, the company's underwriters have been granted a 30-day purchase option for up to an additional 675,000 shares to cover over-allotments, if any.

Stratasys plans to use the estimated $402 million net proceeds of the issue for general corporate purposes, which the company said in an SEC filing include potential acquisitions, working capital, capital expenditures, and possibly earnout and performance payments linked to its purchase of MakerBot this past June.

JPMorgan Chase's J.P. Morgan is the sole book-running manager of the issue.

Stratasys has just more than 39 million shares outstanding, and its stock trades at $92.72 per share as of this writing.


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Originally published