Why Stratasys Shares Are Trading Higher Premarket Today

• On March 29, Nano Dimension Ltd (NASDAQ: NNDM) submitted a revised offer to acquire Stratasys, Ltd (NASDAQ: SSYS) at $19.55 per share in cash.

• Nano Dimension proposes to acquire the remaining shares of Stratasys for an aggregate of approximately $1.2 billion on a fully diluted basis.

• The new offer represents a premium of 37% to the closing trading price as of March 3.

• Nano Dimension has been the largest shareholder of Stratasys since July 2022 and currently owns approximately 14.5% of Stratasys’ outstanding shares (13.7% on a fully diluted basis).

• Nano Dimension’s new proposal represents a significant increase in value of $1.55 per share, or 9%, compared to its March 6, 2023, proposal.

• On March 22, Stratasys’ board unanimously rejected Nano Dimension’s takeover offer for $18.00 per share in cash.

• Following the review, the Stratasys board concluded that Nano’s proposal substantially undervalues the company and is not in the best interests of Stratasys and its shareholders.

• Price Action: SSYS shares traded higher by 11.40% at $15.72 premarket on the last check Wednesday.

Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article Why Stratasys Shares Are Trading Higher Premarket Today originally appeared on Benzinga.com

.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.