Stratasys Ltd. (NASDAQ: SSYS) has filed a shelf registration statement with the U.S. Securities and Exchange Commission to allow it to issue sell an unspecified number of ordinary shares, warrants, and debt securities. At the same time the firm filed a Form 424 registering 6.93 million shares for sale at a maximum aggregate price of $768 million. The maximum per share price is given as $110.85.
About 3.92 million of the registered shares are were issued by Stratasys to and are now owned by shareholders of MakerBot, a maker of desktop 3D printers that Stratasys acquired in June for $400 million. The remaining 3.01 million shares included in this registration statement are intended to pay for potential further earnouts and payments to MakerBot stakeholders. Stratasys will receive no proceeds from the stakeholders’ sale of these shares.
Since The ExOne Co. (NASDAQ: XONE)) came public in February, shares of Stratasys have risen about 37% compared with a rise of about 47% in the shares of peer 3D Systems Inc. (NYSE: DDD). The big gainer has been ExOne, up about 160% since coming public.
Stratasys has already completed one significant merger, with 3D-printer maker Objet, and the MakerBot acquisition gives the firm a product that could attract consumers as well as commercial buyers. 3D Systems offers a personal 3D printer for around $1,300, significantly less than the $2,200 price tag on the MakerBot device. ExOne has no entry in the low-end space.
Shares of Stratasys are trading at $109.73, up 2.4%, late Tuesday afternoon. The 52-week range is $53.53 to $113.49.