Stratasys Shares Climb After It Dumps Nano Dimension's Takeover Offer At $18 Per Share

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On March 22, Polymer 3D printing solutions provider Stratasys, Ltd's SSYS board unanimously rejected Nano Dimension Ltd's NNDM 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.
  • Stratasys' board and management team are confident its standalone plan will create significantly greater value for its shareholders than the Nano proposal. 
  • Stratasys recently delivered its sixth consecutive quarter of profitability on an adjusted basis despite a challenging economic environment.
  • In March, Stratasys reported a fourth-quarter FY22 revenue decline of 4.6% year-over-year to $159.26 million, beating the consensus estimate of $157.58 million.
  • Adjusted EPS of 7 cents beat the consensus estimate of 3 cents
  • Stratasys shares have gained over 23% YTD, beating the broader index SPDR S&P 500 SPY, which gained 4.3%.

Price Action: SSYS shares traded higher by 3.36% at $15.08 at the last check Wednesday.

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