3D Systems Prices 7.5M Share Offering at $40.00/Share
3D Systems (NYSE: DDD) announced today the pricing of an underwritten public offering of 7,500,000 shares of its common stock at a price of $40.00 per share. Of these shares, 6,184,349 shares are being sold by the company and 1,315,651 shares are being sold by certain selling stockholders, including certain officers and directors and their affiliates. The company and those selling stockholders have also granted the underwriters a 30-day option to acquire an additional 1,125,000 shares, on a pro rata basis, to cover over-allotments in connection with the offering. After deducting the underwriting discount and estimated offering expenses payable by the company, the company expects to receive net proceeds of approximately $237 million, assuming no exercise of the over-allotment option. The company will not receive any proceeds from the sale of shares by the selling stockholders. The offering is expected to close on May 15, 2013, subject to satisfaction of customary closing conditions.
Needham & Company, LLC is acting as the sole bookrunning manager of the offering. Canaccord Genuity Inc. and Piper Jaffray & Co. are acting as co-lead managers.
3D Systems intends to use the net proceeds from the offering to finance future acquisitions of