3D Systems to Undertake IPO

May 11
11:44 AM 2013

As previously announced, the common stock issue from 3D Systems has been proceed at US$40.00 per share through an underwritten initial public offer. There are 7.5 million shares offered for sale, with 6.18 million comes from the company while 1.32 million would be from existing shareholders, such as certain officers and directors with their affiliates.

There is additional option for the underwriters to purchase up to an additional 1.125 million shares within thirty days in case overallotments arise during the share sale period.

The proceeds from the sale is estimated at US$237 million and the company would be using them for future acquisitions, working capital and other general corporate purposes. There will be no funds received on the sale of the stocks owned by existing shareholders.

The sole bookrunner of the issue is Needham & Company with Cannacord Financial's Genuity unit and Piper Jaffray as Needham's co-lead managers. The share sales are expected to be completed on or before May 15.

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