Stratasys 3D Printing
Israeli 3D printer manufacturer Stratasys, a publicly traded company, has taken what is commonly referred to as a “poison pill” – also known as a Shareholder Rights Plan – in order to prevent a takeover attempt by Nano Dimension. To do so, Stratasys filed a shareholder Rights Plan with the US Securities and Exchange Commission (SEC).
The move came after Nano Dimension, an Israeli company in the 3D printed electronics field, bought up a 12% share of Stratasys stock.
So, what does this mean? Well, if any shareholder reaches a 15% stake in Stratasys, then the company will grants rights to all other shareholders, not including the entity with the 15% stake, to purchase additional shares for each share that they already hold. This is called a poison pill because it dilutes the value of the shares already held but helps to stop a takeover. For that reason, it is usually done as a last resort.
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Stratasys explained in a statement, “The adoption of the Rights Plan is intended to protect the long-term interests of Stratasys and all Stratasys shareholders and enable them to realize the full potential value of their investment in the Company. The Rights Plan is designed to reduce the likelihood that any entity, person or group would gain control of, or significant influence over, Stratasys through the open-market accumulation of the Company’s shares without appropriately compensating all Stratasys shareholders for control.”
The company also stressed that the Rights Plan is not intended to prevent or interfere with any action with respect to Stratasys that the Board determines to be in the best interests of the Company and its shareholders.
With $521 million and $607 million of revenue in 2020 and 2021, respectively, Stratasys offers additive technology solutions for industries including Aerospace, Automotive, Consumer Products, Design, Education, and Healthcare. For over 30 years, a deep and ongoing focus on customers’ business requirements has fueled purposeful innovations that create new value across product lifecycle processes, from design prototypes to manufacturing tools and final production parts.
Nano Dimension’s machines serve cross-industry needs by depositing proprietary consumable conductive and dielectric materials simultaneously, while concurrently integrating in-situ capacitors, antennas, coils, transformers and electromechanical components, to function at an unprecedented performance.
Nano Dimension boasts that its tech bridges the gap between PCB and semiconductor Integrated Circuits. A revolution at the click of a button: From CAD to a functional high-performance AME device in hours, solely at the cost of the consumable materials.
