Nano Dimension raises Stratasys cash buyout bid back above $20 a share

Nano Dimension Ltd. (NNDM) has jumped back into the ring in the battle to buy 3D printer maker Stratasys Ltd. (SSYS), as the company raised its per-share cash bid by 11.4% to $20.05. The revised bid represents a 23.5% premium to Stratasys stock's Monday closing price of $16.23. The follows a raised cash-and-stock bid by 3D Systems Corp. (DDD) earlier Tuesday, which valued Stratasys shares at $19.53 each. Back on June 13, Nano Dimension had recommitted to the $18-per-share bid to buy Stratasys originally submitted on March 22, after raising the bid to $20.05 a share in April. Nano Dimension said Tuesday that its bid period has been extended to 5:00 p.m. Eastern on July 24. Separately, Nano Dimension reiterated its first-quarter revenue outlook of $14.97 million. Nano Dimension shares were little changed in premarket trading, while Stratasys' stock climbed 10.0%.

-Tomi Kilgore

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06-27-23 0907ET

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