Stratasys Prices Stock Issue at $93/Share
Sep 13th 2013 2:56PM
Updated Sep 13th 2013 2:58PM
Stratasys will offer its latest stock issue on the market at $93.00 per share, it announced today.
The company's previously announced offering will take the form of a 4.5 million-share underwritten public flotation. Additionally, the company's underwriters have been granted a 30-day purchase option for up to an additional 675,000 shares to cover over-allotments, if any.
Stratasys plans to use the estimated $402 million net proceeds of the issue for general corporate purposes, which the company said in an SEC filing include potential acquisitions, working capital, capital expenditures, and possibly earnout and performance payments linked to its purchase of MakerBot this past June.
JPMorgan Chase's J.P. Morgan is the sole book-running manager of the issue.
Stratasys has just more than 39 million shares outstanding, and its stock trades at $92.72 per share as of this writing.
The article Stratasys Prices Stock Issue at $93/Share originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Stratasys. The Motley Fool owns shares of JPMorgan Chase & Co. and Stratasys. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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