- On March 29, Nano Dimension Ltd (NASDAQ:NNDM) submitted a revised offer to acquire Stratasys, Ltd (NASDAQ:SSYS) at $19.55 per share in cash.
- Nano Dimension proposes to acquire the remaining shares of Stratasys for an aggregate of approximately $1.2 billion on a fully diluted basis.
- The new offer represents a premium of 37% to the closing trading price as of March 3.
- Nano Dimension has been the largest shareholder of Stratasys since July 2022 and currently owns approximately 14.5% of Stratasys’ outstanding shares (13.7% on a fully diluted basis).
- Nano Dimension’s new proposal represents a significant increase in value of $1.55 per share, or 9%, compared to its March 6, 2023, proposal.
- On March 22, Stratasys’ board unanimously rejected Nano Dimension’s takeover offer for $18.00 per share in cash.
- Following the review, the Stratasys board concluded that Nano’s proposal substantially undervalues the company and is not in the best interests of Stratasys and its shareholders.
- Price Action: SSYS shares traded higher by 11.40% at $15.72 premarket on the last check Wednesday.
SHIB Burn: Here’s Everything You Should Know About Shiba Inu Token Burn
The term “token burn” refers to the act of permanently removing a coin or token from circulation. This is achieved by sending the coins or tokens to a specific address that can receive but cannot send crypto. It’s important to note that this differs from a “dead wallet,” which remains inactive for an extended period without any transactions.
