The 3D printer maker priced the 5.95 million offering of common stock at $53.25 a share for estimates gross proceeds of about $137 million. 3D Systems granted Canaccord Genuity, the sole underwriter of the offering, a 30-day option to buy up to an additional 892,500 shares.
3D Systems will use the net proceeds of the offering to fund future acquisitions, for working capital, and for general corporate purposes.
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TheStreet Ratings team rates 3D SYSTEMS CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate 3D SYSTEMS CORP (DDD) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, disappointing return on equity and premium valuation."
Highlights from the analysis by TheStreet Ratings Team goes as follows: