3D Systems Surprise, A Secondary Stock Offering

This offering is close to $335 million prior to discounts, price adjustments, and the like. 3D Systems has a $5.86 billion market cap, and the 5.95 million shares compares to an average daily volume of 4.857 million shares.

3D Systems said that it intends to use the net proceeds from this offering to finance future acquisitions, and for working capital, and general corporate purposes.

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Canaccord Genuity is acting as the underwriter for the offering. 3D Systems has also granted these underwriters an option for 30 days to purchase up to 892,500 additional shares of common stock.

3D Systems’ shares closed at $56.64 on Tuesday against a 52-week trading range of $41.05 to $97.28. The consensus analyst price target prior to the effect of this offering was $70.63.