Stratasys Prices Offering Of 4.5M Shares
Get Breaking News First
MINNEAPOLIS (AP) — Stratasys Ltd., which makes three-dimensional printers used to produce models and prototypes, said Friday that it priced its underwritten public offering of 4.5 million shares at $93 per share.
The price represents a 5 percent discount to the company’s Thursday closing stock price. Stratasys shares fell $5.29, or 5 percent, to $92.50 in premarket trading.
Stratasys also granted the offering’s underwriters a 30-day option to buy up to an additional 675,000 shares to cover possible overallotments.
Proceeds excluding the overallotment option are expected to total $402.2 million after the deduction of underwriting discounts and commissions and other estimated expenses, the company said.
Its shares dropped $5.09, or 5.2 percent, to $92.70 on premarket trading Friday.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)