Acquirer: Stratasys Ltd. (Israel)
Acquired: Desktop Metal, Inc. (US)
Value: Over $500 million
Industry Tags: 3D Printing; Additive Manufacturing
“On May 25, 2023, Stratasys Ltd., an Israeli company (which is referred to as Stratasys), Tetris Sub Inc., a wholly-owned subsidiary of Stratasys (which is referred to as Merger Sub), and Desktop Metal, Inc., a Delaware corporation (which is referred to as Desktop Metal) entered into an Agreement and Plan of Merger (which, as it may be amended from time to time, is referred to as the Merger Agreement) that provides for Merger Sub to merge with and into Desktop Metal, which is referred to as the Merger, with Desktop Metal surviving the Merger as a direct wholly owned subsidiary of Stratasys.” (Stratasys Ltd. Form F-4/A, Aug. 23, 2023, SEC Filing.) “Desktop Metal, Inc. is pioneering a new generation of additive manufacturing technologies focused on Additive Manufacturing 2.0, the volume production of end-use parts.” (Id.) Desktop Metal shareholders will receive ordinary shares of Stratasys, which “[b]ased on the closing price of Stratasys ordinary shares of $14.88 on Nasdaq on May 24, 2023,” will result in Desktop Metal stockholders having “approximately 41% of the issued and outstanding shares of the combined company” post-closing. (See id.) “Stratasys and Desktop Metal submitted a notice filing to CFIUS on July 28, 2023, and intend to submit a notice filing to the U.S. Department of State pursuant to the ITAR, in accordance with the terms of the Merger Agreement.” (Id.)
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