Stratasys to Review Revised Unsolicited Partial Tender Offer from Nano Dimension

Stratasys Ltd. (Nasdaq: SSYS) (“Stratasys” or the “Company”), a leader in polymer 3D printing solutions, today confirmed that Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano”) has increased the offer price of its unsolicited partial tender offer to acquire Stratasys ordinary shares not already owned by Nano from $18.00 to $20.05 per share in cash (the “Revised Offer”). Nano has also reduced the percentage of outstanding Stratasys ordinary shares being sought in the Revised Offer from between 38.8% and 40.8% to between 31.9% and 36.9%, and extended the offer period until 5:00 p.m., New York time, on July 24, 2023, unless further extended or earlier terminated.

As previously announced on May 30, 2023, the Stratasys Board unanimously rejected Nano’s previous unsolicited partial tender offer to acquire between 38.8% and 40.8% ownership of Stratasys’ outstanding ordinary shares not already owned by Nano for $18.00 per share in cash. The Stratasys Board carefully reviewed and evaluated the partial tender offer, and concluded that it substantially undervalued the Company and was not in the best interests of Stratasys shareholders.

Stratasys notes that, according to Nano, only 8% of outstanding Stratasys shares were tendered into the offer as of 11:59 p.m., New York time, on June 26, 2023.

Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, the Stratasys Board of Directors will carefully review and evaluate the Revised Offer to determine the course of action that it believes is in the best interests of the Company and Stratasys shareholders. Stratasys shareholders are advised to take no action at this time pending the Stratasys Board’s review and evaluation of the Revised Offer.

Stratasys intends to advise shareholders of the Stratasys Board’s position regarding the Revised Offer within ten business days.

On May 25, 2023, Stratasys entered into a merger agreement with Desktop Metal, pursuant to which Desktop Metal, Inc. (NYSE: DM) (“Desktop Metal”) agreed to combine with Stratasys in an all-stock transaction. The Stratasys Board has not changed its unanimous approval, recommendation and declaration of advisability of the previously announced transaction with Desktop Metal.