3D Systems Announces Additional Partial Repurchase of Convertible Senior Notes

• Repurchasing approximately $110 million of 0% coupon, convertible senior notes at approximately 22% discount to par value

• Reduces remaining balance of outstanding notes to approximately $214 million, over 50% reduction from initial issued principal balance of $460 million, due 2026
  
  
• Reinforces balance sheet strength and maintains strong cash position to support operational needs

ROCK HILL, S.C., March 05, 2024 (GLOBE NEWSWIRE) --  3D Systems (NYSE:DDD) (“the Company”) today announced that it has entered into separate, privately negotiated repurchase agreements with a limited number of holders of its 0% Convertible Senior Notes due 2026 (the "Notes") to repurchase $110 million aggregate principal amount of the Notes at approximately a 22% percent discount to par value. The debt repurchase will be paid in cash from the Company’s balance sheet.

The repurchases are expected to close on March 8, 2024, subject to the satisfaction of customary closing conditions. Following such closings, approximately $214 million principal amount of the Notes will remain outstanding, from an initial issued principal balance of $460 million. This remaining debt will continue to be held at 0% interest and will fully mature in November 2026.

President and CEO Dr. Jeffrey Graves stated, “Today’s announced additional repurchase of $110 million of our 2026 notes at a significant discount once again demonstrates our approach to proactive liability management and disciplined execution in the current environment. Over the last three months, we have opportunistically reduced our 2026 maturity by over 50% to reinforce the strength of our balance sheet, while we continue to maintain one of the strongest levels of cash reserves in the industry. Today’s transaction in combination with our targeted initiatives to drive enhanced gross margins and cost efficiencies reinforce our belief that 3D Systems is well positioned to deliver on the bright long-term future ahead.”

No Offer or Solicitation
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities described above, nor will there be any offer, solicitation, or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About 3D Systems

More than 35 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading additive manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction – empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials, and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems’ solutions address a variety of advanced applications in healthcare and industrial markets such as medical and dental, aerospace & defense, automotive, and durable goods. More information on the company is available at www.3DSystems.com.