Stratasys Inc (ISRAEL) - SSYS STOCK NEWS

Massivit 3D Printing Technologies (TASE: MSVT) announced the introduction of its innovative Massivit 10000-G printer at JEC World 2023 in Paris from April 25-27. This printer automates and speeds up composite manufacturing workflows, promising up to 80% time savings and 50% cost reduction in mold production. Utilizing the company's Cast In Motion technology, it enables the digital production of complex molds across various industries such as automotive and marine. The event also marks the company's 2023 corporate rebranding, aligning with strategic goals as it celebrates its 10-year anniversary. Live demonstrations and a showcase of applications will be available at Booth K58.

Stratasys Ltd. (NASDAQ: SSYS) has responded to a recent Israeli court ruling concerning Nano Dimension Ltd. (NASDAQ: NNDM) and its largest shareholder, Murchinson Ltd. The court's decision raises concerns about whether substantial decisions are being made by Nano's Board of Directors in the shareholders' best interest. The litigation centers on the validity of a March 2023 Special General Meeting, where 92% of votes supported removing four directors, including CEO Yoav Stern. Although the court allowed Murchinson to appoint two directors as observers, Nano plans to appeal, casting doubt on its management's authority. Stratasys argues that Nano's actions pose significant risks to its shareholders.

Stratasys Ltd. (NASDAQ: SSYS) announced the appointment of Gurvinder Kahlon as Vice President and General Manager of Stratasys Direct, Inc., effective immediately. Kahlon, with over 20 years of experience in digital manufacturing, will report to Rich Garrity, Chief Industrial Business Officer. His previous roles include Director of Product Management at ProtoLabs and Rudolph Technologies. Garrity highlighted Kahlon’s expertise in industrial manufacturing as crucial for enhancing Stratasys Direct's growth strategies. Kahlon expressed enthusiasm about leveraging Stratasys' technology to create value for manufacturing customers and explore growth opportunities, particularly with existing clients like Toyota Racing Development and Bell Helicopter.

Stratasys Ltd. has unanimously rejected an acquisition proposal from Nano Dimension Ltd. at $20.05 per share, asserting that the offer significantly undervalues the company and is not in the best interests of its shareholders. Stratasys' Board, after thorough evaluation and in consultation with financial and legal advisors, emphasized concerns over the legitimacy of Nano's management structure due to ongoing litigation with its largest shareholder, Murchinson Ltd., which recently saw the removal of Nano's CEO and directors. The Board believes that pursuing a takeover under these circumstances could expose Stratasys and its shareholders to undue risks and uncertainties.

Stratasys remains committed to enhancing shareholder value through its growth strategies and has appointed J.P. Morgan as its financial advisor.

Stratasys has successfully acquired the additive manufacturing materials business of Covestro AG, expanding its portfolio with approximately 60 materials and an extensive IP portfolio. The acquisition, which includes R&D and sales teams across Europe, the U.S., and Asia, is expected to be immediately accretive. This move enables Stratasys to enhance its offerings in key technology areas like stereolithography and DLP, addressing new manufacturing applications. CEO Yoav Zeif emphasized this acquisition solidifies their leadership in polymer additive manufacturing and fosters innovation through expanded materials.

Stratasys (SSYS) and CollPlant (CLGN) have announced a joint development and commercialization agreement to focus on bioprinting solutions for regenerative breast implants, targeting a $2.6 billion market opportunity. Utilizing Stratasys' P3 technology and CollPlant's rhCollagen-based bioinks, the partnership aims to produce implants designed to regenerate natural tissue with minimal immune response. The collaboration will also explore the future innovation of additional human tissues and organs. Both companies will cross-promote each other's products to enhance market penetration and capitalize on their respective expertise.

Stratasys Ltd. (Nasdaq: SSYS) announced it received a revised unsolicited non-binding proposal from Nano Dimension Ltd. (Nasdaq: NNDM) to acquire Stratasys for $20.05 per share in cash. The Stratasys Board will review the proposal while emphasizing that shareholders need not take action at this time. This follows previous rejections of Nano's offers of $19.55 and $18.00 per share due to significant undervaluation of the company. Stratasys is committed to acting in the best interests of its shareholders as it evaluates this new proposal.

Stratasys Ltd. (NASDAQ: SSYS) has unanimously rejected an unsolicited acquisition proposal from Nano Dimension Ltd. (NASDAQ: NNDM), which offered $19.55 per share. The Board of Stratasys concluded that the proposal significantly undervalues the company and is not in the best interests of its shareholders. The decision was influenced by misleading statements from Nano's CEO Yoav Stern and concerns about Nano's board's governance amid ongoing litigation with its largest shareholder. Stratasys remains confident that its standalone strategy will create greater shareholder value.

Stratasys Ltd. (NASDAQ: SSYS) announced that German service bureau Götz Maschinenbau has expanded its fleet of H350™ 3D printers to six units, responding to increased customer demand for high-quality end-use parts. This investment allows Götz to enhance its capabilities in additive manufacturing, specifically using SAF™ technology. Their new H350 systems will be installed over the next 18 months, solidifying Götz's position as a leading SAF service bureau in EMEA. The high-yield PA11 and PA12 materials used in these printers enable cost-effective production while maintaining part quality and consistency.