3D Systems Issues New Common Stock; Watch Out for M&A
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3D Systems Stock Issue Hints at New M&A Activity
3D Systems Corporation (NYSE:DDD) today announced that, at its annual meeting held today, its stockholders approved an amendment to its Certificate of Incorporation to increase the authorized number of shares of Common Stock from 120,000,000 to 220,000,000.
“We are grateful to our stockholders for their support,” said Avi Reichental, President and Chief Executive Officer, 3D Systems. “This increase in our authorized shares restores our flexibility to use newly issued shares of our common stock for appropriate corporate purposes.”
What could those corporate purposes be? Likely more M&A. Last year, 3D Systems acquired a number of companies, including:
- Bespoke Innovations in May 2012 for 3D printed personalized prosthetics
- FreshFiber in May 2012 for 3D printed electronics accessories
- My Robot Nation in April 2012 for creative solutions to support 3D printing community Cubify for kids and adults
- Paramount Industries in April 2012 to advance aerospace and medical device 3D printing
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