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EDEN PRAIRIE, Minn. & REHOVOT, Israel - Stratasys Ltd. (NASDAQ: SSYS), a prominent player in polymer 3D printing solutions, has successfully closed a $120 million investment deal with Fortissimo Capital, a notable Israeli private equity fund. This strategic move sees Fortissimo acquiring a 14% stake in Stratasys through the purchase of 11,650,485 newly issued shares at $10.30 each, bringing its total ownership to approximately 15.5%.
The completion of this investment coincides with the appointment of Yuval Cohen, Founding and Managing Partner of Fortissimo, to the Stratasys Board of Directors. Cohen's appointment follows the voluntary departure of Dr. Yoav Zeif from the board. With over 30 years of experience in financial and business leadership, Cohen is expected to contribute significantly to Stratasys's strategic objectives. While the company reported losses in the last twelve months, InvestingPro analysts project a return to profitability this year, with impressive gross profit margins of 48.5%.
Dov Ofer, Chairman of Stratasys's Board, welcomed Cohen's addition to the board, citing his extensive business acumen as a valuable asset for the company's continued leadership in the 3D printing industry. Cohen expressed his enthusiasm for the investment and the company's potential, emphasizing the promising growth opportunities within Stratasys's technology portfolio and its management team.
This financial move is aimed at bolstering Stratasys's balance sheet and positioning it for future growth through strategic investments. The company, known for its innovative 3D printing solutions across various industries including aerospace, automotive, and healthcare, is focused on enhancing its global market leadership through smart and connected 3D printers, materials, software, and parts-on-demand services. Based on InvestingPro's Fair Value analysis, Stratasys appears undervalued at current levels, with 5 additional ProTips and comprehensive financial metrics available to subscribers through the Pro Research Report.
Stratasys has advised interested parties that this press release contains forward-looking statements that are subject to change. These statements involve risks and uncertainties that could affect the company's business, financial condition, and future prospects. The company has no obligation to update or revise any forward-looking statements publicly, except as required by law.
This strategic investment and board appointment are based on a press release statement and reflect Stratasys's ongoing commitment to expanding its market presence and delivering innovative solutions in the field of additive manufacturing.
In other recent news, Stratasys Ltd. has announced several significant developments in the 3D printing industry. The company introduced the Neo800+ stereolithography 3D printer, which offers up to 50% faster print speeds, enhancing production efficiency for industries requiring large and precise parts. Additionally, Stratasys unveiled the PolyJet ToughONE White material, designed for functional prototyping and end-use parts, aiming to reduce development time and costs. The company also launched AIS Antero 800NA and AIS Antero 840CN03 materials for the F900 3D printer, developed in collaboration with industry leaders like Boeing and Blue Origin, to meet the stringent demands of the aerospace and defense sectors.
Stratasys is set to showcase these innovations at the RAPID + TCT event in Detroit, where it will present a range of new products and materials designed to enhance manufacturing processes. Among the new introductions is the PolyJet ToughONE material, which provides enhanced impact resistance and flexibility. The company has also partnered with trinckle 3D to integrate fixturemate™ software into its GrabCAD Print™ Pro package, simplifying the creation of custom 3D-printed fixtures. Stratasys' participation in these events highlights its commitment to advancing additive manufacturing and supporting various industries, including aerospace, automotive, and healthcare. These recent developments reflect Stratasys's ongoing efforts to expand its capabilities and product offerings in the 3D printing sector.
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