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3D Systems Borrows $150 Million

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Added by shubnigg in 3D printing
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Read more: http://3dprintingindustry.com/2014/10/13/3d-systems-borrows-150-million-3d-printing-purchasing-fun/

Video Transcript: Recently, 3D printing industry leader 3D Systems entered into a $150 million five-year, unsecured revolving credit facility with its group of lenders. With the new credit facility, the company, which has made a reputation for regularly acquiring smaller businesses, will have an initial aggregated $150 million with which to meet its financial goals. In addition to this first $150 million, the company may be able to augment the loan with an extra $75 million.

3DS CEO Avi Reichental, said of the Credit Agreement, that the credit facility strengthens their capital structure and provides them with greater financial flexibility to decisively execute their growth strategy.

As a result of the news, 3DS shares went up 3.83%, pushing the share price to $40.70. At the moment, there are 11- million outstanding shares and the company has a market cap of $4.4 billion. What they’ll use the cash-injection for has yet to be released, but you can have fun speculating!

It’s possible that they’re getting extra cash to defend against HP’s more focused entry into the 3D printing space. In fact, Reichental mentioned in a Fox News report that they had launched more than 24 new products in the last three months, and acquired the Xerox Wilsonville R&D team to begin to launch their capabilities forward. And, Reichental said, in the meantime HP keeps moving their date further out.

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