ExOne, Stratasys offer millions of shares for sale
3D printer manufacturer 3D Systems (DDD) said Tuesday it has acquired The Sugar Lab, a startup 3D printing micro-design firm focused on “printing customized, multi-dimensional, edible confections in real sugar.”
Terms of the deal were not undisclosed, but the purchase price is probably nowhere near as high as recent acquisitions including CRDM, Phenix Systems, TeamPlatform
“We see our technology quickly evolving into a variety of flavors and foods, powered by real food printers for professionals and consumers alike,” said Liz von Hasseln, co-founder of the Sugar Lab, based in Los Angeles.
Existing commercial applications for printable sugar include sculptural cakes for weddings and special events, and customizable confections for bake shops and restaurants.
The Sugar Lab already leverages 3D Systems’ Color Jet Printing (CJP) technology to print on a sugar bed using different flavored edible binders.
The Sugar Lab’s printing technique will be immediately integrated with 3D’s existing lineup of professional and consumer content-to-print platforms with “a variety of production-quality applications as well as the ability to 3D print indulgences at home,” 3D said.
In other 3D printing news, ExOne Co. on Monday priced an offering of 2.7 million shares at $62 a share, or a 4.8 percent discount to Monday’s close.
ExOne said it expects to sell 2.6 million in shares, 1.1 million from the company and 1.5 million from some of its shareholders. The company also expects to receive nearly $65 million in proceeds from the sale after it closes, most likely Friday.
ExOne already told investors it would use the proceeds for potential mergers and acquisitions. The offering is expected to close Sept. 13.
Shares closed Tuesday down nearly 4 percent to $62.58. The stock’s 52-week price range is $23.50-$78.80. The stock has risen 32 percent in the past three months.
In August, ExOne reported a narrower second-quarter loss as sales of its 3D-printing machines jumped.
Meanwhile, ExOne and 3D Systems competitor, Stratasys Ltd, said Monday it plans to sell four million shares in a public offering to raise money for potential mergers and acquisitions. Stratasys had about 38.6 million shares outstanding as of June 30.
Stratasys shares were off more than 1 percent to $103.80 at the closing bell Tuesday. The stock’s 52-week price range is $53.53-$113.49.