VALENCIA, Calif., May. 7, 2002 -
3D Systems Corp. (Nasdaq: TDSC) today announced the completion of a private placement of 1 million newly issued shares of its common stock, resulting in $12.5 million in net proceeds to the company.
“We are pleased to complete this offering of our shares. The proceeds from this private placement will be used primarily to reduce our outstanding bank debt and further strengthen our balance sheet,” stated E. James Selzer, senior vice president and chief financial officer. “This will allow us to further pursue the market opportunities currently under development, especially related to Advanced Digital Manufacturing.”
The 1,550,000 shares returned by Vantico Inc. to 3D Systems on April 22, 2002, were retired. As part of the private placement, 3D Systems repurchased 125,000 of the remaining shares held by Vantico, which were resold in addition to the 1 million newly issued shares. The net effect of the shares returned by Vantico and the stock issued in this private placement results in a reduction in the number of 3D Systems’ shares outstanding by 550,000, or 4%.
A significant portion of the shares issued through the private offering were placed with T. Rowe Price Associates. Goldsmith & Harris Inc. of New York acted as the placement agent for this transaction.
About 3D Systems
Founded in 1986, 3D Systems provides solid imaging products and solutions that help reduce the time and cost of designing products and facilitate direct and indirect manufacturing. Its systems utilize patented technologies that create physical objects from digital input.
3D Systems currently offers the ThermoJet® solid object printer, SLA® (stereolithography) systems, SLS® (selective laser sintering) systems, and Accura™ materials. Product pricing in the U.S. ranges from $49,995, for the ThermoJet printer, to $799,000 for the high-end SLA 7000 system. The company licenses the complementary 3D Keltool® process, a method for producing steel mold inserts, and currently is developing systems that use composite paste materials for direct manufacturing.
More information on the company is available at www.3dsystems.com, or by phoning 888/337-9786, extension 815, or 661/295-5600 internationally. An investor packet can be obtained by calling 800/757-1799.
Note to editors: Accura is a trademark; and ThermoJet, SLA, SLS, Keltool and the 3D logo are registered trademarks of 3D Systems Inc.
Certain statements in this news release may include forward-looking statements that express the expectation, prediction, belief or projection of 3D Systems. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance and achievement of 3D Systems to be materially and adversely different from any future results, performance or achievement expressed or implied by these forward-looking statements. Factors that may cause actual results to differ from the forward-looking statements contained in this release and that may affect the company’s prospects in general include, but are not limited to: world economic conditions; the ability to timely and cost-effectively identify and obtain or independently develop resins adequate for use with 3D Systems’ products; the funding of amounts of capital adequate to provide for the working capital needs of the company; actions of competitors and customers; reliance on single or limited suppliers and such other factors as are described in the company’s filings with the Securities and Exchange Commission, including annual report on Form 10-K for the year ended Dec. 31, 2001, and 3D Systems’ current reports on Form 8-K filed on March 21 and May 2, 2002.
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