Exone end to end binder jetting service

3D Systems Secures $150 Million Credit Facility From PNC Bank

INTAMSYS industrial 3d printing

Share this Article

3ds1We are likely in the midst of the fastest growth we have seen yet within the 3D printing space, primarily within the manufacturing sector where companies are beefing up there investment into new machines capable of both prototyping as well as end-use production. The primary beneficiaries of all this are the giants within the space, which includes 3D Systems.

Although the stock price of one of the largest additive manufacturing companies in the world, 3D Systems, is down close to 60% from its highs at the start of this year, the company continues to finance its expansion, as a means to take advantage of the tremendous growth the market has seen, and is expected to continue to see in the coming years ahead. Back in May, the company announced that they would be initiating a secondary offering, to raise an additional $317 million for operations as well as acquisitions. Since this offering, they have acquired several major companies including Layerwise, Simbionix and Laser Reproductions.

Here we are, four and a half months later, and 3D Systems has just announced that they have agreed to terms on a $150 million unsecured revolving credit facility with PNC Bank. The agreement, for a 5 year credit facility, can be expanded at 3ds2the company’s option to as much as $225 million.

“Our enhanced capital structure will allow us to strategically execute on our focused long-term initiatives for the benefit of all of our constituents,” said Avi Reichental, 3D Systems’ President and Chief Executive Officer. “This credit facility strengthens our capital structure and provides us with greater financial flexibility to decisively execute our growth strategy.”

3ds3

Over the last year, 3D Systsems, along with their main competitor, Stratasys, has acquired numerous companies, in an almost tit-for-tat battle to expand into several vertical markets within the space. 3D Systems has focused primarily on medical modelling and printing companies as targets for their acquisitions.

Whether this new credit facility will be used to continue where they have left off or for other business operations, is yet to be seen. The exact terms of the loan have not yet been released. Further details are forthcoming by means of an 8K filing with the SEC.

Let’s hear your thoughts on this latest financing agreement, in the 3D Systems forum thread on 3DPB.com.

Share this Article


Recent News

$51M to Ramp up 6K’s Production of Batteries and 3D Printing Metals

Secret Audit Reveals US Military’s 3D Printing Tech Vulnerable to Cyberattacks



Categories

3D Design

3D Printed Art

3D Printed Food

3D Printed Guns


You May Also Like

3D Printing News Briefs, September 9, 2021: Events, Materials, & More

In today’s 3D Printing News Briefs, the first Formnext + PM South China finally opens this week. In materials news, a biomedical company introduced what it calls the first purified...

Featured

US Navy Issues $20M to Stratasys to Purchase Large-Format 3D Printers

The U.S. Navy has been steadily increasing its investment into practical 3D printer usage, as opposed to research. The latest comes in the form of a whopping $20 million contract...

3D Printing Webinar and Event Roundup: August 22, 2021

From food 3D printing and GE Additive’s Arcam EBM Spectra L 3D printer to 3D printing and CAD in a post-pandemic world and topology optimization, we’ve got a busy week...

Featured

The Largest 3D Printed Structure in North America: a Military Barracks in Texas

ICON’s latest 3D printed training barracks structure in Texas signals another positive step for the additive construction industry. Described by the company as the largest 3D printed structure in North...


Shop

View our broad assortment of in house and third party products.