The US company Desktop Metal will hold an extraordinary shareholders’ meeting on September 28, 2023. At this meeting, the shareholders are to vote on the planned merger with the 3D printing group Stratasys.
The extraordinary general meeting of Stratasys shareholders will also be held on the same day. Here, a decision will be made on the merger of the two companies. The merger agreement was announced on May 25. Subsequently, Nano Dimension and 3D Systems tried to get Stratasys to agree to an alternative merger – so far without success.
According to Desktop Metal and Stratasys, the companies’ now-planned merger is the most likely outcome. However, the final decision rests with shareholders. Preliminary voting results are still scheduled to be announced Sept. 28. Official notification to the Securities and Exchange Commission (SEC) is expected within four business days.
The transaction is targeted by both companies to close in the fourth quarter of 2023, but a specific date could not be given yet. Like Stratasys, Desktop Metal is recommending that its shareholders vote in favor of the merger at their respective shareholder meetings.
Desktop Metal CEO Ric Fulop said the merger combines Stratasys’ polymer strengths with Desktop Metal’s industrial capabilities in volume production. The combination could become the first large-scale industrial supplier in 3D printing, he said.
Together, the two companies aim to provide customers with complete solutions across the entire manufacturing cycle, he said. The merger is an important step in establishing additive manufacturing on a broad scale and leveraging its sustainability benefits, Fulop said. The outcome of the shareholder votes remains to be seen.
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