3D Systems to buy $135 million of 2026 convertibles at discount

By Wendy Van Sickle

Columbus, Ohio, Dec. 6 – 3D Systems Corp. entered into separate, privately negotiated repurchase agreements with some holders of its 0% convertible senior notes due November 2026 to repurchase $135 million of the convertibles at a 26% discount to par, according to a news release.

The repurchase will be paid with cash from the company’s balance sheet and is expected to close on Dec. 13, after which about $325 million of the original $460 million principal amount of notes will remain outstanding.

“Opportunistically executing this transaction reduces our debt by nearly 30% and reinforces the strength of our balance sheet. Our current cash reserves remain some of the strongest in the industry and, coupled with our intense focus on cost optimization to drive sustainable profitability and enhanced cash generation, we believe 3D Systems is well positioned to deliver on the bright long-term future we see ahead,” 3D Systems president and chief executive officer Jeffrey Graves said in the release.

3D Systems is a Rock Hill, S.C.-based 3D printer and scanner manufacturer.

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