3D Systems announces conditional call for 6% convertibles

By Angela McDaniels

Seattle, June 21 - 3D Systems Corp. plans to redeem all of its 6% convertible subordinated debentures at par at the close of business on July 23, according to a company news release.

The redemption is subject to the condition that at least $13.5 million principal amount of the outstanding debentures be converted into shares of the company's stock no later than 5 p.m. ET on July 20.

The company said that as of June 21, there are $14.8 million of the debentures outstanding that are convertible. The conversion price is $10.18 per share. 3D Systems shares closed at $23.95 (Nasdaq: TDSC) on Thursday.

The debentures were issued in private transactions in 2003 and are now callable.

3D Systems is based in Rock Hill, S.C., and provides three-dimensional modeling, prototyping and manufacturing services.

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