3D Systems Announces Significant Strengthening of Balance Sheet
3D Systems (NYSE:DDD) has announced significant balance sheet improvements through strategic financial transactions. The company has successfully retired $88 million of debt (41% of prior balance) at a discount to par value and refinanced with $92 million in new Convertible Senior Secured Notes due 2030. Additionally, DDD has repurchased 8 million shares (approximately 6% of outstanding common stock) to reduce dilution.
Following these transactions, DDD's balance sheet will include $35 million in existing notes due 2026, $92 million in new notes due 2030, and approximately $140 million in cash reserves. The new notes will bear interest at 5.875% per annum and are convertible at a 20% premium to the June 17, 2025 closing price.
3D Systems (NYSE:DDD) ha annunciato importanti miglioramenti nel bilancio grazie a operazioni finanziarie strategiche. L'azienda ha estinto 88 milioni di dollari di debito (il 41% del saldo precedente) a un valore inferiore al valore nominale e ha rifinanziato con 92 milioni di dollari in nuove Note Senior Convertibili Garantite con scadenza 2030. Inoltre, DDD ha riacquistato 8 milioni di azioni (circa il 6% del capitale sociale in circolazione) per ridurre la diluizione.
In seguito a queste operazioni, il bilancio di DDD includerà 35 milioni di dollari in note esistenti con scadenza 2026, 92 milioni di dollari in nuove note con scadenza 2030 e circa 140 milioni di dollari in riserve di liquidità. Le nuove note avranno un interesse annuo del 5,875% e saranno convertibili con un premio del 20% rispetto al prezzo di chiusura del 17 giugno 2025.
3D Systems (NYSE:DDD) ha anunciado mejoras significativas en su balance mediante transacciones financieras estratégicas. La compañía ha cancelado 88 millones de dólares de deuda (el 41% del saldo anterior) con un descuento respecto al valor nominal y ha refinanciado con 92 millones de dólares en nuevos Bonos Convertibles Senior Garantizados con vencimiento en 2030. Además, DDD ha recomprado 8 millones de acciones (aproximadamente el 6% del capital social en circulación) para reducir la dilución.
Tras estas operaciones, el balance de DDD incluirá 35 millones de dólares en bonos existentes con vencimiento en 2026, 92 millones de dólares en nuevos bonos con vencimiento en 2030 y aproximadamente 140 millones de dólares en reservas de efectivo. Los nuevos bonos devengarán un interés anual del 5,875% y serán convertibles con una prima del 20% sobre el precio de cierre del 17 de junio de 2025.
3D Systems (NYSE:DDD)는 전략적 금융 거래를 통해 재무 상태가 크게 개선되었음을 발표했습니다. 회사는 8,800만 달러의 부채(이전 잔액의 41%)를 액면가보다 낮은 가격에 상환했으며, 2030년 만기 신규 전환사채 9,200만 달러로 재융자했습니다. 또한 DDD는 희석을 줄이기 위해 800만 주(전체 보통주 약 6%)를 재매입했습니다.
이 거래 이후 DDD의 재무 상태표에는 2026년 만기 기존 채권 3,500만 달러, 2030년 만기 신규 채권 9,200만 달러, 그리고 약 1억 4,000만 달러의 현금 준비금이 포함될 예정입니다. 신규 채권은 연 5.875%의 이자를 지급하며, 2025년 6월 17일 종가 대비 20% 프리미엄으로 전환 가능합니다.
3D Systems (NYSE:DDD) a annoncé des améliorations significatives de son bilan grâce à des opérations financières stratégiques. La société a réussi à rembourser 88 millions de dollars de dette (41 % du solde précédent) à un prix inférieur à la valeur nominale et à refinancer avec 92 millions de dollars de nouvelles obligations convertibles senior garanties échéance 2030. De plus, DDD a rachaté 8 millions d'actions (environ 6 % du capital social en circulation) pour réduire la dilution.
Suite à ces opérations, le bilan de DDD comprendra 35 millions de dollars d'obligations existantes échéance 2026, 92 millions de dollars de nouvelles obligations échéance 2030 et environ 140 millions de dollars de réserves de trésorerie. Les nouvelles obligations porteront un intérêt annuel de 5,875 % et seront convertibles avec une prime de 20 % par rapport au cours de clôture du 17 juin 2025.
3D Systems (NYSE:DDD) hat bedeutende Verbesserungen der Bilanz durch strategische Finanztransaktionen bekanntgegeben. Das Unternehmen hat erfolgreich 88 Millionen US-Dollar Schulden (41 % des vorherigen Saldos) unter dem Nennwert zurückgezahlt und mit 92 Millionen US-Dollar neuen wandelbaren vorrangigen gesicherten Schuldverschreibungen mit Fälligkeit 2030 refinanziert. Zusätzlich hat DDD 8 Millionen Aktien zurückgekauft (ca. 6 % der ausstehenden Stammaktien), um die Verwässerung zu verringern.
Nach diesen Transaktionen wird die Bilanz von DDD 35 Millionen US-Dollar bestehende Schuldverschreibungen mit Fälligkeit 2026, 92 Millionen US-Dollar neue Schuldverschreibungen mit Fälligkeit 2030 und etwa 140 Millionen US-Dollar an Barreserven enthalten. Die neuen Schuldverschreibungen tragen einen Zinssatz von 5,875 % pro Jahr und sind zu einem Aufpreis von 20 % auf den Schlusskurs vom 17. Juni 2025 wandelbar.
- Retirement of $88 million in debt (41% of prior balance) at a favorable 94.6% of par value
- Extension of debt maturity to 2030 through refinancing
- Strategic repurchase of 8 million shares (6% of outstanding stock) reduces dilution
- Maintenance of strong cash position with $140 million in reserves
- Expected recognition of $10 million gain in Q2 financial statements
- Total debt reduction of 72% since 2021 through opportunistic transactions
- New notes carry 5.875% interest rate compared to 0% on existing notes
- Potential future dilution from convertible notes at 20% premium to current stock price
Insights
3D Systems significantly strengthens financial position by reducing debt 41%, extending maturities, and repurchasing 6% of outstanding shares.
3D Systems has executed a sophisticated balance sheet restructuring that materially improves its financial position through three coordinated transactions. The company has permanently retired
This transaction creates multiple financial benefits:
- Immediate deleveraging of the balance sheet by
$88 million - Maturity extension from 2026 to 2030, reducing near-term refinancing pressure
- Recognition of approximately
$10 million in accounting gains in Q2 from the discounted debt repurchase - Simultaneous repurchase of 8 million shares (
6% of outstanding) to offset potential dilution from the convertible notes
Particularly impressive is that 3D Systems maintains a strong liquidity position with
The transaction represents thoughtful financial engineering that balances multiple objectives: debt reduction, maturity extension, dilution management, and liquidity preservation. While the new notes carry a
This refinancing continues 3D Systems' disciplined approach to balance sheet management, with management noting they've reduced total debt by over
- Transactions permanently retire approximately
$88 million of debt,41% of prior balance, at a meaningful discount to par - Refinancing extends maturity with issuance of
$92 million Convertible Senior Secured Notes due 2030 - Repurchase of 8 million shares, representing approximately
6% of the Company’s outstanding common stock, in connection with the transaction reduces dilution for equity holders - Strong remaining cash reserves support completion of restructuring efforts while maintaining continuity in key growth initiatives
ROCK HILL, S.C., June 24, 2025 (GLOBE NEWSWIRE) -- Today, 3D Systems (NYSE: DDD) announced the closing of a series of strategic transactions to retire/refinance its outstanding 2026 convertible notes and repurchase shares of its common stock. The Company completed separate, privately negotiated agreements with a limited number of qualified institutional buyers to:
- Repurchase approximately
$180 million in aggregate principal amount of its outstanding0% Convertible Senior Notes due November 15, 2026 (the “Existing Notes”) at a price of94.6% of par, and - Issue
$92 million aggregate principal amount of new5.875% Convertible Senior Secured Notes due 2030 (the “New Notes”).
In connection with these transactions, the Company has repurchased approximately 8 million shares of its common stock concurrently with the closing of the New Notes issuance. The repurchase represents approximately
Following closing of these transactions, the Company’s balance sheet will reflect:
- Approximately
$35 million principal amount of the Existing Notes, due in November, 2026; - Approximately
$92 million principal amount of the New Notes due in 2030; and - Approximately
$140 million of cash to support debt obligations, restructuring activities and ongoing investment in key growth initiatives.
The New Notes will mature on June 15, 2030, unless earlier converted, redeemed, or repurchased, and will bear interest at a rate of
In connection with the repurchase of the Existing Notes at a discount to par, the Company expects to recognize a gain of approximately
Dr. Jeffrey Graves, president and CEO of 3D Systems said, “We are pleased to announce the successful completion of these refinancing transactions, which mark an important step in the continued strengthening of our capital structure. Aided by our strong cash position, the transactions immediately reduce our overall outstanding debt at an attractive discount, significantly extending our debt maturity profile, while managing potential dilution through a simultaneous share repurchase. These transactions follow those of prior periods that have reduced our total debt by over
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities (including the shares of common stock, if any, into which the notes are convertible in certain circumstances), nor shall there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under applicable securities laws.
The offer and sale of the notes and any shares of common stock issuable upon conversion of the notes have not been registered under the Securities Act of 1933, as amended, or qualified under any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration or qualification requirements.
Advisors
Cantor Fitzgerald & Co. acted as Financial Advisor and Sole Placement Agent of the New Notes to 3D Systems.
Goodwin Procter LLP served as legal counsel to Cantor Fitzgerald.
McGuireWoods LLP served as legal counsel to 3D Systems.
Forward-Looking Statements
Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as "believes," "belief," "expects," "may," "will," "estimates," "intends," "anticipates" or "plans" or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management’s beliefs, assumptions, and current expectations and may include comments as to the Company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the Company. The factors described under the headings "Forward-Looking Statements" and "Risk Factors" in the Company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or review any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise, except as required by law.
About 3D Systems
Nearly 40 years ago, Chuck Hull’s curiosity and desire to improve the way products were designed and manufactured gave birth to 3D printing, 3D Systems, and the additive manufacturing industry. Since then, that same spark continues to ignite the 3D Systems team as we work side-by-side with our customers to change the way industries innovate. As a full-service solutions partner, we deliver industry-leading 3D printing technologies, materials and software to high-value markets such as medical and dental; aerospace, space and defense; transportation and motorsports; AI infrastructure; and durable goods. Each application-specific solution is powered by the expertise and passion of our employees who endeavor to achieve our shared goal of Transforming Manufacturing for a Better Future. More information on the Company is available at www.3dsystems.com.
Investor Contact: investor.relations@3dsystems.com
Media Contact: press@3dsystems.com
FAQ
What debt restructuring did 3D Systems (DDD) announce in June 2025?
How many shares did 3D Systems (DDD) repurchase in the June 2025 transaction?
What is 3D Systems' (DDD) cash position after the June 2025 refinancing?
What are the terms of 3D Systems' (DDD) new 2030 convertible notes?
How much has 3D Systems (DDD) reduced its total debt since 2021?
