3D Systems drops on upsized $50 mln stock sale
BUZZ-3D Systems drops on upsized $50 mln stock sale ** 3D printer maker 3D Systems' DDD.N shares down 14.1% in premarket trading on Thurs to $3.10 after $50 mln follow-on priced
** Rock Hill, South Carolina-based co late Weds sold ~16.4 mln shares at $3.05
** Offering size boosted from $40 mln and priced at 15.5% discount to stock's last close
** DDD to use net offering proceeds to fund operations and growth, including for capex, working capital, and other general purposes, per the prospectus
** Needham and Craig-Hallum joint bookrunners
** DDD has ~146.9 mln shares outstanding
** Through Weds, DDD shares surged 92% this quarter
** 1 analyst rates the stock "buy", the other 3 rate "hold"; median PT $4, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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