3D Systems tightens talk on $350 million five-year convertibles to fixed coupon of 0%, up 40%-45%

By Abigail W. Adams

Portland, Me., Nov. 10 – 3D Systems Corp. tightened talk on its offering of $350 million five-year convertible notes to a fixed coupon of 0% and an initial conversion premium of 40% to 45%, according to a market source.

Initial talk was for a coupon of 0% to 0.5% and an initial conversion premium of 35% to 40%, according to a market source.

The deal is slated to price after the market close on Thursday.

Goldman Sachs & Co. LLC and HSBC Securities (USA) Inc. are bookrunners for the Rule 144A offering, which carries a greenshoe of $52.5 million.

The notes are non-callable until Nov. 20, 2024 and then subject to a 130% hurdle.

They are putable upon a fundamental change.

The notes will be settled in cash up to their principal amount with any remaining amount to be settled in cash, shares or a combination of both at the company’s option.

Proceeds will be used for general corporate purposes, which may include potential acquisitions, investments or strategic transactions.

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

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