3D Systems falls after $92 mln convertible notes sale

3D Systems' DDD.N shares down 10.7% premarket to $1.67 after capital raise to pay down some debt

Rock Hill, South Carolina-based 3D printer maker says issued $92 mln 5.875% convertible notes due 2030 to a limited number of institutional buyers

Initial conversion price set at $2.24, 20% above stock's last close of $1.87

Co intends to use net proceeds, along with approx $78 mln of cash, to repurchase about $180 mln in principal amount of its outstanding 0% convertible notes due 2026

It will also use about $15 mln to repurchase 8 mln of its shares from notes purchasers

With ~136.4 mln shares outstanding, co has ~$255 mln market cap, per LSEG data

DDD shares on Tues fell 3.6%, putting them down 43% YTD

On May 13, DDD shares shed ~27% after co withdrew its 2025 outlook citing protracted weakness in customer spending amid tariff uncertainty