3D Systems Converts 6% Debentures into Common Stock
 ROCK
HILL,
South Carolina, July 24, 2007 - 3D Systems Corporation (NASDAQ: TDSC), a
leading provider of 3-D Modeling, Rapid Prototyping and Manufacturing
solutions, announced today that all of its outstanding 6% Convertible
Subordinated Debentures due 2013 were converted by their holders into shares
of the company’s common stock as of the end of the day on July 20, 2007 in
connection with its previously announced conditional call for redemption of
these debentures.
As a result of the conversion of the entire $14.8 million aggregate
principal amount of these debentures, the company will issue approximately
1.5 million shares of its common stock to the former holders of the
debentures.
The company expects its annual interest expense to decline by
approximately $900,000 as a result of the conversion of these debentures.
The company also paid approximately $122,000 from its available cash
covering accrued and unpaid interest on the debentures to, but not
including, the July 20 conversion date. The company also announced that it
has repaid its outstanding revolving credit borrowings from Silicon Valley
Bank out of its available cash.
“We are pleased that our debenture holders elected to convert all of the
6% debentures into common stock,” said Abe Reichental President and Chief
Executive Officer. “The conversion of these debentures and the repayment of
these revolving credit borrowings further enhance our financial strength and
flexibility and mark another step in our ongoing plan to enhance our
financial strength and our flexibility to make investments to provide future
value to our customers and stockholders.”
About 3D Systems Corporation
3D Systems is a leading provider of 3-D Modeling, Rapid Prototyping and
Manufacturing solutions. Its systems and materials reduce the time and cost
of designing products and facilitate direct and indirect manufacturing by
creating actual parts directly from digital input. These solutions are used
for design communication and prototyping as well as for production of
functional end-use parts: Transform your products.
More information on the company is available at
www.3dsystems.com, or via
e-mail at moreinfo@3dsystems.com.
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