3D Systems Extends Loan Agreement with Silicon Valley Bank
 ROCK
HILL,
South Carolina, July 3, 2007 - 3D Systems Corporation (NASDAQ: TDSC), a leading
provider of 3-D Modeling, Rapid Prototyping and Manufacturing solutions,
announced today that it has entered into an additional amendment to its Loan
and Security Agreement with Silicon Valley Bank.
This amendment extends the maturity date of this credit facility to
October 1, 2007 and provides for a suspension of the requirement that the
company comply with the financial covenants under the Loan and Security
Agreement for the calendar quarter ended June 30, 2007 so long as the
Company satisfies certain conditions, which the company expects to satisfy.
The amendment also amends the borrowing base tied to the company’s
accounts receivable that is contained in the credit facility to explicitly
include certain accounts that otherwise would have been excluded. The
amendment also decreased the borrowing margins for prime-rate loans to 0
basis points for such loans and the borrowing margins for LIBOR-rate loans
to 275 basis points for such loans.
“We are very grateful for the confidence that Silicon Valley Bank has
shown in the company by entering into this amendment,” said Abe Reichental,
the company’s president and chief executive officer. “The extension of this
credit facility, together with our recent private placement of common stock
and the pending retirement of our convertible subordinated debt, should
further strengthen our balance sheet and liquidity.”
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 email
at moreinfo@3dsystems.com.
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Source: Material used in press releases is often supplied by external
sources and used as is.
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