3D Systems Announces Conditional Call for Redemption of Its Series B Convertible Preferred Stock.VALENCIA, Calif. -- 3D Systems Corporation (Nasdaq:TDSC TDSC Thai Development Support Committee TDSC Time Domain Signal Coding TDSC Test Driver System - Charlie TDSC Time-Domain Spreading Code ) announced that today its Board of Directors authorized the Company to call for redemption on June 8, 2006 all of its outstanding Series B Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". at its redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. of $6.00 per share plus accrued and unpaid dividends Unpaid dividend A dividend declared by the directors of a corporation that has not yet been paid. unpaid dividend 1. A declared dividend that has not yet been paid. 2. See passed dividend. to that date, subject to the condition that the holders of those shares exercise their right to convert at least 70% of the currently outstanding shares of the preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. into shares of the Company's Common Stock no later than 5:00 p.m., Pacific Time, on June 8, 2006. The Series B Preferred Stock is convertible at a ratio of 1:1 into 2,616,516 shares of the Company's Common Stock plus approximately 23,300 additional shares of Common Stock relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc accrued and unpaid dividends to June 8, 2006. On May 5, 2006, the Company paid the regular semi-annual dividend of $0.30 per share on the preferred stock. The Company had originally issued the Series B Convertible Preferred Stock in 2003 in private transactions, and the Company's right to call the preferred stock for redemption has become exercisable. About 3D Systems Corporation 3D Systems is a leading provider of rapid 3-D printing, 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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