Stratasys
Farhad “Fred” Ebrahimi, and his wife Mary Ebrahimi, have acquired a 5.13% stake in Stratasys, worth approximately 47 million USD. The couple are now a party-at-interest in the company, as detailed in the 13D SEC filing submitted on January 25, 2024.
Farhad Ebrahimi, whose net worth is at least 1.1 billion USD according to Forbes, is the largest shareholder in Desktop Metal, owning 15.02% of the company’s shares.
According to the SEC filing, Ebrahimi began purchasing common stock of Stratasys on November 29, 2023, and now owns 3,459,961 shares. The couple has also purchased 592,500 PUT options with an obligation to buy, that have an expiry date of January 17 2025.
PUT options are an instrument in financial markets that give the holder the right to buy or sell an asset, at a specified price, by a specified date to the writer of the PUT. Ebrahimi purchased 200 with a strike price of 15.00 USD, and 592,300 at a strike price of 17.50 USD.
Ebrahimi became the largest shareholder in Desktop Metal on May 30, 2023, five days after the failed Stratasys and Desktop Metal merger was initially announced, when he acquired 23,881,002 shares, approximately 7.43% of the company.
Ebrahimi was reportedly a prominent support of the merger between Stratasys and Desktop Metal, which collapsed in September 2023 after 78.6% of Stratasys’ shareholders voted against the deal. Following the termination of the merger, Ebrahimi acquired a further 2.5 million USD worth of shares in October 2023.
The SEC filing regarding the acquisition of the 5.13% stake in Stratasys also states that Ebrahimi currently has no intentions to pursue mergers and acquisitions, part sales from the assets, or seek a change to the company’s board of directors or management. Ebrahimi is listed as an activist investor.
More from the Stratasys M&A story here: A complete timeline of the Stratasys + Nano Dimension + Desktop Metal + 3D Systems story (so far)
