3D Systems (DDD) Possibly Halted Ahead of Pricing Its Equity Offering

3D Systems (NYSE: DDD) shares were halted ahead of the start of trading Wednesday and were down over 4 percent ahead of the stoppage. No news is out on why the halt was called, though it might be related to a $250 million common stock offering announced by 3D Systems Tuesday night. The company also noted that certain stockholders, including certain officers and directors and their affiliates, are offering an aggregate of approximately 1.3 million shares in the offering. 3D Systems didn't specify the price per share, but in a 424B filed with the U.S. SEC today, under the section entitled "Recent Developments," the company had: Anticipated Charter Amendment to Increase Authorized Common Stock. Our certificate of incorporation currently authorizes the issuance of 120 million shares of common stock. At our 2013 annual meeting of stockholders, we are seeking stockholder approval to amend the certificate of incorporation to increase the number of shares of common stock that we are authorized to issue to 220 million shares. If approved by stockholders, these newly authorized shares of common stock would be issuable for any proper corporate purpose, including future acquisitions, capital-raising or financing transactions involving common stock, convertible securities or other equity securities, stock splits, stock dividends and current or future equity compensation plans. With shares of 3D Systems closing at $42.62 on Tuesday and trading at $40.65 early Wednesday, the $250 million offering might be dilutive by 6 million to 6.2 million shares. The company reported having 93,482,973 shares outstanding as of May 6, 2013.

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