Exhibit 5.1
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Robert M. Grace, Jr.
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Direct Dial: +1 803.326.3989 |
Vice President, General Counsel |
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And Secretary |
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March 3, 2011
Board of Directors
3D Systems Corporation
333 Three D Systems Circle
Rock Hill, South Carolina-29730
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| Re: |
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Registration Statement on Form S-3 Regarding the Registration of $175 Million
of Securities |
Ladies and Gentlemen:
I am the Vice President, General Counsel and Secretary of 3D Systems Corporation, a Delaware
corporation (the Company), and as such I have acted as counsel to the Company in connection with
the Registration Statement on Form S-3 (the Registration Statement) of the Company filed with the
Securities and Exchange Commission (the Commission) on the date hereof pursuant to the Securities
Act of 1933, as amended (the Securities Act), in connection with the registration of (i) senior
and subordinated debt securities of the Company (collectively, the Debt Securities), (ii) common
stock of the Company, $0.001 par value per share, including the corresponding preferred stock
purchase rights attached to and that trade with the shares of common stock being registered
(together, the Common Stock), (iii) preferred stock of the Company, $0.001 par value per share
(the Preferred Stock), (iv) warrants for the purchase of securities of the Company described in
clauses (i) through (iii), and (v) units for the purchase of two of more of the securities of the
Company described in clauses (i) through (iv), in any combination (the Units and, together with
the Debt Securities, the Common Stock, the Preferred Stock and the Warrants, the Offered
Securities), having an aggregate maximum offering price not to exceed $175,000,000. The
Registration Statement also relates to the sale of shares of the Companys Common Stock, from time
to time, by certain stockholders of the Company to be identified at the time of any such sale (the
Selling Stockholders). All capitalized terms that are not defined herein have the meanings
assigned to them in the Registration Statement.
The Debt Securities will be issued pursuant to one or more indentures between the Company and
trustees yet to be named (collectively, the Indentures), the Warrants will be issued in one or
more series pursuant to one or more warrant agreements (each, a Warrant
3D Systems Corporation 333 Three D Systems Circle Rock Hill, SC 29730 USA
Phone: 803.326.3900 Fax: 803.326.4796 www.3dsystems.com NASDAQ: TDSC
3D Systems Corporation
Page 2
March 3, 2011
Agreement) between the Company and the warrant agent party thereto, and the Units will be issued
pursuant to one or more unit agreements (each, a Unit Agreement) between the Company and the unit
agent party thereto.
This opinion is being furnished to you for submission to the Commission as an exhibit to the
Registration Statement in accordance with the requirements of Item 16 of Form S-3 and Item
601(b)(5)(i) of Regulation S-K promulgated under the Securities Act.
As counsel for the Company, in addition to participating in the preparation of the
Registration Statement, I have examined the following documents:
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(a) |
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the Registration Statement, including the Exhibits identified
under Item 16 of the Registration Statement; |
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(b) |
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resolutions of meetings of the Board of Directors of the
Company held on February 7, 2011 relating to, among other things, the
preparation and filing of the Registration Statement and the due authorization
of the Offered Securities; and |
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(c) |
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a certificate dated March 2, 2011 from the Secretary of State
of Delaware as to the Companys existence, due incorporation and good standing
in the State of Delaware (the Good Standing Certificate). |
I have also examined originals or copies, certified or otherwise identified to my satisfaction, of
such records of the Company and such agreements, other certificates and receipts of public
officials, certificates of officers or other representatives of the Company and others, and such
other documents, and I have made such other inquiries, as I have deemed necessary or appropriate as
a basis for the opinions set forth below.
Based on the foregoing, I am of opinion that:
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1. |
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The Company is a corporation incorporated and existing under
the laws of the State of Delaware and is in good standing with the Secretary of
State of Delaware. |
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2. |
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When (a) the terms of any class or series of Debt Securities
have been authorized by appropriate corporate action of the Company, (b) the
Debt securities have been issued and sold upon the terms and conditions set
forth in the Registration Statement, the prospectus contained therein and any
applicable prospectus supplement, (c) such Debt Securities have been duly |
3D Systems Corporation
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March 3, 2011
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executed, authenticated and delivered in accordance with the applicable
Indenture and (d) the Company has received full payment therefor in accordance
with appropriate corporate action of the Company, then such Debt
Securities will be validly issued and will constitute legal, valid and binding
obligations of the Company, enforceable against the Company in accordance with
the terms of such Debt Securities and the terms of the applicable Indenture,
except as the enforceability thereof may be limited or otherwise affected by (i)
bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and
other laws affecting the rights of creditors generally and (ii) principles of
equity, whether considered at law or equity. |
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3. |
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When (a) the issuance of any Common Stock or the terms of any
class or series of Preferred Stock, and the subsequent issuance of such shares
of Preferred Stock, have been authorized by appropriate corporate action of the
Company, (b) with respect to any class or series of Preferred Stock, the
related certificate of designations establishing the relative powers,
designations preferences, rights and qualifications, limitations or
restrictions of such class or series has been duly filed with the Secretary of
State of the State of Delaware, (c) such Common Stock or class or series of
Preferred Stock has been issued and sold upon the terms and conditions set
forth in the Registration Statement, the prospectus contained therein and any
applicable prospectus supplement, and (d) the Company has received full payment
therefor in accordance with the appropriate corporate action of the Company,
then such Common Stock or Preferred Stock, as the case may be, will be validly
issued, fully paid and nonassessable. The Secondary Shares have been duly
authorized and validly issued and are fully paid and nonassessable. |
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4. |
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When (a) the terms of any Warrants or Units have been
authorized by appropriate corporate action of the Company, (b) such Warrants or
Units, as applicable, have been issued and sold upon the terms and conditions
set forth in the Registration Statement, the prospectus contained therein and
any applicable prospectus supplement, and any applicable Warrant Agreement or
Unit Agreement, (c) the certificates representing the Warrants or Units, as
applicable, have been duly executed, issued and delivered in accordance with
the applicable Warrant Agreement or Unit Agreement, and (d) the Company has
received full payment of the consideration therefor in accordance with the
appropriate corporate authorization, then such Warrants or Units, as
applicable, will be validly issued and will constitute legal, valid and binding
obligations of the Company, enforceable against the Company in accordance with
their terms and the terms of the applicable Warrant Agreement or Unit
Agreement, except as the enforceability thereof may be limited or otherwise
affected by (i) bankruptcy, insolvency, reorganization, moratorium, fraudulent
transfer and other laws affecting the rights of creditors generally and (ii)
principles of equity, whether considered at law or equity.
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3D Systems Corporation
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March 3, 2011
In expressing the opinions set forth above, I have assumed that (i) upon issuance of any
Offered Securities (to the extent consisting of Common Stock, Preferred Stock, Warrants or
Units), the total number of shares of Common Stock and Preferred Stock issued and reserved for
issuance will not exceed the total number of shares of Common Stock or Preferred Stock, as the case
may be, that the Company is authorized to issue under its Certificate of Incorporation, as then in
effect, (ii) with respect to Debt Securities, the applicable trustee will have been qualified under
the Trust Indenture Act of 1939, as amended, and a Statement of Eligibility of the Trustee on Form
T-1 will have been properly filed with the Commission, and (iii) each of the applicable Debt
Security, Indenture, Warrant Agreement and Unit Agreement will be governed by and construed in
accordance with the laws of the State of New York. The opinions set forth in paragraph 1 above are
based solely on the Good Standing Certificate.
I consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement and to
the reference under the heading Legal Matters therein. In giving this consent, I do not admit
that I am in the category of persons whose consent is required by Section 7 of the Securities Act
or the rules and regulations promulgated thereunder.
This opinion is limited to the matters stated in this letter, and no opinions may be implied
or inferred beyond the matters expressly stated in this letter. The opinions expressed in this
letter speak only as of its date. I do not undertake to advise you of any changes in the opinions
expressed herein from matters that might arise or be brought to my attention.
I wish to advise you that I am a member of the Bar of the State of New York. Accordingly, I
express no opinion as to any laws other than the laws of the State of New York, the corporate laws
of the State of Delaware and the Federal laws of the United States.
Very truly yours,
/s/
Robert M. Grace, Jr., Esq.
Vice President, General Counsel and Secretary