NANO DIMENSION CLOSES $50 MILLION REGISTERED DIRECT OFFERING

Rhea-AI Summary

Nano Dimension (Nasdaq: NNDM) has successfully closed a registered direct offering of 16,722,000 American Depositary Shares (ADSs) at a price of $3.00 per ADS, generating approximately $50 million in gross proceeds. The net proceeds are intended for working capital and general corporate purposes. ThinkEquity acted as the sole placement agent for this offering, which was made under an effective shelf registration statement filed with the SEC. This strategic move aims to enhance the company's financial flexibility and operational capabilities.

Positive

• Raised approximately $50 million in gross proceeds from the offering.
• Intended use of funds for working capital and corporate purposes enhances operational capabilities.

Negative

• Issuance of new shares may lead to shareholder dilution.

Sunrise, Florida, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM), a leading Additively Manufactured Electronics (AME)/PE (Printed Electronics) provider, today announced it has closed the previously announced registered direct offering of 16,722,000 of the Company’s American Depositary Shares (“ADSs”) at a price of $3.00 per ADS. The gross proceeds of the offering were approximately $50 million, before deducting placement agent fees and other offering expenses. The Company intends to use the net proceeds for working capital and for other general corporate purposes.

ThinkEquity, a division of Fordham Financial Management, Inc., acted as sole placement agent for the offering.

This offering was made pursuant to an effective shelf registration statement on Form F-3 (File No. 333-249559) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement and accompanying prospectus describing the terms of the proposed offering have been filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement and accompanying prospectus may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, Telephone: (877) 436-3673; Email: prospectus@think-equity.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Nano Dimension

Nano Dimension (Nasdaq: NNDM) is a provider of intelligent machines for the fabrication of Additively Manufactured Electronics (AME). High fidelity active electronic and electromechanical subassemblies are integral enablers of autonomous intelligent drones, cars, satellites, smartphones, and in vivo medical devices. They necessitate iterative development, IP safety, fast time-to-market and device performance gains, thereby mandating AME for in-house, rapid prototyping and production. Nano Dimension machines serve cross-industry needs by depositing proprietary consumable conductive and dielectric materials simultaneously, while concurrently integrating in-situ capacitors, antennas, coils, transformers and electromechanical components, to function at unprecedented performance. Nano Dimension bridges the gap between PCB and semiconductor integrated circuits. A revolution at the click of a button: From CAD to a functional high-performance AME device in hours, solely at the cost of the consumable materials. 

For more information, please visit www.nano-di.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Nano Dimension is using forward-looking statements in this press release when it discusses planned use of the net proceeds from the offering. Because such statements deal with future events and are based on Nano Dimension's current expectations, they are subject to various risks and uncertainties. Actual results, performance or achievements of Nano Dimension could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Nano Dimension’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 10, 2020, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano Dimension undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Nano Dimension is not responsible for the contents of third-party websites.

NANO DIMENSION INVESTOR RELATIONS CONTACT
Yael Sandler, CFO | ir@nano-di.com

FAQ

What were the details of Nano Dimension's recent offering on October 28, 2020?

Nano Dimension closed a registered direct offering of 16,722,000 American Depositary Shares (ADSs) at $3.00 per ADS, raising approximately $50 million in gross proceeds.

How does the recent offering impact shareholders of NNDM?

The offering could result in shareholder dilution due to the issuance of new shares.

What will Nano Dimension do with the proceeds from the offering?

The company intends to use the net proceeds for working capital and other general corporate purposes.