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Nano Dimension Ltd. (Nasdaq: NNDM) announced key developments in its micro additive manufacturing (Micro-AM) business, including the launch of a next-generation system, new materials, and a strategic partnership with The Technology House (TTH). These innovations will be showcased at the RAPID + TCT conference in Chicago from May 2-4, 2023. The Giga and Tera lines of their latest systems offer micron-level resolution, catering to various production needs from prototyping to high-volume manufacturing. New materials introduced include a durable ABS-like material, a high-accuracy transparent material, and a composite ceramic material. TTH, a new customer, is recognized for its advanced manufacturing capabilities, highlighting Nano Dimension's increasing market traction.
Nano Dimension has announced that an Israeli court has ruled in favor of its full authority to pursue an acquisition of Stratasys. The company emphasized that this transaction would provide immediate cash payments at a significant premium to Stratasys shareholders. The court decision, made on April 16, 2023, rejected motions that aimed to restrict Nano Dimension's ability to conduct this acquisition. Nano Dimension plans to initiate a special tender offer of $18.00 per share to Stratasys shareholders, asserting that over 90% of its own shareholders oppose the current board's actions and are not swayed by Murchinson and Anson’s agenda. The company has also indicated that it will appeal against the appointment of observers linked to these opposing parties, reinforcing its commitment to finalize the acquisition.
Stratasys Ltd. (NASDAQ: SSYS) has responded to a recent Israeli court ruling concerning Nano Dimension Ltd. (NASDAQ: NNDM) and its largest shareholder, Murchinson Ltd. The court's decision raises concerns about whether substantial decisions are being made by Nano's Board of Directors in the shareholders' best interest. The litigation centers on the validity of a March 2023 Special General Meeting, where 92% of votes supported removing four directors, including CEO Yoav Stern. Although the court allowed Murchinson to appoint two directors as observers, Nano plans to appeal, casting doubt on its management's authority. Stratasys argues that Nano's actions pose significant risks to its shareholders.
Nano Dimension (Nasdaq: NNDM) recently announced a ruling from an Israeli court affirming that its board of directors retains full authority to manage corporate matters, including negotiations with Stratasys (Nasdaq: SSYS). This ruling counters previous claims from Stratasys regarding Nano Dimension's offers to acquire shares. The court also mandated the temporary appointment of two observers until the next annual meeting or resolution of the matter, a decision that Nano Dimension plans to appeal to the Supreme Court. CEO Yoav Stern expressed satisfaction with the ruling, hoping it clarifies the company's standing with Stratasys. The decision reinforces Nano Dimension's governance amidst ongoing discussions about potential acquisitions, pivotal for its strategic growth in additive manufacturing.