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Nano Dimension Ltd. (Nasdaq: NNDM) announced the closing of a registered direct offering of 7,356,521 American Depositary Shares (ADSs) at $2.30 each, generating approximately $16.9 million in gross proceeds. The net proceeds will be utilized for working capital and general corporate purposes. The offering was facilitated by ThinkEquity, a division of Fordham Financial Management, and conducted under existing shelf registration statements with the SEC. This announcement reflects Nano Dimension's ongoing commitment to growth in the Additively Manufactured Electronics sector.
Nano Dimension (Nasdaq: NNDM) announced the sale of 7,356,521 American Depositary Shares (ADSs) at $2.30 each, aiming to raise about $16.9 million in gross proceeds. The funds will be allocated for working capital and general corporate purposes. The offering is expected to close around October 5, 2020, pending standard closing conditions. The offering is conducted under an effective shelf registration statement, ensuring compliance with SEC regulations.
Nano Dimension Ltd (Nasdaq: NNDM) announced the appointment of Dr. Joseph Kaplun as Chief Technology Officer – Materials and Vice President of R&D, effective September 14, 2020. Dr. Kaplun brings extensive experience from previous roles, including co-founder and CTO of Phononics Technologies Ltd and 25 years at the Israel Aerospace Industries. His focus will be on accelerating product development and improving technology to enhance the company’s competitive position. CEO Yoav Stern emphasized the need for advanced technology in response to market changes, particularly due to COVID-19 and trade dynamics.
Nano Dimension Ltd (Nasdaq: NNDM) has announced that Yaron Eitan, a board member since February 2020, will purchase a warrant to acquire up to 1,500,000 ADSs at an exercise price of $2.25 each, totaling $3,375,000. The warrant costs $150,000, vests over three years, and has a seven-year term. Mr. Eitan expressed confidence in the company's unique technology and management team, indicating a strong belief in Nano Dimension's market position and potential for growth in the Additively Manufactured Electronics sector.
Nano Dimension Ltd. (Nasdaq: NNDM) announced second-quarter financial results for 2020, reporting revenues of $288,000, a decline from $1,161,000 in Q2 2019. The company's cash balance stood at $49.5 million, while it recorded an operating loss of $3.8 million. Factors contributing to revenue decline include Covid-19's impact on capital equipment budgets. Net loss widened to $8.3 million or $0.27 per share, influenced significantly by finance expenses related to warrants. The company plans to enhance product development during the pandemic.
Nano Dimension Ltd (Nasdaq: NNDM) reports that CEO Yoav Stern has purchased a Series A warrant for 6,880,402 ADSs at an exercise price of $5,160,302, with a cost of $150,000. To align his interests with shareholders, Stern forfeits options for 29,050,000 Ordinary Shares. While Stern anticipates zero revenue for Q2-2020 due to COVID-19 impacts, he expresses confidence in the company's long-term potential. Key strategies include focusing on product development and pausing heavy sales and marketing investments.
Nano Dimension Ltd. (Nasdaq: NNDM) will release its second quarter 2020 financial results on August 13, 2020, before the Nasdaq market opens. A conference call will be held at 9:00 a.m. ET on the same day, hosted by CEO Yoav Stern and CFO Yael Sandler, to discuss the results. Investors can join the call via a dedicated phone line or through a webcast. The company specializes in Additively Manufactured Electronics (AME) technology, enabling rapid prototyping and production of high-performance electronic devices from CAD designs.
Nano Dimension Ltd (Nasdaq: NNDM) announced a 1-for-50 reverse stock split approved by shareholders on April 16, 2020. This will reduce authorized shares from 2.5 billion to 50 million and increase par value from NIS 0.10 to NIS 5.00. The ratio of American Depositary Shares (ADSs) to ordinary shares will also change to 1:1, with no overall effect expected on ADS pricing. This split is set to take effect on June 29, 2020. The reverse split will not alter shareholder ownership percentages, with no fractional shares issued.
Nano Dimension Ltd. (Nasdaq: NNDM) has completed a registered direct offering of 17,950,000 American Depositary Shares at $2.00 per ADS, raising approximately $35.9 million before expenses. The proceeds will be used for working capital and general corporate purposes. The offering was managed by ThinkEquity, part of Fordham Financial Management. The transaction was conducted under an effective shelf registration with the SEC. This move indicates Nano Dimension's strategy to enhance its financial position and support business operations.
Nano Dimension (Nasdaq: NNDM) announced a registered direct offering of 17,950,000 American Depositary Shares at $2.00 per ADS, aiming to raise approximately $35.9 million before fees. Proceeds will be allocated for working capital and general corporate purposes. The closing is anticipated on or about May 22, 2020, pending customary conditions. ThinkEquity is the sole placement agent for this offering. This move follows regulatory compliance under an effective shelf registration filed with the SEC, with details to be outlined in a prospectus supplement.