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Nano Dimension (NNDM) has responded to a lawsuit filed by Desktop Metal on December 20, 2024, regarding their merger agreement from July 2, 2024. Desktop Metal alleges that Nano Dimension failed to make reasonable efforts to obtain regulatory approval for the merger. Nano Dimension states the lawsuit is meritless and contradicts the merger agreement's terms, particularly concerning their right to complete the Committee on Foreign Investment in the United States (CFIUS) review process. The company views the lawsuit as an attempt to prevent them from exercising their merger agreement rights and to impose unauthorized deadlines. Nano Dimension plans to defend its position vigorously.
Nano Dimension (NNDM) announced significant changes to its Board of Directors following the 2024 annual general meeting and a recent Israeli court ruling. The board now consists of four members: Ofir Baharav (appointed as Chairman), Robert Pons, Dr. Joshua Rosensweig (Audit Committee Chairman), and Kenneth Traub. Six previous board members have resigned, including Dr. Yoav Nissan-Cohen and others. The newly reconstituted board expressed commitment to strong corporate governance and maximizing long-term shareholder value.
The changes follow the validation of a previously contested March 2023 extraordinary general meeting (EGM) by an Israeli court ruling, which confirmed the legitimate election of Rosensweig and Traub. Baharav and Pons were elected at the recent AGM, replacing Yoav Stern and Michael X. Garrett.
Nano Dimension's Tarantula Underfill system from its Essemtec product line has received the Global Technology Award for Innovation at SMTA International 2024 Show in Chicago. The system is designed for the assembly of complex devices in additive electronics, dispensing epoxy-based composite between chips and substrates to enhance mechanical strength and durability.
The system's key innovation lies in its non-contact heating solution and precise dispensing control, enabling underfill processes on two-side populated PCBs. The Tarantula Underfill features five different valve options: time-pressure, volume dispensing, micro screw, solder paste jetting, and glue jetting, allowing for customized solutions across various applications, particularly in aerospace, defense, and heavy-duty sectors.
Nano Dimension (NNDM) shareholders have elected Murchinson's nominees Ofir Baharav and Robert Pons to the Board of Directors, defeating CEO Yoav Stern and incumbent director Gen. Michael Garrett at the 2024 Annual General Meeting. Shareholders also rejected Mr. Stern's compensation package by approximately 75% of eligible votes.
The proposal to de-classify the Board received 67% support, falling short of the required 70% majority. Murchinson, holding approximately 7.1% of NNDM shares, believes that following the Israeli District Court's validation of the March 2023 Special Meeting and recent Board changes, four additional directors (Eitan Ben-Eliahu, Georgette Mosbacher, Ron Kleinfeld, and Christopher Moran) are no longer Board members based on various corporate governance provisions.
Nano Dimension (NNDM) shareholders have elected Ofir Baharav and Robert Pons to the company's Board of Directors at its 2024 Annual General Meeting. The shareholders approved the reappointment of Somekh Chaikin (KPMG member) as independent auditor and compensation for non-executive directors. However, they rejected the CEO's compensation terms and the proposal to de-stagger the Board.
Board Chairman Dr. Yoav Nissan-Cohen welcomed the new directors, noting their expected contribution to building long-term shareholder value. The company acknowledged the departure of directors Yoav Stern (who continues as CEO) and General Michael Garrett while reaffirming its commitment to becoming a market leader in digital manufacturing.
Nano Dimension (NNDM) has unveiled Ataru™, a groundbreaking new resin for DLP 3D printers at Formnext 2024. This proprietary material stands out for its exceptional high temperature tolerance, durability, and resilience, along with low-loss dielectric properties ideal for radiofrequency applications.
The innovative resin targets industrial-level additive manufacturing, particularly in electronics, aerospace, and automotive sectors. Ataru™ received recognition as the "Favorite New Material" at Formnext 2024 by 3Dprint.com, and has generated significant interest from other DLP manufacturers for machine qualification.
Nano Dimension (NNDM) urges shareholders to vote 'FOR' all company proposals at the upcoming 2024 Annual General Meeting. ISS, a leading proxy advisory firm, acknowledges Nano's progress in executing its value creation strategy and recommends voting for General Garrett's re-election. The company recently added two Murchinson nominees to its Board following an Israeli court ruling. Nano highlights its achievements, including successful M&A deals, improved financial performance, and governance enhancements. The company opposes additional Murchinson board representation, warning it could hinder long-term value creation. Shareholders must vote by December 1, 2024, at 11:59 p.m. ET.
Nano Dimension (NASDAQ: NNDM) has issued a letter to shareholders regarding their upcoming 2024 Annual General Meeting, urging them to vote 'FOR' all company proposals by December 1st, 2024. The company emphasizes its progress in business performance, capital allocation, and corporate governance over the past year. The letter warns against Murchinson and Anson Advisors' attempts to gain control of half the Board, stating they already have two representatives. Nano's Board is seeking approval for two director nominees: General Michael X. Garrett and CEO Yoav Stern, to continue executing their growth strategy as a digital manufacturing leader.
Nano Dimension received an Israeli court ruling validating the March 2023 Extraordinary General Meeting results and subsequent Board decisions, including agreements to acquire Desktop Metal and Markforged. The court confirmed that Kenneth Traub and Dr. Joshua Rosensweig, former Murchinson nominees serving as Board observers, are now full Board members. Yoav Stern continues as CEO but is no longer a Board member, standing for election at the December 6, 2024 Annual Meeting. The company urges shareholders to vote 'FOR' all Nano's proposals and against Murchinson's proposals at the upcoming Annual Meeting.
The Israeli District Court has ruled in favor of Murchinson, validating the March 2023 special meeting results for Nano Dimension (NNDM). The Court confirmed shareholders' proposals to amend company articles, allowing them to fill Board vacancies and remove directors with simple majority. The ruling validates the removal of three directors (Stern, Nissan-Cohen, and Gera) and confirms Kenneth Traub and Dr. Joshua Rosensweig as legitimate Board members. Murchinson, holding approximately 7.1% of NNDM shares, urges the Board to comply with the decision immediately and implement the shareholder-approved changes.