Nano Dimension Stock Price, News & Analysis

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.

The 3D printing market is projected to grow from USD 15.0 billion in 2023 to USD 34.5 billion by 2028, achieving a CAGR of 18.1%. Key factors driving this growth include the decrease in manufacturing costs, advancements in industrial-grade materials, and increased government investments. The market challenges include a decline in sales of 3D printing devices due to recession impacts. Opportunities arise from emerging applications in sectors like automotive and healthcare. Notable players in this space include Voxeljet (VJET) and Nano Dimension (NNDM), underscoring the competitive landscape and innovation in 3D printing technologies.

Stratasys Ltd. has unanimously rejected an acquisition proposal from Nano Dimension Ltd. at $20.05 per share, asserting that the offer significantly undervalues the company and is not in the best interests of its shareholders. Stratasys' Board, after thorough evaluation and in consultation with financial and legal advisors, emphasized concerns over the legitimacy of Nano's management structure due to ongoing litigation with its largest shareholder, Murchinson Ltd., which recently saw the removal of Nano's CEO and directors. The Board believes that pursuing a takeover under these circumstances could expose Stratasys and its shareholders to undue risks and uncertainties.

Stratasys remains committed to enhancing shareholder value through its growth strategies and has appointed J.P. Morgan as its financial advisor.

Nano Dimension (Nasdaq: NNDM) announced its preliminary financial results for Q1 2023, reporting unaudited revenues of $14.6 million. This figure marks a 40% increase compared to Q1 2022 and a 21% increase from Q4 2022. The company attributes this success to strong organic growth, particularly in its DragonFly IV revenue and sales of Additive Electronic products. CEO Yoav Stern emphasized that this quarter was the best in the company’s history, despite the typical seasonal trend of weaker performance in Q1. However, the results are preliminary and subject to adjustments. Nano Dimension continues to focus on transforming electronics manufacturing through innovative Additive Manufacturing technologies.

Nano Dimension Ltd. (Nasdaq: NNDM) has announced its intention to launch a special tender offer to acquire at least 51% of Stratasys Ltd. (Nasdaq: SSYS) shares at $18.00 per share. This represents a 26% premium over Stratasys' share price as of March 3, 2023. Nano Dimension currently holds 14.5% of Stratasys' outstanding shares and remains open to negotiating a consensual deal at a higher price of $20.05 per share. If negotiations fail, they will proceed with the tender offer. Additionally, Nano Dimension seeks a court ruling to prevent Stratasys' 'poison pill' strategy from being enacted against the tender offer.

Stratasys Ltd. (Nasdaq: SSYS) announced it received a revised unsolicited non-binding proposal from Nano Dimension Ltd. (Nasdaq: NNDM) to acquire Stratasys for $20.05 per share in cash. The Stratasys Board will review the proposal while emphasizing that shareholders need not take action at this time. This follows previous rejections of Nano's offers of $19.55 and $18.00 per share due to significant undervaluation of the company. Stratasys is committed to acting in the best interests of its shareholders as it evaluates this new proposal.