Nano Dimension Stock Price, News & Analysis

Nano Dimension (Nasdaq: NNDM) emphasized that a shareholder meeting convened by Murchinson Ltd. is invalid and urged shareholders to disregard any proxy materials associated with it. The company has not solicited proxy cards and asserts that Murchinson is attempting to hold an illegal meeting that undermines shareholder rights. Nano Dimension has filed a lawsuit to declare the meeting illegal and is confident in its position. The management team, since January 2020, has achieved over a 15% increase in stock price while maintaining a robust governance structure aimed at enhancing shareholder value. No action is required from shareholders at this time.

Murchinson Ltd., the largest shareholder of Nano Dimension (NNDM), controls 5.2% of its shares and has urged the company to vote for its proposals to enhance governance. Institutional Shareholder Services (ISS) has backed Murchinson's call for significant board changes, citing serious concerns about underperformance and governance issues under CEO Yoav Stern. ISS recommends the removal of four current directors, including Stern, and the appointment of independent nominees Kenneth H. Traub and Dr. Joshua Rosensweig, asserting that this shift could address the company's significant discount to net asset value. Shareholders are advised to vote before the March 13, 2023 deadline.

Murchinson Ltd., the largest shareholder in Nano Dimension (NASDAQ: NNDM) with 5.2% of shares, has issued an open letter urging fellow shareholders to vote at the upcoming Special Meeting on March 20, 2023. They criticize the current Board, led by Yoav Stern, accusing it of a disinformation campaign and lack of transparency. Murchinson highlights a 77% decline in share value since Stern's appointment and a negative enterprise value exceeding $400 million. Murchinson advocates for the removal of four Board members and the addition of two independent nominees to improve governance and performance.

Nano Dimension (Nasdaq: NNDM) has reiterated serious allegations against Marc Bistricer and his companies, which are accused of orchestrating an illegal and abusive short selling scheme that violates Ontario securities law. The Ontario Securities Commission (OSC) claims that Bistricer profited over $1.27 million through these transactions linked to Canopy Growth Corporation. The OSC is seeking significant penalties, including the termination of Bistricer's registration, a permanent trading ban, and his resignation from all directorships. The hearing is scheduled for March 10, 2023, as the OSC aims to uphold market integrity and protect public interest.

Nano Dimension Ltd. (Nasdaq: NNDM) announced the installation of its Admaflex130 3D printing system at NASA’s Marshall Space Flight Center. This system, part of a project to 3D print sodium-ion batteries, showcases capabilities in multi-material manufacturing, particularly ceramics and metals. Acquired in July 2022, the Admaflex130 leverages Digital Light Processing technology, enabling high-resolution production of complex geometries. CEO Yoav Stern expressed pride in collaborating with NASA, highlighting the potential for innovative applications in space exploration.

Nano Dimension (Nasdaq: NNDM) announced a new purchase order from a leading Western intelligence agency for its DragonFly IV® 3D printer. This order signifies the growing reliance of defense and intelligence sectors on advanced Additive Manufacturing Electronics (AME) technologies. The DragonFly IV® enables the production of high-performance electronic devices, crucial for applications like drones and satellites. The CEO emphasized the significance of the client purchasing a second machine, showcasing the effectiveness of their technology and its potential to impact commercial markets significantly.

Nano Dimension (Nasdaq: NNDM) has announced its intent to contest the validity of a shareholder meeting called by Bistricer/Murchinson Ltd., asserting it as illegal. The company is seeking $10 million in damages due to alleged bad faith actions by Bistricer/Murchinson. With a remarkable 1,000% growth in annual revenues over two years and over $1 billion in cash reserves, Nano is focused on shareholder value and has initiated a $100 million share buyback program. The Board advises shareholders to disregard any proxy materials from Bistricer/Murchinson, stating no action is required at this time.

Murchinson Ltd., a significant shareholder of Nano Dimension Ltd. (NNDM), criticized the company's performance under Chairman Yoav Stern, citing a decline of over $400 million in enterprise value and a share price drop of more than 77% since 2021. Murchinson urged shareholders to vote at the Special General Meeting on March 20, 2023, advocating for the removal of four legacy directors and the appointment of qualified independent nominees Kenneth H. Traub and Dr. Joshua Rosensweig. The voting cut-off is 12:00 p.m. ET on March 13, 2023.

Nano Dimension Ltd. (Nasdaq: NNDM) informs shareholders to disregard proxy materials from Murchinson Ltd., as a special meeting notice issued by Murchinson is deemed invalid due to legal non-compliance. The company has filed a lawsuit in Israel to declare this meeting illegal and to seek damages. Nano Dimension emphasizes that no shareholder action is required at this time and will notify shareholders when a valid meeting is scheduled. The company remains focused on growth, having achieved a 1,000% increase in annual revenues ($4 million to $43.6 million) over two years while maintaining over $1 billion in cash and initiating a $100 million share repurchase program.