After unveiling an acquisition deal, Nano Dimension Ltd. (NASDAQ: NNDM) experienced a notable increase in its share price on the US stock charts today. As of the latest check during current market session, NNDM stock has risen by 15.97%, reaching $2.51.
Agreement for Acquisition with Desktop Metal, Inc.
Nano Dimension (NNDM) announced that it has finalized a binding contract with and Desktop Metal, Inc. The agreement states that Nano Dimension will purchase all of Desktop Metal’s outstanding shares in an all-cash deal for $5.50 per share, with the possibility of downward modifications to $4.07 per share as noted.
This transaction, at $5.50 per share, represents a premium of 27.3% over Desktop Metal’s closing price and a premium of 20.5% over the 30-day VWAP as of July 2, 2024, for a total estimated value of $183 million. This amount could decrease to $4.07 per share or $135 million in total.
Strategic Integration and Expanded Capabilities
This merger marks a significant milestone in Nano Dimension’s progression towards becoming a leader in digital manufacturing, particularly in mass manufacturing for critical industrial applications.
Through this agreement, Desktop Metal will contribute its pioneering and complementary product portfolios to Nano Dimension, enhancing its capacity to serve customers in high-growth industries with a comprehensive range of digital manufacturing technologies for metal, polymer, electronics, casting, ceramics, and micro-polymer applications
Creating a Comprehensive Additive Manufacturing Leader
The transaction leverages the strengths of both companies across various end-user applications, Additive Manufacturing (AM) technologies, and material expertise. Nano Dimension is recognized for its leadership in 3D-printed electronics and high-performance polymer, ceramic, and metal applications, powered by DeepCube’s deep learning-based AI.
Desktop Metal stands out due to its emphasis on large-scale metal and polymer applications using exclusive materials, tools, and sintering techniques. This union aims to establish a long-term business and a pioneering entity in 3D printing, offering innovative solutions that transition from prototyping to mainstream tooling and end-use part production.
The merged company will be the first AM provider to meet the full spectrum of customer needs from prototyping to production across various critical and high-performance medical and electronics applications in industrial and high-performance materials.
