24/7 Market News Snapshot 03 Jul 2024 – Nano Dimension Ltd. American Depositary Shares (NASDAQ: NNDM)
DENVER, Colo., 03 July, 2024 (247marketnews.com) – (Nasdaq:NNDM) are discussed in this article.
Nano Dimension Ltd. American Depositary Shares (NNDM) are demonstrating robust growth today, with an open of $2.17 surging to $2.60, marking a notable 20.46% increase since the market opening. The current trading price indicates a positive shift from the previous session close of $2.16, highlighting encouraging market activity with a volume of 1.1 million shares traded, reflecting heightened investor interest in NNDM. Technical analysis suggests a bullish trajectory for Nano Dimension Ltd., potentially offering advantageous prospects for investors amid the ongoing positive momentum.
In a groundbreaking move, Nano Dimension Ltd. (Nasdaq:NNDM) and Desktop Metal, Inc. (NYSE:DM) have announced a transformative merger through a definitive agreement for Nano Dimension’s acquisition of all outstanding shares of Desktop Metal in an all-cash transaction valued at approximately $183 million. The acquisition, with potential adjustments reducing the amount to $135 million, signifies a significant strategic step for both companies towards becoming leading entities in digital manufacturing and additive manufacturing technologies.
This strategic merger seeks to leverage the strengths and expertise of Nano Dimension and Desktop Metal to create a diversified global leader in digital manufacturing. By integrating industrial application capabilities and complementary product offerings, the combined entity aims to deliver enhanced value to stakeholders, drive profitable growth, and foster innovation. The merger is expected to result in substantial recurring revenue and cost synergies, with projected savings exceeding $30 million in run-rate savings over the coming years.
Both companies envision the merger as a catalyst for industry-wide adoption of advanced manufacturing solutions and increased customer outreach across various sectors. The transaction, subject to customary closing conditions and regulatory approvals, is anticipated to conclude in the fourth quarter of 2024. Nano Dimension and Desktop Metal remain committed to delivering cutting-edge additive manufacturing solutions, shaping the future of digital manufacturing, and pioneering innovation in the evolving landscape of advanced manufacturing technologies. Interested parties are encouraged to stay informed about this transformative merger through official filings with the U.S. Securities and Exchange Commission and by participating in the scheduled joint investor call on Wednesday, July 3rd at 8:30 AM ET to gain deeper insights into this groundbreaking development in the additive manufacturing industry. For further details on Nano Dimension and Desktop Metal, please visit www.nano-di.com and www.desktopmetal.com respectively.
Statements contained in this release are forward-looking and subject to inherent risks and uncertainties. Actual results may vary due to external factors beyond the companies’ control. For comprehensive disclaimers and disclosures, please refer to the complete press release.
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