Stock Track | Nano Dimension Plummets 5% as Major Shareholders Blast Mismanagement, Seek Board Shake-Up

Stock Track11-16

Shares of Nano Dimension Ltd (NNDM) tumbled over 5% in intraday trading on Friday, following scathing criticism from two of the company's major shareholders over alleged corporate governance lapses and mismanagement.

Murchinson Ltd, a 7.1% shareholder, issued a presentation accusing Nano Dimension's board and CEO Yoav Stern of pursuing a "failed capital allocation strategy" and making "dilutive M&A" deals that have destroyed shareholder value. The activist investor nominated two independent director candidates to overhaul the board at the upcoming annual meeting.

Separately, Anson Funds, Nano Dimension's largest shareholder, said it intends to vote against the re-election of all incumbent directors including Stern, citing lack of board oversight that allowed the CEO to continue "acquiring cash-burning entities despite a track record of poor results." Anson also plans to vote against Stern's "egregious" compensation package and in favor of proposals from dissident shareholders.

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