Stock Track | Nano Dimension Plummets 5.27% Amid Heated Proxy Fight With Activist Shareholder

Stock Track11-26

Shares of Nano Dimension (NNDM) plummeted 5.27% in Tuesday's pre-market session, as the company finds itself embroiled in a high-stakes proxy fight with activist shareholder Murchinson Ltd. over control of the board.

Murchinson, which owns around 7.1% stake in the 3D printing company, is pushing for board changes at Nano Dimension's upcoming annual shareholder meeting on December 6th. The activist group wants shareholders to vote against re-electing CEO Yoav Stern and reject his proposed compensation package.

However, Nano Dimension is urging investors to support their proposals, including re-electing Stern and director Michael Garrett. The company argues that having more Murchinson nominees on the board will "paralyze" Nano Dimension's strategy and prevent maximizing long-term shareholder value. Notably, proxy advisory firms ISS, Glass Lewis and Egan-Jones have recommended voting in favor of Murchinson's proposals.

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