Desktop Metal Files Suit Against Nano Dimension Over Breach of M&A Agreement

MT Newswires Live12-21 05:24

Desktop Metal (DM) said Friday it filed a lawsuit against Nano Dimension (NNDM) alleging that Nano Dimension has breached its obligation to use "reasonable best efforts" to get regulatory clearance for their planned merger.

Desktop Metal said the Delaware Court of Chancery has scheduled a hearing on Dec. 30 to consider its motion for an expedited trial next month.

Desktop Metal said it is seeking specific performance, including requiring Nano Dimension to cooperate in getting clearance by the Committee on Foreign Investment in the US, or CFIUS.

The remaining regulatory condition to closing the deal is receipt of CFIUS approval, Desktop Metal said.

Desktop Metal also said it's seeking injunctive relief preventing Nano Dimension from ending the merger agreement.

Nano Dimension didn't immediately respond to a request for comment by MT Newswires.

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