BUZZ-Desktop Metal rises after Delaware court orders Nano Dimension to complete merger

Reuters03-25
BUZZ-Desktop Metal rises after Delaware court orders Nano Dimension to complete merger

** Shares of Desktop Metal DM.N rise 88.9% to $4.29 in morning trading

** Delaware Court of Chancery has ruled in favor of DM in its pending litigation against Nano Dimension 2N5By.F regarding merger between both companies

** Court, in its March 24 post-trial opinion and order, found that Nano had breached merger agreement

** It rejected Nano's counterclaims and granted DM specific performance

** Court has ordered that within 48 hours of its order, Nano must agree to and execute national security agreement with Committee on Foreign Investment in the United States (CFIUS)

** This would be sole remaining condition to closing the merger

** If the closing does not occur by March 31, end date under merger agreement may be extended, at DM's discretion, until the closing of merger, court further ordered

** Including session's moves, DM stock up 81.2% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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