Desktop Metal Prevails in Delaware Court to Complete Proposed Nano Dimension Merger; Shares Surge

MT Newswires Live03-25

Desktop Metal (DM) rallied Tuesday, recently climbing nearly 90%, after the 3-D printer company announced that the Delaware Court of Chancery ruled in its favor in a legal dispute with Nano Dimension (NNDM) over their planned merger.

The court found that Nano Dimension materially breached the merger agreement and ordered the company to proceed with the deal. Specifically, the court mandated that Nano execute a national security agreement with the Committee on Foreign Investment in the US, which is the final regulatory condition for closing the transaction.

Desktop Metal and Israel-based Nano Dimension announced the merger agreement on July 2, 2024, valuing Desktop Metal at $5.50 per share in an all-cash deal, or about $183 million.

Desktop Metal shareholders approved the deal in October, but the company sued Nano Dimension in December, alleging the company failed to use "reasonable best efforts" to obtain regulatory clearance.

Nano Dimension shares recently were sinking over 16%. The company, which Desktop said can immediately appeal the decision to the Delaware Supreme Court, did not respond to a message from MT Newswires seeking comment on Tuesday.

Price: 4.26, Change: +1.99, Percent Change: +87.67

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