Nano Dimension is Successfully Executing a Disciplined and Focused Value Creation Strategy That is Driving Future Value for ALL Shareholders
Board and Management Team Led Transformational M&A, Financial and Operational Improvements and Governance Enhancements Over Past Year
Murchinson Once Again Seeking to Take Control of Nano Through a Series of Proposals That Would Paralyze the Company’s Strategy
Nano Dimension Urges Shareholders to Vote “ FOR ” Nano Dimension’s Proposals at the Annual General Meeting to be Held on Friday, December 6th, 2024
Act Fast – Voting Cut-off is on Sunday, December 1st, 2024, at 11:59 p.m. ET
To Learn More Visit: www.ProtectingNanoValue.com
Waltham, Mass., Oct. 28, 2024 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano Dimension” or the “Company”), a leading supplier of Additively Manufactured Electronics (“AME”) and multi-dimensional polymer, metal & ceramic Additive Manufacturing (“AM”) 3D printing solutions, today sent a letter to shareholders in connection with the Company’s upcoming 2024 Annual General Meeting of Shareholders (the “Annual Meeting”).
The letter details the progress Nano Dimension has made in executing its focused value creation strategy under the guidance of Nano Dimension’s Board of Directors (the “Board”) and the leadership of its management team. Key highlights of the past 12 months include:
| ● | Two transformational M&A agreements that accelerate Nano Dimension’s plans to become a leader in digital manufacturing; | |
| ● | Improvements in financial and operational performance; and | |
| ● | Significant governance enhancements. |
The letter also highlights the value destructive and deeply concerning proposed Annual Meeting agenda items received from Murchinson Ltd. (“Murchinson”). Despite shareholders’ clear rebuke last year, Murchinson is once again attempting to gain control of Nano Dimension through a series of proposals that would paralyze the Company’s strategy, while facilitating its path to gain control of the Board, obtain Nano Dimension’s cash, and prevent the maximization of long-term value for all shareholders.
The Board urges shareholders to protect their investment and the future of the Company by voting today “FOR” ALL of Nano Dimension ’s proposals. The Annual Meeting will be held on Friday, December 6th, 2024, at 7:00 A.M. ET. Shareholders of record as of the close of business on October 22nd, 2024, are entitled to vote at the Annual Meeting. Votes must be received by 11:59 P.M. ET on Sunday, December 1st, 2024.
The Company’s definitive proxy statement and other important information and resources related to the Annual Meeting can be found at www.ProtectingNanoValue.com or the investor relations page of the Company’s website.
The full text of the letter can be found below.
Nano Dimension Shareholders: Once Again, You Must VOTE to Protect Your Investment in Nano!
Dear Fellow Shareholder,
At last year’s Annual General Meeting (“AGM”) of Nano Dimension (“Nano” or the “Company”), you made the choice to protect your Company and your investment — your decisive votes prevented the self-interested actors at Murchinson Ltd. (“Murchinson”) from seizing control of Nano.
In the year since our last AGM, your Board of Directors (“Board”) and management team have been delivering on the promises we made to you, leading Nano’s successful expansion strategy to become a digital manufacturing leader.
We are executing on our multi-pronged growth strategy, comprised of transformational M&A, and driving improvements in financial and operational performance, while we have also instituted significant governance enhancements.
Despite our progress in executing our strategy, Murchinson is once again seeking to derail our approach for its own self-interested gains.
As a result, at the upcoming AGM to be held on December 6, 2024, shareholders must again vote to protect their investment.
The answer is clear:
| ✔ | Vote FOR ALL of Nano’s proposals, allowing our Board to continue executing on our strategic plan to build significant long-term value for all Nano shareholders; |
– AND –
| × | Vote AGAINST Murchinson’s efforts to derail our progress. All of their proposals will destroy value. |
Nano Is Executing a Focused Value Creation Strategy
Delivering Results and Driving Future Value Creation
Over the past year, your Board and management team have driven Nano’s transformation into a broad, digital manufacturing leader with expanded 3D printing and additive manufacturing (“AM”) capabilities.
Our strategy is delivering results . Nano’s strong organic growth from development and innovation in leading technologies, combined with a disciplined and focused M&A strategy and publicly stated plans to return capital to shareholders, are expected to continue to drive future value for shareholders:
Transformational M&A . The agreements to acquire Desktop Metal, Inc. (“Desktop Metal”) and Markforged Holding Corporation (“Markforged”), which are expected to close in the fourth quarter of 2024 and first quarter of 2025, respectively, are a realization of Nano’s ambitious and prudent M&A strategy to create the market leader in AM. The future combined company, including both Desktop Metal and Markforged, is expected to have approximately $340 million in revenue based on fiscal year 2023 and is expected to have approximately $475 million in cash, cash equivalents, and marketable securities at the time of expected closing of both transactions. The addition of both companies at compelling valuations is expected to accelerate Nano’s path to becoming a leading force in Industry 4.0 and digital manufacturing, further strengthening the Company’s value proposition for shareholders, customers and employees, as well as provide Nano with a clear path to profitability.
Improved Financial and Operational Performance
. Nano’s focus on operational excellence has enabled it to deliver
strong organic growth and meaningful efficiencies. This focus has enabled the leadership team to scale Nano, drive improved business performance and deliver results to the bottom line. Nano’s focus on sales wins and new product development has led to 29% organic revenue growth in 2023 compared to the prior year. Importantly, it is not just about the top-line — Nano reported a 69% reduction in cash burn in the first half of 2024 from the first half of 2023 and is laser-focused on driving towards profitability.
