Nano Dimension receives $1B acquisition offer

by | Nov 3, 2022 | Stock Market | 0 comments

Nano Dimension (NASDAQ: NNDM), an Israeli 3-D printing technology company, reportedly got an offer from its largest shareholder to buy out the company for $1 billion, as reported by Bloomberg. Murchinson Ltd, which is based in Toronto, Canada, made a non-binding proposal in September to Nano Dimension’s board of directors.

The company, which believed to own more than 10 million shares, made a bid to acquire the rest of the business on September 5 for $4 per share, representing a premium of 67% over the closing price of the stock on November 2. Nano Dimension jumped as high as 23% when the news broke out.

Neither a Nano Dimension nor a Murchinson representative could be reached for comment at the time of publication.

Nano Dimension said in an October statement that it projected third-quarter sales to be up 646% year on year to $10 million. However, despite a large increase in revenue, the company shares have declined more than 60% in the last year.

According to Yoav Stern, Nano Dimension’s CEO, the company had managed to deliver good results despite the ongoing challenges related to the war in Ukraine impacting its revenues in Europe.

As of September 30th, 2022, the company claimed a record-high backlog of more than $9 million. Interestingly, a valuation of the company was higher than the proposed sale because the entire cash, cash equivalents, and short-term investments amounted to roughly $1,188,000,000.


Submit a Comment

Your email address will not be published. Required fields are marked *

Recent posts

Israel’s inflation hits 4.1%, as apartment prices weaken

Israel’s inflation hits 4.1%, as apartment prices weaken

Israel's consumer price index (CPI) exceeded expectations in August, registering a monthly increase of 0.5%, pushing the annual rate to 4.1%, according to data released by the Central Bureau of Statistics. These figures not only exceeded early market estimates but...

The shekel’s uncertain future: analysing the prospects

The shekel’s uncertain future: analysing the prospects

The recent fluctuations in the exchange rate between the US dollar and the Israeli shekel have left financial markets and investors in a state of uncertainty. The shekel has been losing ground against the dollar for some time now, and this trend shows no sign of...

error: Content is protected !!