Nano Dimension Announces Israeli Court Ruling That Board Can Continue Leading as Normal, Including Completion of a Stratasys Transaction
April 17 2023 - 7:33AM
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 printers, announced today
that the Israeli court decided that the Company’s board of
directors can continue to lead and govern the Company as they have
been with full capacity to make decisions in-line with their
existing responsibilities, including with regards to completion of
a transaction with Stratasys (Nasdaq: SSYS).
This decision confirms that the board of
directors has full legitimacy to transact with Stratasys, in
contrast to what was stated in the Stratasys press releases
concerning the Company’s indicative offers to buy the Stratasys
shares.
The court also decided that, on a temporary
basis, until the Company’s next annual meeting or resolution of
this matter by the court, two observers will be appointed, subject
to signing the Company’ non-disclosure agreements and their
obligation to maintain fiduciary duties. Nano Dimension intends to
appeal to the Israeli Supreme Court against this decision.
Yoav Stern, Chairman and Chief Executive Officer
of Nano Dimension, commented: “We are happy that an Israeli court
adjudicated what we have articulated to our shareholders and other
stakeholders – that our board of directors is authorized to execute
its full authority, both in the ordinary course and in the
non-ordinary course of business. We hope this clarifies our
standing, especially to Stratasys’ board of directors, who called
this issue into question. In regard to the court’s decision to
appoint two observers, the Company intends to appeal to the Israeli
Supreme Court.”
About Nano Dimension
Nano Dimension’s (Nasdaq: NNDM) vision is to
transform existing electronics and mechanical manufacturing into
Industry 4.0 environmentally friendly & economically efficient
precision additive electronics and manufacturing – by delivering
solutions that convert digital designs to electronic or mechanical
devices - on demand, anytime, anywhere.
Nano Dimension’s strategy is driven by the
application of deep learning based AI to drive improvements in
manufacturing capabilities by using self-learning &
self-improving systems, along with the management of a distributed
manufacturing network via the cloud.
Nano Dimension serves over 2,000 customers
across vertical target markets such as aerospace & defense,
advanced automotive, high-tech industrial, specialty medical
technology, R&D and academia. The company designs and
makes Additive Electronics and Additive Manufacturing 3D
printing machines and consumable materials. Additive Electronics
are manufacturing machines that enable the design and development
of High-Performance-Electronic-Devices (Hi-PED®s). Additive
Manufacturing includes manufacturing solutions for production of
metal, ceramic, and specialty polymers based applications - from
millimeters to several centimeters in size with micron
precision.
Through the integration of its portfolio of
products, Nano Dimension is offering the advantages of rapid
prototyping, high-mix-low-volume production, IP security, minimal
environmental footprint, and design-for-manufacturing capabilities,
which is all unleashed with the limitless possibilities of additive
manufacturing.
For more information, please
visit www.nano-di.com.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates,” and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, Nano Dimension is using
forward-looking statements in this press release when it discusses
the completion of a transaction with Stratasys and its intention to
appeal to the Israeli Supreme Court. Because such statements deal
with future events and are based on Nano Dimension’s current
expectations, they are subject to various risks and uncertainties.
Actual results, performance, or achievements of Nano Dimension
could differ materially from those described in or implied by the
statements in this press release. The forward-looking statements
contained or implied in this press release are subject to other
risks and uncertainties, including those discussed under the
heading “Risk Factors” in Nano Dimension’s annual report on Form
20-F filed with the Securities and Exchange Commission (“SEC”) on
March 31, 2022, and in any subsequent filings with the SEC. Except
as otherwise required by law, Nano Dimension undertakes no
obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release. Nano Dimension
is not responsible for the contents of third-party websites.
NANO DIMENSION INVESTOR RELATIONS CONTACT
Investor Relations | ir@nano-di.com
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