Desktop Metal adopts limited-duration shareholder rights plan
May 30, 2023
On May 26, 2023, the Board of Directors at Desktop Metal, Inc., Burlington, Massachusetts, USA, announced that it had adopted a limited-duration shareholder rights plan, colloquially know as a ‘poison pill’, that is scheduled to expire on the earlier date of July 24, 2024, and/or the effective date of the merger with Stratasys.
The board of directors believe that this plan will maximise shareholder value in connection with the transaction by promoting the fair and equal treatment of all shareholders of the company whilst ensuring that the board remains well positioned to serve its client.
The plan, as laid out, also aims to “guard against open-market accumulations and other coercive tactics aimed at gaining control of the company without paying all shareholders a full control premium for their shares.”
Further detail is available here.
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