Desktop Metal files suits against Nano Dimension for agreement breach, names Markforged
January 6, 2025
Desktop Metal, based in Burlington, Massachusetts, has been granted its motion for an expedited trial in its December 16, 2024, lawsuit against Nano Dimension, Waltham, Massachusetts. The lawsuit alleges that Nano Dimension breached its obligation under its merger agreement to use reasonable best efforts to obtain regulatory approval and close the agreement as soon as reasonably possible.
In addition, Desktop Metal filed a second lawsuit against Nano Dimension on December 31, naming Markforged Holding Corporation, based in Watertown, Massachusetts, as a co-defendant. This lawsuit alleges that the consummation of Nano Dimension’s agreement to acquire Markforged would breach the merger obligation to not finalise acquisitions that would ‘reasonably be expected to (1) increase, in any material respect, the risk of a governmental entity entering an order prohibiting, or (2) materially delay the consummation of the merger.’
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Desktop Metal has stated that – at the time of the original announcement of plans to acquire Markforged – it did not anticipate that the transaction would impact its own merger with Nano Dimension, because all parties anticipated that the Desktop Metal/Nano Dimension merger would close before the Markforged merger.
Noting events that occurred since the Markforged merger was announced – particularly Nano Dimension’s ongoing delays in obtaining CFIUS approval for the Desktop Metal merger – Desktop Metal stated that there is now an increased risk of a governmental entity preventing or delaying the consummation of its own merger with Nano Dimension.
The trial is expected to be scheduled for the week of February 24, 2025.
