Desktop Metal stockholders approve Nano Dimension takeover
October 8, 2024
Nano Dimension, headquartered in Waltham, Massachusetts, USA, and Desktop Metal, based in Burlington, Massachusetts, have jointly announced that, following a special meeting, Desktop Metal stockholders approved the merger agreement under which Desktop Metal would be acquired by Nano Dimension.
It was stated that of the approximately 33 million outstanding Desktop Metal shares, 60% voted in favour of the merger. Out of the total shares participating in the vote, greater than 96% of votes were cast in favour. The final voting results of the Desktop Metal October 2 stockholder meeting will be filed in a Current Report on Form 8-K with the US Securities and Exchange Commission (SEC) by Desktop Metal.
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“We are pleased that our stockholders, who have supported Desktop Metal over the years, are accepting the recommendation of our board of directors,” Ric Fulop, Desktop Metal’s founder and Chief Executive Officer, stated. “This industry needs the combination of great products and technologies with a strong balance sheet to become self-sustaining. The agreement to combine with Nano Dimension is the best offer for stockholders to realise value from their current holdings in Desktop Metal. We appreciate the support of our stockholders.”
Yoav Stern, Nano Dimension’s Chief Executive Officer and board member added, “We are another step closer to closing the acquisition of Desktop Metal and building a strong, new leader in the digital manufacturing space. Now, Nano Dimension will stay focused on obtaining the necessary regulatory approvals and finalising post-merger integration plans which will enable us to close this deal and move the new business forward as soon as possible. The further business combination expected to close soon thereafter with Markforged reinforces the goal to build up a profitable industry leader.”
While some regulatory approvals remain, the transaction is expected to close in the fourth quarter of 2024.
