Nano Dimension and Desktop Metal announced a definitive agreement in which Nano Dimension will acquire all outstanding shares of Desktop Metal for $5.50 per share in an all-cash transaction, potentially adjusting to $4.07 per share.
This acquisition represents a 27.3 per cent premium to Desktop Metal’s closing price and values the deal at approximately $183 million, potentially decreasing to $135 million.
Nano Dimension’s CEO, Yoav Stern, emphasised that the merger is a significant step towards becoming a leader in digital manufacturing, particularly in mass production for industrial applications.
Ric Fulop, CEO of Desktop Metal, highlighted the complementary nature of their product portfolios, which will enhance their ability to serve high-growth industries with advanced digital manufacturing technologies.
The merger will combine Nano Dimension’s expertise in 3D-printed electronics and high-performance materials with Desktop Metal’s industrial-scale metal and polymer applications.
This union aims to drive the transition from prototyping to mass production, diversify customer bases, and enhance recurring revenue potential with a portfolio of over 8,000 systems.
The transaction, approved unanimously by both companies’ Boards, is expected to close in the fourth quarter of 2024, pending customary approvals.
Nano Dimension plans to finance the acquisition using its cash reserves, projecting a strong post-transaction cash position of approximately $665-680 million.
The deal is subject to regulatory approvals and Desktop Metal’s stockholders’ consent.
Further details will be available in reports filed with the SEC.
