Stockholders of Desktop Metal, Inc have approved a merger agreement allowing the company to be acquired by Nano Dimension Ltd, marking a major milestone in the transaction.
The merger, expected to close in the fourth quarter of 2024, now only awaits final regulatory approvals.
During a special meeting, 60 per cent of approximately 33 million outstanding Desktop Metal shares voted in favour of the merger.
Of the total votes cast, over 96 per cent supported the agreement, reflecting strong backing from shareholders.
Ric Fulop, founder and CEO of Desktop Metal, expressed gratitude for the stockholders’ confidence in the merger, emphasizing the strategic benefits of joining forces with Nano Dimension.
“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,” Fulop said.
Yoav Stern, CEO of Nano Dimension, highlighted the significance of this approval, stating, “We are another step closer to closing the acquisition of Desktop Metal and building a strong, new leader in the digital manufacturing space.”
Stern also noted that Nano Dimension is focused on securing the necessary regulatory approvals and advancing post-merger integration plans.
The merger is expected to strengthen the companies’ combined position in the digital manufacturing sector, with further growth anticipated through Nano Dimension’s planned business combination with Markforged.
The final voting results will be submitted to the US Securities and Exchange Commission (SEC) through a Form 8-K by Desktop Metal.
