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Desktop Metal Stockholders Approve Merger with Nano Dimension
October 3, 2024 | Nano DimensionEstimated reading time: 1 minute
Nano Dimension Ltd. and Desktop Metal, Inc. jointly announced that, at a special meeting, Desktop Metal stockholders approved the merger agreement pursuant to which Desktop Metal would be acquired by Nano Dimension.
Of approximately 33 million outstanding DM shares, 60% were voted in favor of the approval of the merger agreement between Desktop Metal and Nano Dimension. Out of the total shares participating in the vote, greater than 96% of votes were cast in favor of the merger.
DM stockholder approval completes a critical requirement in the process of closing the transaction. While there are still some required regulatory approvals, the transaction is expected to close in the fourth quarter of 2024.
The final voting results of the Desktop Metal stockholder meeting held on October 2, 2024, will be filed in a Current Report on Form 8-K with the U.S. Securities and Exchange Commission (“SEC”) by Desktop Metal.
Ric Fulop, Desktop Metal’s Founder and Chief Executive Officer, said, “We are pleased that our stockholders, who have supported Desktop Metal over the years, are accepting the recommendation of our board of directors. 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 realize value from their current holdings in Desktop Metal. We appreciate the support of our stockholders.”
Yoav Stern, Nano Dimension’s Chief Executive Officer and member of the Board of Directors, said: “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 finalizing 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.”
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