Nano Dimension Shares Jumped 16% Today: What Happened?
Nano Dimension Ltd. (NASDAQ:NNDM) shares traded higher on Wednesday after the company announced preliminary second-quarter results and a strategic acquisition of Desktop Metal.
What Happened: Nano Dimension said it expects to report consolidated revenues of approximately $14.8 million for the second quarter, marking an 11% increase from the previous quarter.
The strong sales performance reflects the success of the Reshaping Nano Initiative, with further details expected when the full results for the quarter ended June 30 are published.
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What Else: Nano Dimension also announced that it entered into an agreement to acquire Desktop Metal Inc (NYSE:DM) in an all-cash transaction valued at $5.50 per share.
The purchase price may be adjusted for transaction expenses or an extended closing. Nano Dimension has committed to providing Desktop Metal with a $20 million secured loan facility if the closing of the transaction runs into 2025. If all reductions occur, the merger agreement price could fall to $4.07 per share, representing a total consideration of $135 million.
NNDM Price Action: Nano Dimension shares closed Wednesday up 16.7% at $2.52 according to Benzinga Pro.
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