Desktop Metal Announces Delaware Court of Chancery Orders Nano Dimension to Complete Desktop Metal Merger
The Delaware Court of Chancery has ruled in favor of Desktop Metal (NYSE: DM) in its litigation against Nano Dimension regarding their merger agreement from July 2, 2024. The Court found that Nano materially breached the Merger Agreement and rejected their counterclaims.
The Court ordered Nano to execute a national security agreement with the Committee on Foreign Investment in the United States within 48 hours, which is the final condition for closing the merger. If closing hasn't occurred by March 31, 2025, Desktop Metal can extend the end date at its discretion. The ruling is immediately appealable to the Delaware Supreme Court under Court of Chancery Rule 54(b).
La Corte di Cancelleria del Delaware ha emesso una sentenza a favore di Desktop Metal (NYSE: DM) nella sua causa contro Nano Dimension riguardo all'accordo di fusione del 2 luglio 2024. La Corte ha stabilito che Nano ha violato materialmente l'Accordo di Fusione e ha respinto le loro controfferte.
La Corte ha ordinato a Nano di eseguire un accordo di sicurezza nazionale con il Comitato per gli Investimenti Stranieri negli Stati Uniti entro 48 ore, che rappresenta l'ultima condizione per la conclusione della fusione. Se la chiusura non è avvenuta entro il 31 marzo 2025, Desktop Metal può estendere la data di scadenza a sua discrezione. La sentenza è immediatamente appellabile alla Corte Suprema del Delaware ai sensi della Regola 54(b) della Corte di Cancelleria.
La Corte de Cancillería de Delaware ha fallado a favor de Desktop Metal (NYSE: DM) en su litigio contra Nano Dimension respecto a su acuerdo de fusión del 2 de julio de 2024. La Corte determinó que Nano incumplió materialmente el Acuerdo de Fusión y rechazó sus contrademandas.
La Corte ordenó a Nano ejecutar un acuerdo de seguridad nacional con el Comité de Inversiones Extranjeras en los Estados Unidos dentro de 48 horas, que es la condición final para cerrar la fusión. Si el cierre no se ha producido antes del 31 de marzo de 2025, Desktop Metal puede extender la fecha límite a su discreción. La sentencia es inmediatamente apelable ante la Corte Suprema de Delaware bajo la Regla 54(b) de la Corte de Cancillería.
델라웨어 채권법원은 Desktop Metal (NYSE: DM)이 Nano Dimension을 상대로 한 소송에서 승소했다고 판결했습니다. 이는 2024년 7월 2일자 합병 계약에 관한 것입니다. 법원은 Nano가 합병 계약을 중대하게 위반했다고 판단하고 그들의 반소를 기각했습니다.
법원은 Nano에게 48시간 이내에 미국 외국인 투자 위원회와 국가 안보 협정을 체결할 것을 명령했으며, 이는 합병을 마무리하기 위한 최종 조건입니다. 만약 2025년 3월 31일까지 마무리가 이루어지지 않으면, Desktop Metal은 임의로 종료 날짜를 연장할 수 있습니다. 이 판결은 채권법원 규칙 54(b)에 따라 델라웨어 대법원에 즉시 항소할 수 있습니다.
La Cour de Chancellerie du Delaware a statué en faveur de Desktop Metal (NYSE: DM) dans son litige contre Nano Dimension concernant leur accord de fusion du 2 juillet 2024. La Cour a constaté que Nano avait violé matériellement l'Accord de Fusion et a rejeté leurs demandes reconventionnelles.
La Cour a ordonné à Nano de signer un accord de sécurité nationale avec le Comité sur les Investissements Étrangers aux États-Unis dans un délai de 48 heures, ce qui constitue la dernière condition pour finaliser la fusion. Si la fusion n'est pas conclue d'ici le 31 mars 2025, Desktop Metal peut prolonger la date limite à sa discrétion. La décision est immédiatement susceptible d'appel auprès de la Cour Suprême du Delaware conformément à la règle 54(b) de la Cour de Chancellerie.
Das Delaware Chancery Court hat zugunsten von Desktop Metal (NYSE: DM) in seinem Rechtsstreit gegen Nano Dimension bezüglich ihres Fusionsvertrags vom 2. Juli 2024 entschieden. Das Gericht stellte fest, dass Nano den Fusionsvertrag wesentlich verletzt hat und wies deren Gegenansprüche zurück.
Das Gericht ordnete an, dass Nano innerhalb von 48 Stunden eine nationale Sicherheitsvereinbarung mit dem Ausschuss für ausländische Investitionen in den Vereinigten Staaten unterzeichnet, was die letzte Bedingung für den Abschluss der Fusion darstellt. Wenn der Abschluss bis zum 31. März 2025 nicht erfolgt, kann Desktop Metal das Enddatum nach eigenem Ermessen verlängern. Das Urteil ist gemäß Regel 54(b) des Chancery Court sofort beim Obersten Gerichtshof von Delaware anfechtbar.
- Court ruling enforces merger completion, providing clarity on deal execution
- Desktop Metal gains legal leverage to ensure merger completion
- Court grants Desktop Metal discretionary power to extend merger deadline
- Potential for further delays if Nano Dimension appeals the ruling
- Uncertainty around CFIUS national security agreement execution
- Extended timeline could impact deal value and business operations
Desktop Metal intends to move expeditiously toward closing as soon as possible, while continuing to serve its customers, employees and other stakeholders.
The Court’s opinion and order will be made available on Desktop Metal’s Investor Relations website.
About Desktop Metal
Desktop Metal (NYSE: DM) is driving Additive Manufacturing 2.0, a new era of on-demand, digital mass production of industrial, medical, and consumer products. Its innovative 3D printers, materials, and software deliver the speed, cost, and part quality required for this transformation. Desktop Metal is home to the original inventors and world leaders of the 3D printing methods it believes will empower this shift, binder jetting and digital light processing. Today, Desktop Metal’s systems print metal, polymer, sand and other ceramics, as well as foam and recycled wood. Manufacturers use its technology worldwide to save time and money, reduce waste, increase flexibility, and produce designs that solve the world’s toughest problems and enable once-impossible innovations. Learn more about Desktop Metal and its #TeamDM brands at www.desktopmetal.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements include statements relating to the proposed transaction between Desktop Metal and Nano Dimension, including statements regarding the closing of the Merger, and all other statements other than statements of historical fact that address activities, events or developments that Desktop Metal intends, expects, projects, believes or anticipates will or may occur in the future. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. All statements in this communication, other than statements of historical fact, are forward-looking statements that may be identified by the use of the words “outlook,” “guidance,” “expects,” “believes,” “anticipates,” “should,” “estimates,” “may,” “will,” “intends,” “projects,” “could,” “would,” “estimate,” “potential,” “continue,” “plan,” “target,” or the negative of these words or similar expressions. These forward-looking statements involve known and unknown risks and uncertainties, which may cause Desktop Metal’s actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Factors and risks that may cause Desktop Metal’s actual results or performance to be materially different from those expressed or implied in the forward-looking statements include, but are not limited to, the occurrence of any event, change or other circumstance that could interfere with or delay the closing.
The forward-looking statements included in this communication are made only as of the date hereof. Desktop Metal does not undertake any obligation to update any forward-looking statements to reflect subsequent events or circumstances, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250325447647/en/
Investors:
(857) 504-1084
DesktopMetalIR@icrinc.com
Source: Desktop Metal, Inc.
FAQ
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