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Nano Dimension Ltd. (Nasdaq: NNDM) is a pioneer in the field of additive manufacturing technology, focusing on the development and production of intelligent 3D printing systems for Additively Manufactured Electronics (AME). The company's state-of-the-art 3D printing technologies are revolutionizing the way electronic devices are designed and manufactured, targeting sectors with growing demands for advanced features and rapid prototyping capabilities.
At the core of Nano Dimension’s innovations is the DragonFly multi-material 3D printer family, which utilizes proprietary conductive nano-silver inks and dielectric inks. This technology enables in-house agile hardware development and the creation of multi-layer printed circuit boards (PCBs), which are essential components in various electronic devices. Its applications span across diverse industries including consumer electronics, medical devices, defense, aerospace, automotive, IoT, and telecommunications.
Nano Dimension's machines are designed to meet the cross-industry needs by depositing proprietary conductive and dielectric materials simultaneously, allowing the integration of components such as capacitors, antennas, coils, and transformers. This integration leads to unprecedented performance in electronic devices. The company's portfolio extends into mechanical, chemical, industrial design, and artificial learning areas, addressing sophisticated requirements in autonomous intelligent drones, cars, satellites, smartphones, and medical devices.
Recent Achievements
Nano Dimension is continuously evolving, driven by deep learning-based AI to enhance manufacturing capabilities. By leveraging self-learning and self-improving systems, the company manages a distributed manufacturing network via the cloud, providing transformative solutions for Industry 4.0. Over 2,000 customers, including aerospace and defense, advanced automotive, high-tech industrial, specialty medical technology, R&D, and academia sectors, benefit from the company’s advanced AME and additive manufacturing solutions.
Latest Projects
In its latest initiatives, Nano Dimension announced the release of financial results for the fourth quarter and full year of 2023, showcasing its robust financial health and strategic growth plans. The company has also partnered with industry leaders like Esko and Fiery to further refine digital printing capabilities, underscoring its commitment to innovation and customer-centric solutions.
Financial Condition
The company’s financial trajectory remains strong, supported by strategic investments and partnerships that enhance its product offerings and market reach. Nano Dimension’s commitment to sustainable and economically efficient manufacturing processes aligns with its vision of transforming existing electronics and mechanical manufacturing into next-generation precision additive electronics.
For more information, visit www.nano-di.com.
Nano Dimension (NNDM) announced changes to its Board of Directors. David Stehlin has joined the Board, bringing extensive leadership experience in technology sector turnarounds and business growth from his work at companies including Telecommunications Industry Association, Spirent Communications, and MRV Communications. Stehlin holds a B.S. from the U.S. Naval Academy and an M.B.A. from National University.
Kenneth Traub has resigned from the Board following his appointment as CEO and President of Comtech Telecommunications Corp. Board Chairman Ofir Baharav welcomed Stehlin, highlighting his strategic approach and experience in leading innovative companies, while thanking Traub for his service to the company and shareholders.
Nano Dimension (NNDM) has announced significant changes under new Interim CEO Julien Lederman, addressing shareholders' concerns about the company's performance and direction. The company acknowledges issues including an 80% stock decline since 2021, unhealthy shareholder relations, and disproportionately high operating expenses.
Key announcements include: a $150 million share repurchase program, the lapsing of a shareholder rights plan, and expectations to achieve positive adjusted cash flow by Q4 2025. The company reported preliminary Q4 2024 revenue of $14.6 million (flat year-over-year) and full-year 2024 revenue of $57.8 million (up 3%).
Regarding pending mergers with Desktop Metal and Markforged, the company notes ongoing regulatory reviews and litigation that could impact timing or completion. The new strategy focuses on shareholder interests, ROI-driven capital allocation, and prudent expense management.
Nano Dimension (NNDM) has announced a significant leadership change with the immediate termination of CEO Yoav Stern and appointment of Julien Lederman as Interim CEO. This transition follows the December 6, 2024 annual general meeting where Stern was not re-elected as a director. Lederman, who has served as Vice President of Corporate Development since March 2021, brings experience from prominent organizations including Amazon, Goldman Sachs, and the World Economic Forum. The Board is currently conducting a comprehensive search for a permanent CEO.
Nano Dimension (NNDM) has responded to a lawsuit filed by Desktop Metal on December 20, 2024, regarding their merger agreement from July 2, 2024. Desktop Metal alleges that Nano Dimension failed to make reasonable efforts to obtain regulatory approval for the merger. Nano Dimension states the lawsuit is meritless and contradicts the merger agreement's terms, particularly concerning their right to complete the Committee on Foreign Investment in the United States (CFIUS) review process. The company views the lawsuit as an attempt to prevent them from exercising their merger agreement rights and to impose unauthorized deadlines. Nano Dimension plans to defend its position vigorously.
Nano Dimension (NNDM) announced significant changes to its Board of Directors following the 2024 annual general meeting and a recent Israeli court ruling. The board now consists of four members: Ofir Baharav (appointed as Chairman), Robert Pons, Dr. Joshua Rosensweig (Audit Committee Chairman), and Kenneth Traub. Six previous board members have resigned, including Dr. Yoav Nissan-Cohen and others. The newly reconstituted board expressed commitment to strong corporate governance and maximizing long-term shareholder value.
The changes follow the validation of a previously contested March 2023 extraordinary general meeting (EGM) by an Israeli court ruling, which confirmed the legitimate election of Rosensweig and Traub. Baharav and Pons were elected at the recent AGM, replacing Yoav Stern and Michael X. Garrett.
Nano Dimension's Tarantula Underfill system from its Essemtec product line has received the Global Technology Award for Innovation at SMTA International 2024 Show in Chicago. The system is designed for the assembly of complex devices in additive electronics, dispensing epoxy-based composite between chips and substrates to enhance mechanical strength and durability.
The system's key innovation lies in its non-contact heating solution and precise dispensing control, enabling underfill processes on two-side populated PCBs. The Tarantula Underfill features five different valve options: time-pressure, volume dispensing, micro screw, solder paste jetting, and glue jetting, allowing for customized solutions across various applications, particularly in aerospace, defense, and heavy-duty sectors.
Nano Dimension (NNDM) shareholders have elected Murchinson's nominees Ofir Baharav and Robert Pons to the Board of Directors, defeating CEO Yoav Stern and incumbent director Gen. Michael Garrett at the 2024 Annual General Meeting. Shareholders also rejected Mr. Stern's compensation package by approximately 75% of eligible votes.
The proposal to de-classify the Board received 67% support, falling short of the required 70% majority. Murchinson, holding approximately 7.1% of NNDM shares, believes that following the Israeli District Court's validation of the March 2023 Special Meeting and recent Board changes, four additional directors (Eitan Ben-Eliahu, Georgette Mosbacher, Ron Kleinfeld, and Christopher Moran) are no longer Board members based on various corporate governance provisions.
Nano Dimension (NNDM) shareholders have elected Ofir Baharav and Robert Pons to the company's Board of Directors at its 2024 Annual General Meeting. The shareholders approved the reappointment of Somekh Chaikin (KPMG member) as independent auditor and compensation for non-executive directors. However, they rejected the CEO's compensation terms and the proposal to de-stagger the Board.
Board Chairman Dr. Yoav Nissan-Cohen welcomed the new directors, noting their expected contribution to building long-term shareholder value. The company acknowledged the departure of directors Yoav Stern (who continues as CEO) and General Michael Garrett while reaffirming its commitment to becoming a market leader in digital manufacturing.
Nano Dimension (NNDM) has unveiled Ataru™, a groundbreaking new resin for DLP 3D printers at Formnext 2024. This proprietary material stands out for its exceptional high temperature tolerance, durability, and resilience, along with low-loss dielectric properties ideal for radiofrequency applications.
The innovative resin targets industrial-level additive manufacturing, particularly in electronics, aerospace, and automotive sectors. Ataru™ received recognition as the "Favorite New Material" at Formnext 2024 by 3Dprint.com, and has generated significant interest from other DLP manufacturers for machine qualification.
Nano Dimension (NNDM) urges shareholders to vote 'FOR' all company proposals at the upcoming 2024 Annual General Meeting. ISS, a leading proxy advisory firm, acknowledges Nano's progress in executing its value creation strategy and recommends voting for General Garrett's re-election. The company recently added two Murchinson nominees to its Board following an Israeli court ruling. Nano highlights its achievements, including successful M&A deals, improved financial performance, and governance enhancements. The company opposes additional Murchinson board representation, warning it could hinder long-term value creation. Shareholders must vote by December 1, 2024, at 11:59 p.m. ET.
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