Murchinson Questions Nano Dimension’s Lack of Response to Reports of Suspected Connections Between Nano Management and Affiliates of a US-Sanctioned Kremlin-Related Russian Oligarch

Rhea-AI Summary

Murchinson , holding approximately 7.1% of Nano Dimension (NNDM) shares, raises concerns about reported connections between Nano's management and affiliates of a sanctioned Russian oligarch. The statement questions the $70 million DeepCube acquisition and its controllers, Yaron Eitan and Andrew Intrater, demanding transparency about their alleged ties.

Murchinson seeks clarification about Anakhnu 's beneficial owners and whether Nano's Board, including Lockheed Martin Ventures' General Manager Christopher J. Moran, was informed of these connections. The statement emphasizes the sensitive nature of AI technology and potential implications for Nano's U.S. defense sector clients.

Believes Yoav Stern's Silence is Deafening

TORONTO--(BUSINESS WIRE)-- Murchinson Ltd. (collectively with its affiliates and funds it advises and/or sub-advises, “Murchinson” or “we”), a significant shareholder with approximately 7.1% of the outstanding shares of Nano Dimension Ltd. (NASDAQ: NNDM) (“Nano” or the “Company”), today issued the following statement:

“Recent media reports have revealed facts suggesting questionable relationships between Nano’s leadership and affiliates of a sanctioned Russian oligarch, further calling into question the Board’s judgment and governance.^1,2 Despite this reporting, CEO Yoav Stern and the Board have remained silent.

Shareholders deserve answers and clarifications:

• Do Mr. Stern and the members of management deny being aware of the alleged connections between the sanctioned person and the two individuals who controlled DeepCube at the time Nano acquired it for more than $70 million – Yaron Eitan and Andrew Intrater?
  
  
• Who were the beneficial owners of the mysterious Anakhnu LLC?
  
  
• Were the Nano Board members (including Christopher J. Moran, General Manager of Lockheed Martin Ventures) made aware of these allegedly concerning connections (by Mr. Stern, CEO; by Mr. Eitan and Dr. Eli David, Nano directors at the time of Nano’s acquisition of DeepCube; or by external counsel)?
  
  
• Was the sensitive nature of AI technology in conjunction with what media reports describe to be close affiliation with a Kremlin-connected oligarch taken into consideration at the time of acquisition given the importance of the U.S. defense sector to Nano (as clients)?
  
  
• Why is Nano silent?

We urge Mr. Stern and the rest of the Nano Board to publicly address these questions. Shareholders deserve transparency and to be fully informed regarding material information that could impact their voting decisions.”

About Murchinson

Founded in 2012 and based in Toronto, Canada, Murchinson is an alternative asset management firm that serves institutional investors, family offices and qualified clients. The firm has extensive experience capturing the best returning opportunities across global markets. Murchinson’s multi-strategy approach allows it to execute investments at all points in the market cycle with fluid allocation between strategies. Our team targets corporate action, distressed investing, private equity and structured finance situations, leveraging its broad market experience with a variety of specialized products and sophisticated hedging techniques to deliver alpha within a risk-averse mandate. Learn more at www.murchinsonltd.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking information within the meaning of applicable securities laws. In general, forward-looking information refers to disclosure about future conditions, courses of action, and events. All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events are forward‐looking, and the use of any of the words “anticipates”, “believes”, “expects”, “intends”, “plans”, “will”, “would”, and similar expressions are intended to identify forward-looking statements. These statements are based on current expectations of Murchinson and currently available information. Forward-looking statements are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not prove to be accurate. Murchinson undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities legislation.

Disclaimer

The information contained or referenced herein is based on public information and is for information purposes only in order to provide the views of Murchinson and the matters which Murchinson believes to be of concern to shareholders described herein. The information is not tailored to specific investment objections, the financial situations, suitability, or particular need of any specific person(s) who may receive the information, and should not be taken as advice in considering the merits of any investment decision. The views expressed herein represent the views and opinions of Murchinson, whose opinions may change at any time and which are based on analyses of Murchinson and its advisors. In addition, the information contained herein is being publicly disclosed without prejudice and shall not be construed to prejudice any of Murchinson’s rights, demands, grounds and/or remedies under any contract and/or law.

¹ https://www.realclearmarkets.com/articles/2024/11/07/close_cfius_due_diligence_is_necessary_ahead_of_desktop_metals_acquisition_1070746.html#google_vignette  
² https://www.savenanodimension.com/our-resources

View source version on businesswire.com: https://www.businesswire.com/news/home/20241117947307/en/

Okapi Partners LLC

Bruce Goldfarb / Chuck Garske

212-297-0720

info@okapipartners.com



Longacre Square Partners

murchinson@longacresquare.com

Source: Murchinson Ltd.

FAQ

What concerns did Murchinson raise about Nano Dimension (NNDM) in their recent statement?

Murchinson raised concerns about potential connections between Nano Dimension's management and affiliates of a sanctioned Russian oligarch, particularly regarding the $70 million DeepCube acquisition and its controllers.

How much ownership stake does Murchinson have in Nano Dimension (NNDM)?

Murchinson holds approximately 7.1% of the outstanding shares in Nano Dimension.

What questions were raised about the DeepCube acquisition by NNDM?

Questions were raised about the beneficial owners of Anakhnu , the roles of Yaron Eitan and Andrew Intrater in controlling DeepCube, and whether the Board was informed about potential connections to a sanctioned Russian oligarch.

Why is the AI technology aspect significant in Murchinson's concerns about NNDM?

The AI technology aspect is significant due to Nano Dimension's involvement with U.S. defense sector clients, raising concerns about the sensitive nature of the technology in connection with reported Kremlin-related affiliations.