Murchinson Refutes Nano Dimension’s Latest False and Misleading Claims
Murchinson , holding approximately 7.1% of Nano Dimension (NASDAQ: NNDM) shares, has issued an investor presentation challenging Nano's recent public statements. The investment firm has nominated two director candidates - Ofir Baharav and Robert Pons - for election to Nano's Board at the upcoming 2024 Annual General Meeting scheduled for December 6, 2024. Murchinson criticizes Nano's performance, capital allocation strategy, M&A approach, and corporate governance practices, urging shareholders to support their nominees to address what they describe as ongoing value destruction.
Murchinson, che detiene circa il 7,1% delle azioni di Nano Dimension (NASDAQ: NNDM), ha presentato una comunicazione agli investitori contestando le recenti dichiarazioni pubbliche di Nano. La società di investimento ha nominato due candidati per il consiglio di amministrazione - Ofir Baharav e Robert Pons - per l'elezione al Consiglio di Nano in occasione della prossima Assemblea Generale Annuale, prevista per il 6 dicembre 2024. Murchinson critica le performance di Nano, la strategia di allocazione del capitale, l'approccio alle fusioni e acquisizioni e le pratiche di governance aziendale, esortando gli azionisti a sostenere i loro candidati per affrontare quella che descrivono come una continua distruzione di valore.
Murchinson, que posee aproximadamente el 7,1% de las acciones de Nano Dimension (NASDAQ: NNDM), ha emitido una presentación para inversores desafiando las recientes declaraciones públicas de Nano. La firma de inversión ha nominado a dos candidatos a director - Ofir Baharav y Robert Pons - para su elección en la Junta de Nano en la próxima Asamblea General Anual de 2024 programada para el 6 de diciembre de 2024. Murchinson critica el desempeño de Nano, la estrategia de asignación de capital, el enfoque en fusiones y adquisiciones, y las prácticas de gobernanza corporativa, instando a los accionistas a apoyar a sus nominados para abordar lo que describen como una destrucción continua de valor.
머친슨은 나노 디멘션(NASDAQ: NNDM)의 주식 약 7.1%를 보유하고 있으며, 최근 나노의 공개 성명에 도전하는 투자자 발표를 꺼냈습니다. 이 투자 회사는 오는 2024년 12월 6일로 예정된 연례 총회에서 나노의 이사회에 선출하기 위해 두 명의 이사 후보 - 오피르 바하라브와 로버트 폰스를 지명했습니다. 머친슨은 나노의 성과, 자본 배분 전략, M&A 접근 방식, 그리고 기업 거버넌스 관행을 비판하며, 자신들의 후보를 지지해 줄 것을 주주들에게 촉구하고 있습니다. 이들은 계속되고 있는 가치 파괴에 대한 해결책으로 여기에 대한 지원을 요청했습니다.
Murchinson, détenant environ 7,1% des actions de Nano Dimension (NASDAQ: NNDM), a présenté une communication aux investisseurs contestant les récentes déclarations publiques de Nano. La société d'investissement a nommé deux candidats au conseil d'administration - Ofir Baharav et Robert Pons - pour l'élection au conseil de Nano lors de la prochaine Assemblée Générale Annuelle de 2024 prévue pour le 6 décembre 2024. Murchinson critique la performance de Nano, la stratégie d'allocation du capital, l'approche en matière de fusions et acquisitions, ainsi que les pratiques de gouvernance d'entreprise, exhortant les actionnaires à soutenir leurs candidats pour faire face à ce qu'ils décrivent comme une destruction continue de la valeur.
Murchinson, der etwa 7,1% der Aktien von Nano Dimension (NASDAQ: NNDM) hält, hat eine Investorenpräsentation veröffentlicht, die die jüngsten öffentlichen Aussagen von Nano in Frage stellt. Die Investmentgesellschaft hat zwei Direktorenkandidaten - Ofir Baharav und Robert Pons - zur Wahl in den Vorstand von Nano bei der bevorstehenden Jahreshauptversammlung 2024, die für den 6. Dezember 2024 angesetzt ist, nominiert. Murchinson kritisiert die Leistung von Nano, die Kapitalallokationsstrategie, den M&A-Ansatz und die Unternehmensführung und fordert die Aktionäre auf, ihre Kandidaten zu unterstützen, um das, was sie als fortwährende Wertvernichtung beschreiben, anzugehen.
- None.
- Significant shareholder criticism of company's performance and management
- Allegations of failed capital allocation strategy
- Claims of value-destructive M&A activities
- Concerns about corporate governance practices
Insights
The ongoing proxy battle at Nano Dimension represents a significant corporate governance dispute with Murchinson, a
The timing of this proxy contest ahead of the December 2024 Annual Meeting is particularly notable, as it follows previous attempts to influence Nano's governance. The presentation of detailed criticisms regarding capital allocation and M&A strategy suggests potential legal and financial implications for the company's future operations and shareholder rights.
This proxy contest highlights serious concerns about Nano Dimension's strategic direction and board effectiveness. Murchinson's detailed critique of the company's performance and governance practices, backed by their significant ownership stake, indicates deep-rooted operational and oversight issues that require attention.
The nomination of two independent directors signals an attempt to implement meaningful change in oversight and strategic direction. The outcome of this proxy battle could fundamentally reshape Nano's governance structure and future strategic decisions, making this a pivotal moment for shareholders.
Sets the Record Straight by Providing the Facts Regarding Nano’s Underperformance, Failed Capital Allocation Strategy, Dilutive M&A and Worst-in-Class Corporate Governance
Corrects Distortions and Misrepresentations in Nano’s Recent Public Materials Regarding Murchinson’s Intentions and Nominees’ Skills and Experience
Urges Shareholders to Elect Murchinson’s Highly Qualified and Fully Independent Nominees – Ofir Baharav and Robert Pons – to Finally End the Status Quo of Value Destruction
As a reminder, Murchinson released a comprehensive presentation earlier this week detailing the urgent need for further change in the Nano boardroom. Shareholders can view the presentation and additional important materials at www.SaveNanoDimension.com.
About Murchinson
Founded in 2012 and based in
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 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241115141044/en/
Okapi Partners LLC
Bruce Goldfarb / Chuck Garske
212-297-0720
info@okapipartners.com
Longacre Square Partners
Ashley Areopagita
murchinson@longacresquare.com
Source: Murchinson Ltd.
FAQ
What percentage of Nano Dimension (NNDM) shares does Murchinson own?
When is Nano Dimension's (NNDM) 2024 Annual General Meeting scheduled?
Who are Murchinson's nominees for Nano Dimension's (NNDM) Board of Directors?
