Murchinson Sends Letter to Nano Dimension Shareholders Detailing the Need for Board Change Now in Order to Save Nano
Murchinson , holding approximately 7.1% of Nano Dimension shares, has issued a letter to shareholders emphasizing the urgent need for board changes. The investor criticizes CEO Yoav Stern and the current board for allegedly wasting about $600 million on questionable acquisitions that have reportedly destroyed shareholder value. Murchinson points to the company's persistent negative enterprise value as evidence of lost shareholder confidence. The letter also highlights concerns about Mr. Stern's compensation proposal and urges shareholders to vote for Murchinson's nominees, Ofir Baharav and Bob Pons, to restore accountability and protect shareholder value.
Murchinson, che detiene circa il 7,1% delle azioni di Nano Dimension, ha inviato una lettera agli azionisti sottolineando l'urgenza di cambiamenti nel consiglio di amministrazione. L'investitore critica il CEO Yoav Stern e l'attuale consiglio per aver presumibilmente sprecato circa $600 milioni in acquisizioni dubbie che avrebbero distrutto il valore per gli azionisti. Murchinson evidenzia il persistente valore dell'azienda negativo come prova della perdita di fiducia degli azionisti. La lettera solleva anche preoccupazioni riguardo alla proposta di compenso per il Sig. Stern e invita gli azionisti a votare per i candidati di Murchinson, Ofir Baharav e Bob Pons, per ripristinare la responsabilità e proteggere il valore per gli azionisti.
Murchinson, que posee aproximadamente el 7.1% de las acciones de Nano Dimension, ha emitido una carta a los accionistas enfatizando la urgente necesidad de cambios en la junta. El inversor critica al CEO Yoav Stern y a la actual junta por supuestamente haber desperdiciado alrededor de $600 millones en adquisiciones cuestionables que, según informes, han destruido el valor para los accionistas. Murchinson señala el persistente valor empresarial negativo de la compañía como evidencia de la pérdida de confianza por parte de los accionistas. La carta también destaca preocupaciones sobre la propuesta de compensación del Sr. Stern e insta a los accionistas a votar por los nominados de Murchinson, Ofir Baharav y Bob Pons, para restaurar la responsabilidad y proteger el valor de los accionistas.
머치슨은 나노 디멘션의 주식 약 7.1%를 보유하고 있으며, 이사회 변화의 시급한 필요성을 강조하는 주주들에게 편지를 발송했습니다. 투자자는 CEO 요아브 스턴과 현재 이사를 비난하며 약 $600 백만을 의문이 제기된 인수에 낭비했다고 주장하며 주주 가치를 훼손했다고 밝혔습니다. 머치슨은 회사의 지속적인 부정적 기업 가치를 주주 신뢰 상실의 증거로 지적하고 있습니다. 이 편지는 또한 스턴 씨의 보상 제안에 대한 우려를 강조하고, 머치슨의 추천자 오피르 바하라브와 밥 폰스에게 투표해 주주 가치를 보호하고 책임을 회복할 것을 촉구하고 있습니다.
Murchinson, détenant environ 7,1% des actions de Nano Dimension, a envoyé une lettre aux actionnaires soulignant le besoin urgent de changements au sein du conseil d'administration. L'investisseur critique le PDG Yoav Stern et le conseil actuel pour avoir prétendument gaspillé environ 600 millions de dollars dans des acquisitions douteuses qui auraient, selon des rapports, détruit la valeur pour les actionnaires. Murchinson souligne la valeur d'entreprise négative persistante de l'entreprise comme preuve d'une perte de confiance des actionnaires. La lettre met également en évidence des préoccupations concernant la proposition de rémunération de M. Stern et exhorte les actionnaires à voter pour les candidats de Murchinson, Ofir Baharav et Bob Pons, afin de restaurer la responsabilité et protéger la valeur des actionnaires.
Murchinson, der etwa 7,1% der Aktien von Nano Dimension hält, hat einen Brief an die Aktionäre geschickt, in dem er die dringende Notwendigkeit von Veränderungen im Vorstand betont. Der Investor kritisiert CEO Yoav Stern und den aktuellen Vorstand dafür, angeblich rund 600 Millionen US-Dollar für fragwürdige Übernahmen verschwendet zu haben, die angeblich den Shareholder-Wert zerstört haben. Murchinson weist auf den anhaltend negativen Unternehmenswert des Unternehmens hin, was als Beweis für verlorenes Vertrauen der Aktionäre dient. Der Brief äußert auch Bedenken hinsichtlich des Vergütungsvorschlags von Herrn Stern und fordert die Aktionäre auf, für die Kandidaten von Murchinson, Ofir Baharav und Bob Pons, zu stimmen, um Verantwortung wiederherzustellen und den Wert der Aktionäre zu schützen.
- None.
- Company maintains persistent negative enterprise value
- Approximately $600 million allegedly wasted on questionable acquisitions
- Shareholder value reportedly destroyed through management decisions
- Controversial CEO compensation proposal with excessive pay and severance terms
Insights
This activist campaign by Murchinson, owning
The criticism of CEO Yoav Stern's capital allocation decisions and the board's oversight capabilities highlights serious corporate governance concerns. Murchinson's push for board changes through nominees Ofir Baharav and Bob Pons appears aimed at addressing these fundamental issues. The negative enterprise value suggests the market values the company's operations at less than its cash holdings - a clear sign of investor skepticism about management's ability to generate value.
The activist intervention highlights significant risks in Nano Dimension's current trajectory. The company's negative enterprise value indicates severe market distrust in management's capital deployment strategy. The contentious points about acquisition decisions and executive compensation structure suggest potential corporate governance risks that could further impact shareholder value.
With a market cap of
Believes Shareholders Have Lost Faith in Management and the Board, Evidenced by the Company’s Persistent Negative Enterprise Value
Highlights the Approximately
Underscores the Current Board’s Inability to Hold Mr. Stern Accountable, Including by Supporting a Problematic Compensation Proposal that Would Award Mr. Stern Excessive Pay and Severance if He is Removed from the Board
Urges Shareholders to Vote for Murchinson’s Experienced and Independent Nominees, Ofir Baharav and Bob Pons, to Restore Accountability, Safeguard the Company’s Capital and Protect Shareholder Value
The full text of the letter is available at www.SaveNanoDimension.com and can be viewed here.
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About Murchinson
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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/20241105781966/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
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