Desktop Metal Sold! Nano Dimension Swoops In All-Cash Offer
Portfolio Pulse from Lekha Gupta
Desktop Metal, Inc. (NYSE:DM) has been acquired by Nano Dimension Ltd. (NASDAQ:NNDM) in an all-cash deal valued at $5.50 per share, representing a 27.3% premium over DM's closing price. The deal, totaling approximately $183 million, could be adjusted based on certain conditions. The transaction is expected to close in Q4 2024. The combined entity aims to leverage increased scale and diversification, with a projected 2023 combined revenue of $246 million.
July 03, 2024 | 12:37 pm
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POSITIVE IMPACT
Desktop Metal, Inc. (NYSE:DM) has been acquired by Nano Dimension Ltd. in an all-cash deal at $5.50 per share, a 27.3% premium over its closing price. The deal is expected to close in Q4 2024.
The acquisition at a premium price is likely to boost DM's stock in the short term. The deal's approval and expected closing in Q4 2024 provide a clear timeline for investors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Nano Dimension Ltd. (NASDAQ:NNDM) will acquire Desktop Metal in an all-cash deal, using its current cash reserves. The combined entity expects a strong cash position and increased revenue diversification.
The acquisition is expected to enhance NNDM's market position and revenue diversification, which is positive for its stock. The use of cash reserves and expected strong cash position post-transaction are also favorable.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEUTRAL IMPACT
Stratasys Ltd. (NASDAQ:SSYS) previously terminated a merger agreement with Desktop Metal after shareholders did not approve the deal.
The mention of SSYS is historical and does not directly impact its current stock price. The focus is on the new acquisition by NNDM.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20