Nano Dimension
Nano Dimension has issued a letter to its shareholders in connection with its upcoming 2023 Annual General Meeting (AGM) of shareholders, addressing Murchinson’s attempts to enact change on the Nano Board. The company has also released a video with a message from CEO and Chairman Yoav Stern, in which he highlights “strong performance and significant long-term value creation” from Nano, while addressing “lack of a strategic plan” from Murchinson.
Nano is urging shareholders to “protect their investment” and the future of the company by voting for all of the Nano Dimension nominees for the board. Nano’s 2023 AGM will be held on September 7, 2023, and shareholders of record as of the close of business on July 31, 2023, are entitled to vote at the meeting.
In the letter to shareholders, Nano Dimension reiterated the intention of CEO Yoav Stern to step down if any of Murchinson’s nominees are elected, and said that senior management indicates “potentially similar intentions”.
Nano said: “With no insight into the business, one can only conclude that Murchinson’s intention is to take control of the company and liquidate Nano’s cash assets.”
The letter said that under Nano’s current strategy, revenues of the company tripled from 2020 to 2021, and grew more than 12x between 2020 and 2022. The company says it expects revenue to continue growing as its “buy and build” platform scaling strategy is advanced.
Nano’s letter also says that its “ambitious and focused” M&A strategy, combined with “strong organic growth”, has driven significant value creation in recent years. The company also said that the authorisation given to the company to repurchase 227.5 million USD in American Depositary Shares is part of Nano being committed to returning cash to shareholders.
The full letter to shareholders can be read here.
The video from Chairman and CEO Yoav Stern can be viewed here.
Read more:
A complete timeline of the Stratasys + Nano Dimension + Desktop Metal + 3D Systems story (so far)
Nano Dimension CEO to resign if Murchinson gains representation on Nano Board
Murchinson in new attempt to enact change at Board level of Nano Dimension
