A trial date has been set for Desktop Metal's pending litigation against Nano Dimension regarding alleged breaches to their merger agreement.
The Delaware Court of Chancery granted Desktop Metal’s motion to expedite proceedings at a hearing in December 2024, finding that expedition was warranted to address Desktop Metal’s claims under the Merger Agreement. The parties will now participate in a court trial between March 11-12, 2025.
Desktop Metal initially filed against Nano Dimension in December 2024, less than six months after the two companies agreed to a transaction that would see Nano Dimension acquire Desktop in a deal worth between for between 135-183 million USD. Nano Dimension had pursued a deal with Desktop Metal to capture a variety of perceived synergies, expanding its addressable markets and kickstarting a materials-focused approach that would also see the company acquire Markforged. But Desktop Metal alleged that Nano Dimension had not used 'reasonable best efforts' to obtain regulatory approval of its proposed takeover of Desktop 'as soon as practicable'.
The deal to buy out Markforged was independent of the Desktop Metal takeover, but appeared to irk the Desktop Metal hierarchy, especially since Nano Dimension still had not completed the Destkop Metal acquisition by the beginning of 2025. In a second lawsuit filed by Desktop Metal in January 2025, Markforged was therefore named as a defendant. With this claim, Desktop Metal was arguing that closing the Markforged deal first would jeopardise Nano's ability to close the Desktop Metal Merger, and that would therefore see the acquiring company in breach of the agreement mapped out in July 2024.
Now, a court is set to hear all sides of the dispute next month. In announcing a trial date was set, Desktop Metal has said it 'remains committed to protecting its contractual rights while continuing to serve its customers, employees and other stakeholders.'
