Nano Dimension Responds To Desktop Metal's Lawsuit Regarding Merger Agreement; Says "Believe The Lawsuit Is Nothing More Than An Effort By Desktop Metal To Prevent The Company From Exercising Its Rights Under The Merger Agreement And To Impose Deadlines And Obligations That Are Inconsistent With That Agreement"

Author: Benzinga Newsdesk | December 23, 2024 05:16pm

Nano Dimension Ltd. (NASDAQ:NNDM) ("Nano Dimension" or the "Company"), a supplier of Additive Manufacturing solutions, today shared its response to a December 20, 2024 lawsuit filed by Desktop Metal, Inc. (NYSE:DM) ("Desktop Metal") against the Company in the Delaware Court of Chancery alleging Nano Dimension has failed to use its reasonable best efforts to obtain regulatory approval in connection with the merger agreement between the parties dated July 2, 2024 (the "Merger Agreement").  

The Company believes the lawsuit is without merit and inconsistent with the terms of the Merger Agreement, particularly with respect to the Company's right to work through the review process that is under way with the Committee on Foreign Investment in the United States ("CFIUS"). The Company believes the lawsuit is nothing more than an effort by Desktop Metal to prevent the Company from exercising its rights under the Merger Agreement and to impose deadlines and obligations that are inconsistent with that agreement. The Company intends to vigorously defend itself and preserve its rights under the Merger Agreement.

Posted In: DM NNDM