Nano Dimension Granted 180-day Extension by Nasdaq to Regain Compliance with Bid Price Rule
September 18 2019 - 8:30AM
Nano Dimension Ltd., a leading additive
electronics provider for electronics (NASDAQ, TASE: NNDM),
announced today that on September 17, 2019, it received
notification from Nasdaq that the Company has been granted an
additional 180-day compliance period, or until March16, 2020, to
regain compliance with the minimum $1.00 bid price per share
requirement of Nasdaq's Marketplace Rule 5550(a)(2) (the "Rule").
Nasdaq's determination to grant the additional 180-day compliance
period was based on the Company meeting the continued listing
requirement for the market value of publicly held shares and all
other applicable requirements for initial listing on the Nasdaq
Capital Market with the exception of the bid price requirement, and
the Company having provided written notice of its intention to cure
the deficiency during the second compliance period, including
effecting a reverse stock split if necessary.
If at any time before March 16, 2020, the bid
price of the Company's American depositary shares closes at $1.00
per share or more for a minimum of 10 consecutive business days,
the Company will regain compliance with the Rule, and the matter
will be closed.
If the Company does not meet the minimum bid
requirement during the additional 180-day grace period, Nasdaq will
provide written notification to the company that its American
depositary shares will be subject to delisting. At such time, the
Company may appeal the delisting determination to a Nasdaq Hearings
Panel. The Company would remain listed pending the Panel's
decision. There can be no assurance that if the Company does appeal
a subsequent delisting determination, that such appeal would be
successful.
This current notification from Nasdaq has no
immediate effect on the listing or trading of the Company's
American depositary shares, which will continue to trade on the
Nasdaq Capital Market under the symbol "NNDM".
About Nano Dimension
Nano Dimension (Nasdaq, TASE: NNDM) is a leading
electronics provider that is disrupting, reshaping, and defining
the future of how cognitive connected products are made. With its
unique 3D printing technologies, Nano Dimension is targeting the
growing demand for electronic devices that require increasingly
sophisticated features. Demand for circuitry, including PCBs -
which are the heart of every electronic device - covers a diverse
range of industries, including consumer electronics, medical
devices, defense, aerospace, automotive, IoT and telecom. These
sectors can all benefit greatly from Nano Dimension’s products and
services for rapid prototyping and short-run manufacturing. For
more information, please visit www.nano-di.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, Nano Dimension is using
forward-looking statements in this press release when it discusses
regaining compliance with the Rule, and its intention to cure the
deficiency during the second compliance period, including effecting
a reverse stock split if necessary. Because such statements deal
with future events and are based on Nano Dimension's current
expectations, they are subject to various risks and uncertainties.
Actual results, performance or achievements of Nano Dimension could
differ materially from those described in or implied by the
statements in this press release. The forward-looking statements
contained or implied in this press release are subject to other
risks and uncertainties, including those discussed under the
heading “Risk Factors” in Nano Dimension’s annual report on Form
20-F filed with the Securities and Exchange Commission (“SEC”) on
March 14, 2019, and in any subsequent filings with the SEC. Except
as otherwise required by law, Nano Dimension undertakes no
obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release. Nano Dimension
is not responsible for the contents of third-party websites.
NANO DIMENSION INVESTOR RELATIONS CONTACT Yael
Sandler, CFO | ir@nano-di.com
NANO DIMENSION PR CONTACT Galit
Beck, Public Relations Manager | 972-542539495 |
galit@nano-di.com
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