Nano Dimension Announces ADS Ratio Change
October 07 2019 - 2:30AM
Nano Dimension Ltd., a leading additive electronics provider for
electronics (NASDAQ, TASE: NNDM), announced today that it will
change the ratio of its American Depositary Shares (“ADSs”) to
ordinary shares from each ADS representing five ordinary shares
(1:5) to each ADS representing fifty (50) ordinary shares (1:50).
This will result in a 1 for 10 reverse split on the ADR program.
The ratio change will be effective on October 22, 2019. For ADS
holders, the ratio change will have the same effect as a 1 for 10
reverse ADS split. On the effective date, each ADS holder will be
required to exchange every ten (10) ADSs then held for one (1) new
ADS. The Bank of New York Mellon, as depositary bank, will arrange
for the exchange of the current ADSs for the new ones. There is no
change to Nano Dimension’s underlying ordinary shares, and the ADSs
will continue to trade on the Nasdaq Capital Market under the
symbol “NNDM”. Holders of Nano Dimension’s ordinary shares, which
are traded on The Tel Aviv Stock Exchange, are entirely unaffected
by the new exchange ratio for ADSs. No fractional new ADSs will be
issued in connection with the change in the ADS ratio. Instead,
fractional entitlements to new ADSs will be aggregated and sold by
the depositary bank and the net cash proceeds from the sale of the
fractional ADS entitlements (after deduction of fees, taxes and
expenses) will be distributed to the applicable ADS holders by the
depositary bank. As a result of the change in the ADS ratio, the
ADS price is expected to increase proportionally, enhancing the
suitability of the ADSs for trading on the Nasdaq Capital Market,
although Nano Dimension can give no assurance that the ADS price
after the change in the ADS ratio will be equal to or greater than
ten times the ADS price before the change.
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 the expectation of an increase of its ADS price. 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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