Nano Dimension Regains Compliance with Nasdaq Minimum Bid Price Requirement
November 06 2019 - 2:30AM
Nano Dimension Ltd., a leading additive electronics provider for
electronics (NASDAQ, TASE: NNDM), announced today that it has
received notification from the Listing Qualifications Department of
The Nasdaq Stock Market (“Nasdaq”) that it has regained compliance
with Nasdaq Listing Rule 5550(a)(2), which concerns minimum bid
price listing requirements. As previously announced, Nano
Dimension had been notified by Nasdaq that its American Depositary
Shares (“ADSs”) failed to maintain a minimum bid price of $1.00
over 30 consecutive business days as required by the Listing Rules
of The Nasdaq Stock Market.
On October 22, 2019, Nano Dimension effected a
ratio change of its ADSs to ordinary shares from each ADS
representing five ordinary shares (1:5) to each ADS representing
fifty (50) ordinary shares (1:50), which resulted in a 1 for 10
reverse split on the ADR program, in order to regain compliance
with the Nasdaq requirement. On November 5, 2019, Nasdaq provided
confirmation to Nano Dimension that for the last 10 consecutive
business days, from October 22 to November 4, 2019, the closing bid
price of Nano Dimension’s ADSs has been at $1.00 per share or
greater. Accordingly, Nano Dimension has regained compliance with
Listing Rule 5550(a)(2) and this matter is now closed.
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. 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 CONTACTGalit Beck,
Public Relations Manager | +972-542539495 | galit@nano-di.com
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