Nano Dimension Initiates up to $100 Million Share Repurchase Plan Process
May 17 2022 - 8:45AM
Nano Dimension Ltd. (“Nano Dimension” or the “Company”)
(Nasdaq: NNDM), an industry-leader in
Additively
Manufactured
Electronics
(
AME) and
Micro-
Additive
Manufacturing
(
Micro-
AM), announced today that
its board of directors has authorized a one-year share repurchase
plan (the “Repurchase Plan”) allowing the Company to invest up to
$100 million to repurchase its American Depository Shares (the
“ADS”).
The Repurchase Plan authorizes the Company’s
management to repurchase ADSs, from time to time, in open market
transactions, and/or in privately negotiated transactions or in any
other legally permissible ways, depending on market conditions,
share price, trading volume and other factors. Such repurchases
will be made in accordance with applicable U.S. securities laws and
regulations, under the U.S. Securities Exchange Act of 1934, as
amended (the “Exchange Act”), and applicable Israeli law, and are
subject to the approval of the Israeli court, which is meant to
ensure that the Company has enough resources for the Repurchase
Plan without affecting its other on-going obligations and
commitments.
The Company may repurchase all or a portion of
the authorized repurchase amount. The Repurchase Plan does not
obligate the Company to repurchase any specific number of the ADSs
and may be suspended or terminated at any time at management’s
discretion.
About Nano Dimension
Nano Dimension’s (Nasdaq: NNDM) vision is to
transform the electronics and similar additive
manufacturing sectors through the development and
delivery of environmentally friendly and economically efficient
additive manufacturing, Industry 4.0 solution, while enabling
a one-production-step-conversion of
digital designs into functioning devices – on demand, anytime,
anywhere.
The DragonFly
IV® system and specialized materials
serve
cross-industry High-Performance Electronic Devices (Hi-PEDs®)
fabrication needs by simultaneously depositing proprietary
conductive and dielectric substances, while integrating
in-situ capacitors, antennas, coils, transformers, and
electromechanical components. The outcomes
are Hi-PEDs® which are
critical enablers of autonomous intelligent drones, cars,
satellites, smartphones, and in vivo medical devices. In addition,
these products enable iterative development, IP safety, fast
time-to-market, and device performance gains.
Nano Dimension also develops complementary
production equipment
for Hi-PEDs® and
printed circuit board (PCB) assembly (Puma,
Fox, Tarantula, Spider etc.). The core
competitive edge for this technology is in its adaptive, highly
flexible surface-mount technology (SMT) pick-and-place equipment,
materials dispenser suitable for both high-speed dispensing and
micro-dispensing, as well as an intelligent production material
storage and logistics system.
Additionally, Nano Dimension is a leading
developer and supplier of high-performance control electronics,
software, and ink delivery system. It invents and delivers
state-of-the-art 2D and 3D printing hardware and unique operating
software. It focuses on high-value, precision-oriented
applications such as specialized direct-to-container packaging,
printed electronics functional fluids, and 3D printing, which can
all be controlled by the proprietary software system
- Atlas.
Serving similar users
of Hi-PEDs®, Nano
Dimension’s Fabrica 2.0 micro additive
manufacturing system enables the production of microparts based on
a Digital Light Processor (DLP) engine that achieves repeatable
micron levels resolution. The Fabrica 2.0 is engineered with a
patented array of sensors that allows a closed feedback loop, using
proprietary materials to achieve very high accuracy while remaining
a cost-effective mass manufacturing solution. It is used in the
areas of micron-level resolution of medical devices, micro-optics,
semi-conductors, micro-electronics, micro-electro-mechanical
systems (MEMS), microfluidics, and life sciences
instruments.
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 Repurchase Plan and the Company’s ability to implement it,
including receipt of the approval of the Israeli court. 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 31, 2022, 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 CONTACTYael
Sandler, CFO | ir@nano-di.com
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