- The stock price of Nano Dimension Ltd (NASDAQ: NNDM) fell below 8% pre-market. This is why it happened.
The stock price of Nano Dimension Ltd (NASDAQ: NNDM) – a leading Additively Manufactured Electronics (AME)/PE (Printed Electronics) provider – fell below 8% pre-market. Investors appear to be responding to an announcement from that company about a registered direct offering.
Nano Dimension had announced that it entered into definitive agreements with investors for the sale of 39.1 million of the company’s American Depositary Shares (ADSs) at a price of $12.80 per ADS pursuant to a registered direct offering.
The gross proceeds of the offering will be approximately $500 million, before deducting placement agent fees and other estimated offering expenses. And the company intends to use the net proceeds for working capital and for other general corporate purposes and pursuing strategic opportunities, including possible business combination transactions.
The closing of the registered direct offering is expected to happen on or about February 18, 2021, subject to the satisfaction of customary closing conditions.
ThinkEquity, a division of Fordham Financial Management, Inc., is acting as the sole placement agent for the offering.
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