NNDM Stock Price Increased 14.21%. Why It Happened

By Amit Chowdhry ● Jan 24, 2021
  • The stock price of Nano Dimension Ltd (NASDAQ: NNDM) increased by 14.21% as it went from a previous close of $12.60 to $14.39 on Friday January 22. This is why it happened.

The stock price of Nano Dimension Ltd (NASDAQ: NNDM) increased by 14.21% as it went from a previous close of $12.60 to $14.39 on Friday January 22. Nano Dimension has been surging over the past week and the momentum continued on January 22. These are some of the reasons why the stock price went up.

1.) $332.5 Million Registered Direct Offering Closed

On Tuesday, January 19, Nano Dimension announced it closed the previously announced registered direct offering of 35 million of the company’s American Depositary Shares (ADSs) at a price of $9.50 per ADS. And the gross proceeds of the offering were approximately $332.5 million, before deducting placement agent fees and other offering expenses.

Nano Dimension intends to use the net proceeds for working capital, other general corporate purposes, and pursuing strategic opportunities, including possible business combination transactions.

2.) Dr. Eli David Appointed To The Board of Directors

On Wednesday, January 20, Nano Dimension announced it appointed Dr. Eli David to the Board of Directors. Dr. David is known as a world-renowned AI expert specializing in deep learning and evolutionary computation with over 50 papers published in leading AI journals and conferences, mostly focusing on applications of deep learning and genetic algorithms in various real-world domains.

And for the past 15 years, he has been teaching courses on deep learning and evolutionary computation, in addition to supervising the research of graduate students in these fields. Plus he has also served in numerous capacities, successfully designing, implementing, and leading deep learning-based projects in real-world environments.

Dr. David also worked as an AI consultant to several Fortune 500 companies and major venture capital and private equity firms. And he is a frequently invited speaker in prominent AI venues, and a member of the Forbes Technology Council.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.