The Nano Dimension (NNDM) share price rose steeply on Wednesday following the release of positive news in its preliminary earnings report for Q2. The price rose by over 16% on the day after better-than-expected results were published in the hours before the market opened.
Nano Dimension Share Rise Following Positive Results and Acquisition News
Unaudited revenue was reported at $14.8m, which was only slightly better than the number reported for the same quarter in 2023; however, it was 11% better than Q1’s numbers. This led to analysts suggesting that NNMD had landed another new customer or secured a sizable sale from an existing client.
The news encouraged traders to buy shares of the additive manufacturing solutions provider, but there was another piece of news that helped fuel the day’s activity. That was the announcement that NNMD is set to complete the purchase of Desktop Metal (DM).
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The acquisition would end a period of intense speculation in the industry. A price of $5.50 per share has been agreed, giving a total price of $182m. However, while this price represents a 27.3% premium on the DM closing price, it could drop to as little as $4.07 to give a total cost of $135m if the sale isn’t completed by the end of the year or if the closing costs end up higher than anticipated.
Yoav Stern is the CEO of NNDM, and he said:
Our combination with Desktop Metal is another step in Nano Dimension’s evolution to become the leader in digital manufacturing, with capabilities in mass manufacturing for critical industrial applications.
