Leading AM electronics provider Nano Dimension has announced the sale of 17,950,000 of its American Depositary Shares (ADSs) at $2 per share in a registered direct offering. The sales are locked in with definitive agreements but, once complete, will total around $35.9M for the Nasdaq listed company. From this, a small portion will be deducted for placement agent fees and other smaller offering expenses. The sole placement agent in this case is ThinkEquity, a division of Fordham Financial Management.
Nano Dimension has stated that it intends to use the raised proceeds for working capital and a number of other general corporate and operational purposes. The registered direct offering is expected to close on May 22, provided the customary closing conditions are satisfied.
Investing in Nano Dimension
Further details of the terms of the proposed offering can soon be found in a prospectus supplement on the U.S Securities and Exchange Commission (SEC) website. Once available, electronic copies of the prospectus can be obtained from ThinkEquity. Before investing in the offering, reading the prospectus and supporting documents in their entirety is recommended.
Nano Dimension’s stock price has seen great volatility in recent days due to a number of major moves by the company. Before tumbling on Wednesday due to a deeply discounted share offering price, the stock quadrupled in the two days prior on the back of a breakthrough in 3D printed electronics. Together with military sensor specialist HENSOLDT, Nano Dimension succeeded in printing and assembling a double-sided ten layer PCB (printed circuit board) in a “world-first”. HENSOLDT intends to further develop the technology and apply it to heavy-duty military applications such as radar and optronics.
Shortly before the PCB breakthrough, leading polymer manufacturer REHAU also announced an AME milestone with the 3D printing of an electronic touch sensor using Nano Dimension’s DragonFly LDM. By integrating a 3D printed electronic circuit, REHAU was able to functionalize one of its premium polymer materials as part of the ‘Electronics into Polymers’ program focused on developing “smart polymers”.
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Featured image shows Nano Dimension 3D printed electronics. Photo via Nano Dimension.