Israeli electronics 3D printing company Nano Dimension (Nasdaq: NNDM) has announced the pricing of 30 million shares at $6 million per share for a capital raise of $180 million. This is remarkably Nano Dimension's third offering over the past two weeks, having previously raised $100 million at $4 per share and $60 million at $5 per share for a total raise of $340 million. At the end of the third quarter, the company had $45.8 million cash.
Nano Dimension develops and manufactures 3D printers for electronic components. The company's share price on Nasdaq has risen by 291% since the start of the year, giving a market cap of $800 million. Based in Ness Ziona, Nano Dimension's president and CEO is Yoav Stern.
Nano Dimension delisted from the Tel Aviv Stock Exchange earlier this year, before the major jump in the company's share price, which followed a technological breakthrough with the company's DragonFly device now able to print 3D printed circuit boards (PCBs).
The company says it will use the capital raised for working capital and for other general corporate purposes including seeking out strategic opportunities and acquisitions. ThinkEquity acted as underwriters for the offering, which was supported by Advs. Oded Har Even, Reut Alfiah and David Huberman of the Sullivan & Worcester law firm.
Published by Globes, Israel business news - en.globes.co.il - on December 7, 2020
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