Nano Dimension raises $100m on Nasdaq at big discount

Israeli electronics 3D printing company Nano Dimension Ltd. (Nasdaq: NNDM) announced of Friday that it had entered into definitive agreements with investors for the sale of 25 million American Depositary Shares at $4 each for gross proceeds $100 million, before fees and expenses. This was a major 31.7% discount on the company's share price on close of trade on Thursday of $5.86. On Friday, the company's share price fell 24.4% on Wall Street, giving a market cap of $316 million.

This is still far above the $0.80 that the company's share was worth six months ago when it delisted from the Tel Aviv Stock Exchange (TASE). Shortly afterwards, Nano Dimension announced a major breakthrough in its 3D printing technology for print circuit boards (PCBs). While circuit boards are essentially 2D structures, the company's DragonFly device is now able to 3D print three-dimensional printed circuit boards.

In the third quarter of 2020, Nano Dimension reported revenue of just $438,000 and a net loss of $20.7 million.

Published by Globes, Israel business news - en.globes.co.il - on November 22, 2020

Nano Dimension raises $100m on Nasdaq at big discount

The Israeli company recently announced a major breakthrough in its 3D printing technology for print circuit boards.