The ownership situation of Nano Dimension is still pretty messed up
The Atomic Layers: S4E28 (00114)
Atomic Layer of the Day:
Nano Dimension has had a fairly successful Formnext, highlighted by the launch of its new machine. It also reported a strong third quarter, achieving record revenues. The figures are still relatively modest ($14.9 million), but progress is visible. Unfortunately, at the highest ownership level, there is still significant disorder.
Since 2023, following its first attempt to acquire Stratasys, Nano Dimension has been facing challenges from its shareholder, the Canadian investment fund Murchinson Ltd. Murchinson, which holds around 7.1% of Nano Dimension shares, has been criticizing the company’s strategy and management for some time.
The conflict reached a climax when, in November 2024, an Israeli court ruled in favor of the fund, validating the results of a special general meeting held in March 2023. As a result, Murchinson appointed two of its representatives—Kenneth Trauba and Joshua Rosensweig—to Nano Dimension’s supervisory board.
Nano Dimension’s management warns that Murchinson’s actions could jeopardize the company’s future. According to management, the fund aims to gain control of half the supervisory board during the annual general meeting scheduled for December 6, 2024. Nano Dimension claims that the objective of these actions is to halt the company's development and potentially liquidate its assets.
These accusations against Murchinson are well-founded, as the fund has previously been penalized by the U.S. Securities and Exchange Commission (SEC) for market manipulation and violations related to short selling, resulting in multimillion-dollar fines.
Therefore, it’s difficult to determine who is right in this dispute—so it’s reasonable to assume that perhaps no one truly is. It’s a confusing situation.
Moreover, Desktop Metal and Markforged are about to be formally acquired. These acquisitions are crucial for all three companies involved. According to estimates, the combined revenue from Nano Dimension and the acquired companies in 2023 would amount to $340 million. Without this, Desktop Metal is “dying day by day,” and the future of Markforged will remain challenging.
Atomic Layer from the Past:
News & Gossips:
iSQUARED, a Stratasys subsidiary, has introduced new materials under the "iSQUARED Validated Materials" line and launched a marketplace for pre-owned Stratasys 3D printers. This new platform promotes sustainability by giving 3D printers a second life.
In the category of intriguing Formnext launches that went unnoticed, Davide Sher from VoxelMatters highlighted Filament2. This Israeli startup unveiled the world's first silicone filament for desktop 3D printers. At the exhibition, the material was demonstrated on affordable printers like the Bambu Lab A1 Mini, showcasing its capabilities. I regret missing them myself, as Davide's article suggests this is a truly impressive innovation.
Meanwhile, Snapmaker and Polymaker have announced a strategic partnership. The first result of their collaboration is the SnapDryer, a modular device designed to efficiently dry and store various 3D printing filaments.