Nano Dimension CEO Yoav Stern. (Photo Nano Dimension)
Nano Dimension, an Israeli company in 3D printed electronics, will not be taken over by its CEO Yoav Stern. The company’s shareholders on Thursday rejected a bid by Stern to have Nano Dimension, which is traded on the NASDAQ, reprice his stock option, reported Calcalist.
Stern wanted to lower the share price of his options so that he could afford to excursive more of them. At the same time, Nano Dimension shareholders rejected an attempt to almost double the company’s total number of shares. This would have made it harder for external group to try and takeover the company thereby making it easier for Stern to take control for himself.
The special shareholder meeting was called by Nano Dimension which, in a statement, asserted, “Dimension’s capital has become a target and temptation for entities with an interest in taking over the Company for their business or personal needs. Their actions suggest they have the intention of dismantling the Company.”
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The statement went on to say, “protect the Company from any attempt to harm or impose measures that are not in the best of the Company and its shareholders. In the coming months, there may be further attempts to interrupt the Company’s conduct of business with the intention of inhibiting the Company’s ability to execute on its vision and strategy. Such attempts may be made based on the interests of specific shareholders and competitors, who are more focused on seizing Nano Dimension’s capital for their own benefit and their business affairs.”
Nano Dimension’s machines serve cross-industry needs by depositing proprietary consumable conductive and dielectric materials simultaneously, while concurrently integrating in-situ capacitors, antennas, coils, transformers and electromechanical components, to function at an unprecedented performance.
In other Nano Dimension news, the company this week revealed it had received a purchase order from a European army, for a DragonFly IV, the leading Additive Manufacturing Electronics (AME) 3D-printer. The European nation in question was not revealed.
This customer is the tenth western defense agency to become a user of Nano Dimension’s high performance additive manufacturing systems. For reasons of national security, Nano Dimension cannot reveal the name of the country it is from, but this is clearly a continuation of the company’s success in providing leading technology to those who need it most. This defense agency, and others like it, which include national armies, navies, air forces, and governmental intelligence agencies, rely on the DragonFly IV to advance innovation in a way that other manufacturing technologies of electronics manufacturing cannot achieve.
The DragonFly IV system and specialized materials serve cross-industry High-Performance-Electronic-Devices (Hi-PEDs®) fabrication needs by simultaneously depositing proprietary conductive and dielectric substances, while integrating in-situ capacitors, antennas, coils, transformers, and electromechanical components. The outcomes are Hi-PEDs® which are critical enablers of autonomous intelligent drones, cars, satellites, smartphones, and in vivo medical devices. In addition, these products enable iterative development, IP safety, fast time-to-market, and device performance gains.
