According to Bloomberg this evening, the largest shareholder in the 3D printer company Nano Dimension, the investment firm Murchinson, has made a bid to buy the remaining shares of the business for $995 million (Thursday).
According to the report, Murchinson, who owns more than 10 million shares in the company, made a non-binding offer to the board of Nano Dimension in September to buy the remaining shares for $4 each, representing a 52% premium at the time and a 67% premium over the stock’s closing price the day before.
It should be noted that Nano Dimension’s worth in the proposed sale is less than that amount, despite the fact that, according to the second quarter reports, a series of capital raisings enriched the company’s coffers to more than 1.2 billion dollars.
Yoav Stern, the chairman and CEO of Nano Dimension, specializes in 3D printing primarily of electronic components. In response to the announcement, its stock is currently increasing by around 10%, giving it a market worth of roughly $680 million.
Marc Bistriser, chief executive of Murchinson, wrote to the board of directors of Nano Dimension, saying, “We think that our offer is the best option for shareholders to gain maximum and certain value for their shares.” Murchinson has reportedly already retained financial consulting services and stated that she is prepared to start the due diligence process as soon as feasible, according to the Bloomberg story.