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Nano Dimension Announces Important Business Updates

Company plans for the buy back of up to $200 million of shares, looks to patent material breakthrough.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Nano Dimension Ltd. announced a series of updates covering its repurchase plan, repeat customer success, and an R&D milestone.

Nano Dimension’s previously disclosed share repurchase plan recently commenced, allowing the company to buy back up to $200 million worth of its American Depositary Shares (ADSs) until October 2024.

The repurchase plan authorizes the repurchase of ADSs, from time to time, in open market transactions, in privately negotiated transactions or in any other legally permissible way, depending on market conditions, share price, trading volume and other factors. Such repurchases will be made in accordance with applicable U.S. securities laws and regulations, including Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended, and applicable Israeli law. The company may repurchase all or a portion of the authorized repurchase amount.

Nano Dimension announced the sale of a second advanced AME system, the DragonFly IV, to a leading Western defense agency, an existing customer, which has requested to remain anonymous. With this purchase, Nano Dimension has partnered with and sold the DragonFly IV to more than 10 national defense organizations.

Nano Dimension filed a patent application relating to INSU 200, a proprietary material, titled “Dielectric Ink Compositions and Uses Thereof” under the Paris Convention Treaty. This material, or consumable as it is otherwise known, is part of the company’s AME product suite, and is the first jettable ink capable of undergoing the commercial reflow process.

It is critical for end-users’ applications, having improved thermal and mechanical properties, specifically the ability to undergo higher temperature and stress. Such advanced properties are necessary for printed applications to meet more demanding specifications in both commercial and defense fields. It will be available to customers in April 2024.

“For three years, I have been stating repeatedly that the news of advancement in material and processes will be the most important indications of breakthroughs in additive manufacturing, comparable to a BioTech company’s clinical testing success, but without the need for government agencies’ approval to validate them,” Yoav Stern, Nano Dimension’s CEO and a member of the Board of Directors, said. “This is one of a few expected achievements being announced today, and we hope for more to come, after years of ongoing R&D investments in AM and AME.”

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