Nano Dimension chairman issues video message to Stratasys shareholders

Nano Dimension (NNDM) released a video in which Yoav Stern, Chairman and CEO of the Company, addresses Stratasys Ltd. (SYSS) shareholders, highlighting the advantages of its special tender offer over Stratasys’ merger with Desktop Metal (DM) and the unsolicited proposal from 3D Systems Corp. (DDD). The company said, “In the video, Mr. Stern reiterates the following compelling points regarding Nano Dimension’s special tender offer: Nano offers the certainty of cash versus uncertainty of dilution. Nano’s $18.00 per share special tender offer delivers certain, near-term premium and all-cash value to Stratasys shareholders. Nano’s offer provides more certainty than the Desktop Metal merger or the 3D Systems unsolicited proposal. With approximately $1 billion in cash and cash equivalents, Nano has the financial capacity to complete the special tender offer, which is not subject to Nano shareholders’ approval. Nano has a clear vision and path to establish a market leader in Additive Manufacturing and deliver strong bottom-line results for shareholders. Nano will focus on gross margins, EBITDA and earnings-per-share profitability to create lasting value for Stratasys’ shareholders. In contrast, Stratasys management continues to make empty promises of becoming “a billion-dollar company,” only to deliver further cash burn and value destruction. Change within Stratasys is needed NOW. Stratasys needs better leadership, operators and decision-makers that will optimize the business to realize its potential. Nano has demanded that the Stratasys Board call an Extraordinary General Meeting for the purpose of removing a majority of the Stratasys Board of Directors and replacing them with highly qualified nominees proposed by Nano. Nano believes such action is vital to prevent further value destruction.”