Nano Dimension expands on intentions on regarding Stratasys board changes

Nano Dimension (NNDM), which owns approximately 14.1% of Stratasys’ (SSYS), expanded on its intentions regarding the composition of the Stratasys board of directors. The company said, “Nano Dimension, by necessity, is acting with urgency to initiate the replacement of Stratasys’ directors in the interest of all shareholders. As a result, Nano nominated seven highly qualified directors with extensive track records of value creation. As Nano has detailed previously, all of its nominees have previously served as CEOs or in “C-suite” positions, through which they have created demonstrable increases in long-term shareholder value. Almost all of Nano’s candidates have multiple decades of global business experience in technology, finance, M&A and operations in manufacturing and related sectors. While Nano had asked the court to allow Stratasys shareholders to pick and choose across nominees from both companies, Stratasys has chosen to take that option away from its shareholders, forcing its shareholders to select a full slate. Nano fully recognizes that the Board should be comprised of a majority of independent directors and, following a successful replacement of the current Stratasys’ directors with Nano’s director nominees, intends to take steps to appoint independent directors to represent Stratasys shareholders’ interests for the long term, at which time Nano Dimension’s nominees would cycle off the Board such that a majority of the Board would be independent over time. Nano Dimension’s director nominees are intended as an interim but urgently needed solution to prevent further value destruction by the current Stratasys Board. Nano Dimension urges Stratasys shareholders to vote “FOR” the nominees proposed by Nano Dimension at Stratasys’ Annual General Meeting to be held on August 8th, 2023, in order to replace the majority of the current Stratasys Board.”