Home / Electronics / Nano Dimension Closes $12M Public Offering of American Depositary Shares

Nano Dimension Closes $12M Public Offering of American Depositary Shares

Nano Dimension Ltd, a leading additive electronics provider (NASDAQ, TASE: NNDM) closed its previously announced underwritten public offering of 6,000,000 American Depositary Shares (ADSs) at a price of $2 per ADS. In addition, Nano Dimension has granted the underwriters a 45-day over-allotment option to purchase up to 900,000 additional ADSs at the public offering price. All the ADSs are being offered by the Company. The two Co-Chairmen of the Board of the Company participated in the offering.

National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NasdaqCM:NHLD) acted as sole book running manager for the offering. Lake Street Capital Markets acted as co-manager for the offering. The gross proceeds from the offering, excluding the exercise of the over-allotment option, were approximately $12,000,000, excluding underwriting discounts and commissions and other offering-related expenses.

Nano Dimension intends to use the proceeds of this offering for general corporate purposes, including scaling sales and marketing globally, expanding channel reach and presence and potentially extending the product line. Nano Dimension stocks are down by around 30% since the beginning of 2018, but sales of the company’s unique Dragonfly 2020 Pro 3D printer for electronics are gradually increasing as the company works to establish its business on a global scale.

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