Desktop Metal Inc is a pioneering company that specializes in providing advanced manufacturing solutions through the use of 3D printing technology
Focused on metal additive manufacturing, the company develops innovative systems and materials that enable the efficient production of complex metal parts across a range of industries, including aerospace, automotive, and healthcare. With a commitment to accelerating the adoption of 3D printing, Desktop Metal aims to enhance manufacturing processes by offering more sustainable and cost-effective alternatives to traditional manufacturing methods, thereby enabling businesses to innovate and optimize their production capabilities.
Shares of 3D printing company Desktop Metal (NYSE:DM) jumped 115% in the pre-market session after a court ruled in its favor in its litigation against Nano Dimension relating to the pending merger between both companies.
Desktop Metal, Inc. (NYSE: DM) (“Desktop Metal”) today announced that the Delaware Court of Chancery has ruled in favor of Desktop Metal in its pending litigation against Nano Dimension Ltd. and Nano US I, Inc. (together, “Nano”) regarding the merger agreement between Desktop Metal and Nano dated July 2, 2024 (the “Merger Agreement”). In its March 24 post-trial opinion and order, the Court found that Nano materially breached the Merger Agreement, rejected Nano’s counterclaims, and granted Desktop Metal specific performance. The Court ordered that, within 48 hours of its order, Nano must agree to and execute a national security agreement with the Committee on Foreign Investment in the United States, which is the sole remaining condition to closing the merger. The Court further ordered that if the closing has not occurred by March 31, 2025, the end date under the Merger Agreement may be extended, at Desktop Metal’s discretion, until the closing of the merger. The Court’s ruling constitutes a final judgment on the specific performance claims, making it immediately appealable to the Delaware Supreme Court under Court of Chancery Rule 54(b).
What a brutal six months it’s been for Desktop Metal. The stock has dropped 46.3% and now trades at $2.42, rattling many shareholders. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
Even if they go mostly unnoticed, industrial businesses are the backbone of our country. Still, their generally high capital requirements expose them to the ups and downs of economic cycles, and the market seems to be baking in a prolonged downturn
as the industry has shed 6% over the past six months. This drawdown was disappointing since the S&P 500 stood firm.
Desktop Metal, Inc. (NYSE: DM) (“Desktop Metal”) today announced that the Delaware Court of Chancery has set trial dates of March 11-12, 2025 in Desktop Metal’s pending litigation against Nano Dimension Ltd. (“Nano Dimension”) regarding the merger agreement between the parties dated July 2, 2024 (the “Merger Agreement”). The Court granted Desktop Metal’s motion to expedite proceedings at a hearing in December 2024, finding that expedition was warranted to address Desktop Metal’s claims under the Merger Agreement.
Desktop Metal has gotten torched over the last six months - since August 2024, its stock price has dropped 36.3% to $2.62 per share. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Desktop Metal (NYSE:DM) and the rest of the custom parts manufacturing stocks fared in Q2.
Desktop Metal stock is trading higher on Friday after the company announced that the Delaware Court of Chancery granted the company's motion for an expedited trial in its lawsuit against Nano Dimension.
Desktop Metal, Inc. (NYSE: DM) (“Desktop Metal”) today announced that at a hearing held in the Delaware Court of Chancery on December 30, 2024, the Court granted Desktop Metal’s motion for an expedited trial in the lawsuit Desktop Metal filed on December 16, 2024 against Nano Dimension Ltd. (“Nano Dimension”). In the lawsuit, Desktop Metal alleged that Nano Dimension has breached its obligation under the merger agreement between Desktop Metal and Nano Dimension (the “Merger Agreement”) to use reasonable best efforts to obtain regulatory approval and close the merger contemplated by the Merger Agreement (the “Merger”) as soon as reasonably possible. The trial is expected to be scheduled for the week of February 24, 2025.
Desktop Metal, Inc. (NYSE: DM) (“Desktop Metal”) today announced that it has filed a lawsuit against Nano Dimension Ltd. (“Nano Dimension”) in the Delaware Court of Chancery (the “Court”), alleging that Nano Dimension has breached its obligation to use reasonable best efforts to obtain regulatory approval as soon as practicable in connection with the merger agreement between the parties (the “Merger Agreement”). The Court has scheduled an expedited hearing on December 30, 2024, to hear Desktop Metal’s motion for an expedited trial to be held in January.
As the Q2 earnings season wraps, let’s dig into this quarter’s best and worst performers in the custom parts manufacturing industry, including Desktop Metal (NYSE:DM) and its peers.
Wrapping up Q1 earnings, we look at the numbers and key takeaways for the custom parts manufacturing stocks, including 3D Systems (NYSE:DDD) and its peers.
Let’s dig into the relative performance of Stratasys (NASDAQ:SSYS) and its peers as we unravel the now-completed Q2 custom parts manufacturing earnings season.
Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano Dimension”) and Desktop Metal, Inc. (NYSE: DM) (“Desktop Metal” or “DM”) today jointly announced that, at a special meeting, Desktop Metal stockholders approved the merger agreement pursuant to which Desktop Metal would be acquired by Nano Dimension.
