Desktop Metal (NYSE:DM) stock is in the news Wednesday after the additive manufacturing technologies company announced an acquisition deal with Nano Dimension (NASDAQ:NNDM).
Desktop Metal has agreed to be acquired by Nano Dimension in a cash offer for shares of DM stock. This has Nano Dimension agreeing to pay $5.50 per share, with the possibility of the offer being adjusted downward to $4.07 per share.
At the $5.50 price, Nano Dimension will pay $183 million for Desktop Metal. If the offer is dropped to the $4.07 offer, the price of the deal comes to $135 million.
Desktop Metal co-founder and CEO Ric Fulop said the following about the deal:
“We’re excited to bring together our pioneering, complementary product portfolios that will further enhance our ability to serve our customers in high-growth industries with a more complete offering of digital manufacturing technologies for metal, electronics, casting, polymer, micro-polymer and ceramics applications.”
DM Stock Acquisition Details
Desktop Metal and Nano Dimension have contingencies set up if the transaction takes too long to close. That includes a $20 million loan facility for Desktop Metal should the deal extend into 2025. This is what could trigger a drop in the price of the acquisition.
Desktop Metal and Nano Dimension still need to complete customary closing conditions before the deal is finalized. That includes approval from shareholders as well as regulators.
DM stock is up 10.9%, and NNDM is up 15.8% as of Wednesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
