NNDM - Nano Dimension Receives Israeli Court Approval for Its $200 Million Repurchase Plan | Benzinga
The Repurchase Plan Enables Nano to Buy Back its Shares at Compelling Valuation Levels and Drive Shareholder Value
Waltham, Mass., Oct. 19, 2023 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (NASDAQ:NNDM) ("Nano Dimension", "Nano", or the "Company"), a leading supplier of Additively Manufactured Electronics ("AME") and multi-dimensional polymer, metal & ceramic Additive Manufacturing ("AM") 3D printing solutions, today announced that it has received approval from the Israeli Court for its request to implement its previously announced share repurchase plan (the "Repurchase Plan"), allowing the Company to buy back up to $200 million worth of its American Depositary Shares (the "ADS") during the next twelve months.
The Repurchase Plan authorizes the Company's management to repurchase ADSs, from time to time, in open market transactions, in privately negotiated transactions or in any other legally permissible way, depending on market conditions, share price, trading volume and other factors. Such repurchases will be made in accordance with applicable U.S. securities laws and regulations, including Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act"), and applicable Israeli law.
The Company may repurchase all or a portion of the authorized repurchase amount. The Repurchase Plan does not obligate the Company to repurchase any specific number of the ADSs and may be suspended or terminated at any time at management's discretion.
Yoav Stern, Chief Executive Officer and a member of the Board of Directors of Nano Dimension, added: "The Board of Directors continually reviews ...