NNDM - Desktop Metal adopts shareholder rights plan

2023-05-30 08:51:20 ET

• Desktop Metal ( NYSE: DM ) adopted a limited duration shareholder rights plan amid an agreement Thursday to combine with Stratasys ( SSYS ) in an all stock deal.
• The holder rights plan is scheduled to expire on the earlier of July 24, 2024, or the effective date of the merger it announced with Stratasys ( SSYS ), according to a statement on Tuesday. The rights plan will not prevent any person from making a superior proposal pursuant to the terms of the merger agreement.
• The "poison pill" will go into effect if a person or group acquires 15% or more of the company's common stock or announces a tender offer that would result in such ownership.
• Earlier Tuesday, the Stratasys board rejected Nano Dimension's ( NNDM ) partial tender offe

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