Nano Dimension, a dual-listed company, voluntarily delists from the Tel Aviv Stock Exchange
The company’s ADSs continue to trade on the Nasdaq
Boca Raton, Fla., Feb. 20, 2020 (GLOBE NEWSWIRE) — Nano Dimension Ltd. (Nasdaq, TASE: NNDM), a leading supplier of additively manufactured electronics (AME)announced today that it will voluntarily delist its common stock from the Tel Aviv Stock Exchange (TASE).
“It’s a natural step for Nano Dimension. Delisting from TASE will reduce costs and complexity and allow the company to focus on the financial markets where its core trading markets are,” said Yoav Stern, Nano Dimension’s new CEO. “Israeli investors will continue to be served by the company as partners and supporters while their shares trade on the Nasdaq in the form of U.S. depositary stock.”
Under Israeli law and TASE rules, the delisting of Nano Dimension common stock from trading on the TASE will occur at least 90 days from the date of this announcement, which is expected to be on or about May 20, 2020. Nano Dimension will announce the exact date of its TASE delisting when it becomes available.
Nano Dimension’s American Depositary Shares, which represent 50 common shares each, will continue to trade on the Nasdaq Capital Market under the symbol “NNDM”.
Holders of common stock currently traded on the TASE can convert their common stock into ADS through their banks or brokers. The process of converting ordinary shares into ADS involves the deposit of ordinary shares in the Israeli custodial account of The Bank of New York Mellon, the Custodian of our ADS program. Bank of New York Mellon will waive its conversion and issuance fees for all shareholders who convert their common stock through May 29, 2020. After May 29, 2020, each conversion will be charged $0.05 per ADS. Holders of ordinary shares of the Company are encouraged to contact their banks or brokers with any questions regarding the conversion process.
About Nano Dimension
Nano Dimension (Nasdaq, TASE: NNDM) is a supplier of smart machines for manufacturing additively manufactured electronics (AME). High fidelity active electronic and electromechanical subassemblies are an integral part of autonomous smart drones, cars, satellites, smartphones and in vivo medical devices. They require iterative development, IP security, rapid time-to-market, and device performance gains, requiring AME for rapid in-house prototyping and production. Nano Dimension machines address cross-industry needs by simultaneously depositing proprietary consumable conductive and dielectric materials, while simultaneously integrating capacitors, antennas, coils, transformers, and electromechanical components in situ, to operate at unprecedented performance. Nano Dimension bridges the gap between PCBs and semiconductor integrated circuits. A one-click revolution: from CAD to a functional high-performance AME device in hours, only at the cost of consumables. For more information, please visit www.nano-di.com.
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Words such as “expects”, “anticipates”, “intends”, “anticipates”, “believes”, “seeks”, “estimates” and similar expressions or variations of these words are intended identify forward-looking statements. For example, Nano Dimension uses forward-looking statements in this press release when discussing the delisting of its common stock from TASE and the trading of ADSs on the Nasdaq Capital Market. Because these statements address future events and are based on Nano Dimension’s current expectations, they are subject to various risks and uncertainties. The actual results, performance or achievements of Nano Dimension could differ materially from those described or implied by the statements contained in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under “Risk Factors” in Nano Dimension’s Annual Report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 14, 2019, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano Dimension assumes no obligation to publicly release any revisions to these forward-looking statements. to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events.Web site references and links have been provided as a convenience, and the information contained on such web sites is not incorporated by reference in this press release Nano Dimension is not responsible for the content of third-party websites.
NANO DIMENSION INVESTOR RELATIONS CONTACT
Yael Sandler, Chief Financial Officer | [email protected]