Nano Dimension CEO’s Update: Needham & Co. was Engaged for Acquisition Search; ITAR Registration granted, certifying cleara...
23 June 2020 - 10:00PM
Nano Dimension Ltd. (Nasdaq: NNDM), a leading Additively
Manufactured Electronics (AME)/PE (Printed Electronics)
provider, announced today that is has engaged Needham &
Company to advise on acquisitions, mainly in USA, that add
complementary products and technologies within the electronic
industry and expand its distribution channels.
Additionally, the Company announced today that
it has completed its registration with the U.S. State Department’s
Directorate of Defense Trade Controls (DDTC) under the
International Traffic in Arms Regulations (ITAR). DDTC administers
and enforces the ITAR, which regulates the manufacture, export and
transfer of defense-related articles, information and services.
Nano Dimension’s registration with DDTC reflects its commitment to
compliance with all laws and regulations applicable to its global
business, including serving the U.S. defense and aerospace
industries.
“Our registration with DDTC under the ITAR will
allow Nano Dimension to continue to expand our customer base in the
United States. With our ITAR registration, we are positioned to
strengthen our sales and service to the U.S. defense and aerospace
markets, effectively and efficiently,” said Yoav Stern, President
& CEO of Nano Dimension. “No less importantly,” he added, “we
are adjusting our focus to leverage our strong cash position on one
side, and the lull in the markets as a result of prolonged Covid-19
effects. While Wall Street is reacting erratically, Main
Street is on a prolonged slow-down resulting from temporary large
corporate closures, holdbacks on capital spending and similar signs
of temporal financial insecurities. This is an environment
that enables Nano Dimension to make an efficient use of the support
from its shareholders, as manifested by the large cash injections
during April and May 2020. We are now focusing on two goals:
accelerating and advancing R&D and product road map, in
parallel to following sinking valuation of private companies and
looking for acquisition targets at the right price and with the
proper accretive synergies.”
About Nano Dimension
Nano Dimension (Nasdaq: NNDM) is a provider
of intelligent machines for the fabrication of Additively
Manufactured Electronics (AME). High fidelity active electronic and
electromechanical subassemblies are integral enablers of autonomous
intelligent drones, cars, satellites, smartphones, and in
vivo medical devices. They necessitate iterative development, IP
safety, fast time-to-market and device performance gains, thereby
mandating AME for in-house, rapid prototyping
and production. Nano Dimension machines serve cross-industry
needs by depositing proprietary consumable conductive and
dielectric materials simultaneously, while concurrently
integrating in-situ capacitors, antennas, coils, transformers and
electromechanical components, to function at unprecedented
performance. Nano Dimension bridges the gap between PCB and
semiconductor integrated circuits. A revolution at the click of a
button: From CAD to a functional high-performance AME device in
hours, solely at the cost of the consumable materials. For
more information, please visit www.nano-di.com.
Forward-Looking Statements
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,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, Nano Dimension is using
forward-looking statements in this press release when it discusses
a search for potential acquisition targets, serving the U.S.
defense and aerospace industries, continuing to expand customer
base in the United States, being positioned to strengthen sales and
service to the U.S. defense and aerospace markets, adjusting the
Company’s focus to leverage its strong cash position on one side,
and the lull in the markets as a result of prolonged Covid-19
effects, and focusing on two goals: accelerating and advancing
R&D and product road map, in parallel to following sinking
valuation of private companies and looking for acquisition targets.
Because such statements deal with future events and are based on
Nano Dimension's current expectations, they are subject to various
risks and uncertainties. Actual results, performance or
achievements of Nano Dimension could differ materially from those
described in or implied by the statements 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 the heading “Risk Factors” in Nano
Dimension’s annual report on Form 20-F filed with the Securities
and Exchange Commission (“SEC”) on March 10, 2020, and in any
subsequent filings with the SEC. Except as otherwise required by
law, Nano Dimension undertakes 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 unanticipated events. References and links to websites have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.
Nano Dimension is not responsible for the contents of third-party
websites.
NANO DIMENSION INVESTOR RELATIONS
CONTACT
Yael Sandler, CFO | ir@nano-di.com
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