Nano Dimension Statement Regarding Desktop Metal Bankruptcy and Strategic Decision Not to Acquire Assets
The decision to file for bankruptcy protection was made by Desktop Metal's independent Board of Directors, who conducted a process to explore available strategic alternatives and address Desktop Metal's significant liabilities and liquidity needs stemming from decisions made by its prior management.
Ofir Baharav, Nano Dimension's CEO said: 'We are safeguarding our financial strength and preserving our position as the best capitalized company in our ecosystem. This is what enables the Company's to pursue strategic opportunities from a position of maximum strength—and that is exactly what the Company's shareholders should expect from us.'
About Nano Dimension
Driven by strong trends in onshoring, national security, and increasing product customization, Nano Dimension (Nasdaq: NNDM) delivers advanced Digital Manufacturing technologies to the defense, aerospace, automotive, electronics, and medical devices industries, enabling rapid deployment of high-mix, low-volume production with IP security and sustainable manufacturing practices.
For more information, please visit https://www.nano-di.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding Nano's future growth, strategic plan and value to shareholders, and all other statements other than statements of historical fact that address activities, events or developments that Nano intends, expects, projects, believes or anticipates will or may occur in the future. Such statements are based on management's beliefs and assumptions made based on information currently available to management. These forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Because such statements deal with future events and are based on the current expectations of Nano, they are subject to various risks and uncertainties. The forward-looking statements contained or implied in this communication are subject to other risks and uncertainties, including those discussed under the heading 'Risk Factors' in Nano's annual report on Form 20-F filed with the Securities and Exchange Commission (the 'SEC') on May 12, 2025, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano 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 communication.
Investors: ICR – [email protected]
Media: [email protected]
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Ahmedabad Plane Crash
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
an hour ago
- Business Insider
Trump Fires Labor Stats Chief after July Jobs Miss and Revisions Hit Market
President Donald Trump removed Bureau of Labor Statistics Commissioner (BLS) Erika McEntarfer on Friday, after the agency reported July job growth came in far below forecasts. The BLS posted an increase of 73,000 nonfarm payrolls for the month, missing expectations and triggering a sharp market reaction. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. The president announced the decision on Truth Social. He claimed the commissioner, appointed in 2024 under President Joe Biden, had produced flawed data. Trump alleged the report was manipulated to harm the economy's perceived strength. However, no official evidence supports this claim. Until a replacement is confirmed, Deputy Commissioner William Wiatrowski will serve as acting head of the agency. Powell in Trump's Crosshairs In the same post, Trump criticized Federal Reserve Chair Jerome Powell. He called for Powell's removal, citing interest rate decisions that, in his view, counteracted the broader economic policy. On Wednesday, the Federal Open Market Committee voted to hold the benchmark rate steady. Markets have now priced in a strong chance of a rate cut in September. The BLS also revised May and June job totals lower by a combined 258,000. That brought the three-month average to 35,000, the weakest stretch since April 2020. Economists note revisions are standard and reflect updated data, not political bias. Markets moved lower after the release. The Dow Jones Industrial Average (DJIA) fell over 500 points. The Nasdaq dropped more than 2%. Treasury yields declined as traders adjusted rate expectations. Data Integrity in Focus Critics of the decision include William Beach, a 2017 Trump appointee and former BLS chief. He said the move threatens the agency's independence and the reliability of federal data. Multiple public sector groups have raised similar concerns. The Bureau of Labor Statistics is part of the Department of Labor and provides key reports on jobs, inflation, and productivity. Its data is used by investors, businesses, and policymakers. The White House has promoted prior reports as signs of labor strength. Following the June numbers, it called the figures a 'June Boom.' Trump has frequently highlighted payroll gains while in office. The latest report, along with the firing, raises new focus on how economic data is produced and viewed during the 2025 election cycle.
Business Insider
an hour ago
- Business Insider
‘Great Expectations,' Says Top Investor About Palantir Stock
The weight of expectations can be a heavy burden to bear. It's not clear if Palantir Technologies (NASDAQ:PLTR) has gotten this memo. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Indeed, the company has been on quite a roll, and doesn't seem to be showing any signs of slowing down. Another major boost came just last week, as Palantir and the U.S. army agreed on a deal that could be worth up to $10 billion over the coming decade. Reflecting this strong performance, PLTR's share price is up over 540% for the past twelve months. Expectations are high once more as the company gears up to release its Q2 2025 numbers on Monday, August 4 after the market closes. The market is expecting Palantir to report $939.47 million in sales (Palantir itself has guided for $934 to $938 million), numbers which would represent year-over-year growth approaching 40%. Will the company outpace projections yet again? One top investor known as Deep Value Investing believes the rip-roaring Palantir will succeed in doing so. However, the 5-star investor offers a word of caution going forward. 'Even though revenue could have a big upside from this contract, there is a risk of disappointment from a margin perspective,' explains Deep Value, who is among the top 4% of TipRanks' stock pros. The investor further explains that despite Palantir's incredible run, it's not all sunshine and rainbows. For instance, the company is struggling to propel commercial adoption outside of the U.S. – '[Palantir CEO Alex] Karp doesn't have much hope in Europe (from a commercial perspective).' When it comes to the rate of commercial growth in the U.S., this has indeed been astounding (71% year-over-year during Q1 2025). However, the so-called 'total contract value' from this segment is $810 million, which the investor acknowledges pales in comparison to the very high price-to-earnings ratio of 687x that the company is trading at. Though the U.S. army deal is clearly a big win – and provides the 'ultimate confirmation' of Palantir's technology – Deep Value worries that the agreement could decrease the company's margins. 'While these contracts will support the revenue growth, currently in the mid-40s for the government segment, they will most likely pressure profitability,' Deep Value adds. All that being said, the investor remains bullish on Palantir on the eve of the company's Q2 earnings report. Deep Value will be eager to understand how quickly the $10 billion deal will translate into revenues, while also keeping a watchful eye on operating income guidance for the remainder of the year. Summing it all up, Deep Value Investing is assigning a Buy rating for Palantir. (To watch Deep Value Investing's track record, click here) Wall Street is not quite as bullish. With 10 Hold ratings far outpacing 4 Buys and 3 Sells, which give PLTR a consensus Hold (i.e. Neutral) rating. PLTR's 12-month average price target of $111.14 has a downside of ~28%. (See PLTR stock forecast) To find good ideas for AI stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
Miami Herald
an hour ago
- Miami Herald
140-year-old college, forced to close after Chapter 7 bankruptcy
Bacone College, a 140-year-old Native-serving institution in Oklahoma, has been shut down and ordered into Chapter 7 liquidation after a judge cited mismanagement and financial collapse. The school had filed for Chapter 11 bankruptcy in 2024, but now faces total closure. Many colleges have a deep history and connection to their community, but Bacone's ran deeper than most. Bacone College, formerly the Indian University, "was founded in 1880 to educate Indian Students," according to its website. The school played a very important role in its early years. "At the height of Indian Removal the Muscogee (Creek) Nation donated land to eh American Baptist Church and namely the American Baptist Home Mission Societies (ABHMS) to establish Bacone College," it continued. Bacone Collegel gave a current mission statement on its website. "As a historic American Indian-serving institution, Bacone College provides a quality, holistic, liberal arts, educational experience for students in a culturally diverse environment, empowering life-long learners with the knowledge, skills, and capacity to be transformational leaders in both Native and non-native communities," it shared. Things began to fall apart for Bacone around a year ago. "On June 27, 2024, the Higher Learning Commission (HLC) acted to withdraw the accreditation of Bacone College in Muskogee, Oklahoma," the school shared on its website. Bacone College filed for Chapter 11 bankruptcy around when it lost its accreditation. The school has remained open for existing students, but has not been taking new admissions. U.S. bankruptcy trustee Ilene Lashinsky, filed a motion in June citing "gross mismanagement" including a disputed payment of approximately $16,500 on a loan in Acting President Leslie Hannah's name, alleging that the funds had been misused. In the filing,. Lashinsky asked for the Chapter 11 bankruptcy to be converted into a Chapter 7 bankruptcy filing. "The U.S. Trustee submits that the appropriate action in this instance is conversionto a Chapter 7 case. This case is stagnant and the Debtor's only hope is that an investor may come in and purchase the real estate assets of the Debtor. This is the best option for creditors to get paid. And a Chapter 7 trustee is fully capable of managing and negotiating that transaction on behalf of Debtor's estate," the filing read. In May, a federal judge agreed that the case be converted to a Chapter 7 case, citing "gross mismanagement' by college officials, one of whom the trustee alleged used the institution's bank account to pay his personal expenses. In late May, Bacone College was ordered to turn over access to the campus so it can be liquidated. All educational operations ended at that time. Bacone has been failing for some time: In fall 2023, Bacone had just 106 students, less than half the number of just five years earlier and a fraction of the 1,184 students the college enrolled in 2010, according to date from sought tribal college status, which would have made it eligible for additional federal funding. The Osage Nation and Cheyenne, Arapaho, Kiowa and Otoe-Missouria tribes agreed to charter it, but the college never won tribal college status from the federal government. June 2024: Bacone College in Muskogee, Oklahoma filed for Chapter 11 bankruptcy, seeking to reorganize and continue operations while addressing mounting debts June 2025: A U.S. bankruptcy trustee, Ilene Lashinsky, filed a motion citing "gross mismanagement"-including a disputed payment of approximately $16,500 on a loan in Acting President Leslie Hannah's name with allegations of misuse of college funds Mid‑May 2025: A federal judge granted the trustee's motion and converted the case from Chapter 11 (reorganization) to Chapter 7 (liquidation), triggering a managed wind‑down of the college's 21, 2025: Bacone College was ordered to turn over all keys and physical control of the campus immediately to the bankruptcy trustee-effectively ending any remaining institutional operations Related: Popular shoe brand files Chapter 7 bankruptcy, liquidating The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
