Nano Dimension (NASDAQ: NNDM) stock surged on Wednesday. The corporate’s share price closed out the day by day session up 16.7%, based on data from S&P Global Market Intelligence.
Before the market opened this morning, Nano Dimension published preliminary second-quarter results that got here in ahead of Wall Street’s expectations. The 3D-printing specialist also announced it’s poised to amass one other player within the additive manufacturing space.
Nano Dimension’s preliminary Q2 report shows sequential growth
With its preliminary Q2 earnings release, Nano Dimension reported unaudited revenue of $14.8 million for the period. While the figure got here in only barely above the $14.74 million in sales it posted in Q2 2023, it represented an 11% sequential increase from its sales on this 12 months’s first quarter. The sequential sales uptick suggests Nano has either landed a recent customer or one other significant purchase from an existing client, and investors are bullish on the news.
Nano Dimension has secured flexible terms for its recent acquisition
At the side of its preliminary Q2 release, Nano Dimension also announced it’s poised to amass Desktop Metal in an all-cash transaction deal valued at as much as $5.50 per share — or $183 million. If the deal were to undergo on the valuation level, it will represent a 27.3% premium paid based on Desktop Metal’s previous closing price. But it surely looks just like the pending transaction has favorable leeway baked in for Nano Dimension.
As per Nano Dimension’s recent announcements, it could wind up paying as little as $4.07 per share, or $135 million, within the event that closing costs are higher than anticipated or the completion of the deal extends into 2025. Nano Dimension would still should cover additional costs related to the closing of the deal and credit prolonged to Desktop Metal, however the terms appear to supply helpful flexibility in relation to expenses and completion timing.
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Keith Noonan has no position in any of the stocks mentioned. The Motley Idiot has no position in any of the stocks mentioned. The Motley Idiot has a disclosure policy.
Why Nano Dimension Stock Soared Today was originally published by The Motley Idiot