Delaware Court orders Nano Dimension to complete Desktop Metal merger

Desktop Metal (DM) announced that the Delaware Court of Chancery has ruled in favor of Desktop Metal in its pending litigation against Nano Dimension (NNDM) and Nano US I, Inc. regarding the merger agreement between Desktop Metal and Nano dated July 2, 2024. In its March 24 post-trial opinion and order, the Court found that Nano materially breached the merger agreement, rejected Nano’s counterclaims, and granted Desktop Metal specific performance. The Court ordered that, within 48 hours of its order, Nano must agree to and execute a national security agreement with the Committee on Foreign Investment in the United States, which is the sole remaining condition to closing the merger. The Court further ordered that if the closing has not occurred by March 31, the end date under the merger agreement may be extended, at Desktop Metal’s discretion, until the closing of the merger. The Court’s ruling constitutes a final judgment on the specific performance claims, making it immediately appealable to the Delaware Supreme Court under Court of Chancery Rule 54. Desktop Metal intends to move expeditiously toward closing as soon as possible, while continuing to serve its customers, employees and other stakeholders.