Nano Dimension (NNDM) and Desktop Metal, Inc. (DM) jointly announced that Institutional Shareholder Services, a leading proxy advisory firm, has recommended that Desktop Metal shareholders vote to support the merger agreement and other deal related proposals. On the major agenda item, “Item 1. Approve Merger Agreement”, ISS wrote: “The sales process suggests the offer is likely the best available at this time, shareholders are receiving a premium, the implied valuation appears fair, and the cash consideration provides liquidity and immediate value. Based on these factors, support FOR the proposed transaction is warranted.” ISS also wrote: “Notably, the acquirer’s stock price increased by 16.7% in response to the announcement…The outperformance against the relevant market index indicates a potential downside risk of non-approval.”
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