ISS recommends Desktop Metal shareholders vote to support Nano Dimension merger

Nano Dimension (NNDM) and Desktop Metal (DM) jointly announced that Institutional Shareholder Services 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…Notably, the acquirer’s stock price increased by 16.7 percent in response to the announcement…The outperformance against the relevant market index indicates a potential downside risk of non-approval.” DM shareholders should ensure they vote no later than 11:59 pm ET on October 1 by following the instructions provided by their brokers. Most brokers allow shareholders to vote via internet and most shareholders should have received an email containing a link to vote. The Desktop Metal shareholder vote on the deal is one of the major milestones in the process to close the transaction. Nano Dimension shareholders are not required to approve the merger.