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Nano Dimension subsidiary Desktop Metal files for Chapter 11 bankruptcy

Nano Dimension (NNDM) announced that its subsidiary, Desktop Metal, has filed for bankruptcy protection under Chapter 11. The company stated the decision was made by Desktop Metal’s independent board of directors after exploring strategic alternatives to address significant liabilities and liquidity needs. Nano Dimension CEO Ofir Baharav commented, “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.”

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