Shares of Nano Dimension (NNDM) jumped 11.18 % to settle at $9.55. NNDM stock traded 30.84% away from the simple moving average of 20 days. In comparison to the 277.47% annual results, the weekly performance of the company was 5.18 %. The technology industry giant has a record of 68 employees on its payroll with a market capitalisation of 1.32B.
Nano Dimension (NNDM), has reported that the previously reported registered direct offer of 33,333,334 American Depositary Shares (ADS) of the Firm has been closed at a price of $7.50 per ADS. Before deducting placement agent costs and other sale expenditures, the total proceeds of the offering were roughly $250 million.
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The Corporation plans to make use of net proceeds for working capital, other general corporate purposes and to explore strategic acquisitions, including future deals involving a business merger.ThinkEquity, a Fordham Financial Management, Inc. subsidiary, has served as the exclusive placement agent for the sale.
Previously, on 29 December 2020, Nano Dimension Ltd. (Nasdaq: NNDM) reported that it had sold the DragonFly LDM framework for the additive manufacturing of high-performance electronic devices (Hi-PEDs) to the Pacific Rim Academy of Engineering Physics.
DragonFly LDM is the first technology to quickly manufacture high-performance multi-layered electronic components using digital files and 3D simultaneous printing of dielectric and conductive material. A major academic company focusing on research in plasma physics, materials science, chemical engineering, and material chemistry is the current client.
In a large variety of sectors, including university and scientific universities, defence, aerospace, automated vehicle, robotics, and biotech, the DragonFly LDM device is being implemented. Industry and research institutions will now be able to perform on-site prototyping within just a few days, instead of weeks; build goods with greater performance; minimize the size and weight of electronic modules and components; secure strategically sensitive intellectual property; and implement innovations.