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WALTHAM, MASSACHUSETTS - Nano Dimension Ltd. (NASDAQ:NNDM), a digital manufacturing company with a market capitalization of $326 million, has appointed Andy Sriubas and Eileen Tanghal to its Board of Directors as the company transitions from merger and acquisition integration to scaling its unified technology platform. According to InvestingPro data, the company maintains a strong financial position with a current ratio of 25.6 and minimal debt relative to equity.
Sriubas, a former chief commercial officer at OUTFRONT Media, brings experience in digital transformation and strategic partnerships, along with over two decades as an investment banker with firms including JPMorgan and UBS. He holds a finance degree from Boston College and professional certificates from Stanford Law School, MIT xPro, and MIT Sloan School of Management.
Tanghal, co-founder and general partner at venture capital firm Black Opal Ventures, previously served as a partner at In-Q-Tel and held executive positions at ARM and Applied Materials Ventures. She earned an MBA from the London Business School and a bachelor’s degree in electrical engineering and computer science from MIT.
"With our digital manufacturing platform now aligned and abundant opportunities in front of us, Andy and Eileen bring forward-thinking leadership and operational experience," said Ofir Baharav, CEO of Nano Dimension, according to the company’s press release.
Bob Pons, chairman of the board, stated that the new directors add "strategic foresight and real-world operating acumen" as the company works to solidify its position in digital manufacturing.
Nano Dimension provides digital manufacturing technologies to various industries including defense, aerospace, automotive, electronics, and medical devices, focusing on high-mix, low-volume production with IP security. The company generated revenues of $57.8 million in the last twelve months, maintaining a healthy gross margin of 46%. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available through their comprehensive Pro Research Report, part of their coverage of over 1,400 US equities.
The appointments come as the company shifts its focus from acquisitions to commercialization and growth in the digital manufacturing market, according to the company statement. While the stock has experienced a significant decline of 37% over the past six months, InvestingPro identifies several positive factors, including the company’s strong balance sheet and attractive price-to-book ratio of 0.38, suggesting potential value opportunity for investors seeking exposure to the digital manufacturing sector.
In other recent news, Markforged Holding Corporation reported a decline in revenue for the fourth quarter of 2024, totaling $22.4 million compared to $24.2 million in the previous year. Despite the revenue drop, Markforged narrowed its net loss to $11.9 million from $14.2 million in the same period in 2023. Meanwhile, Nano Dimension Ltd. has appointed Ofir Baharav as its new CEO to enhance growth following its merger with Desktop Metal and the anticipated integration with Markforged. Desktop Metal, a subsidiary of Nano Dimension, is exploring strategic alternatives to address financial challenges, with Piper Sandler & Co. and FTI Consulting, Inc. advising on the process.
A Delaware Court of Chancery ruling recently ordered Nano Dimension to complete its merger with Desktop Metal, finding that Nano Dimension had breached the Merger Agreement. The court mandated Nano Dimension to execute a national security agreement with the Committee on Foreign Investment in the United States, marking a significant step toward finalizing the merger. Desktop Metal expressed readiness to advance the merger, which could enhance its market position by integrating Nano Dimension’s technology. Additionally, the leadership transition at Nano Dimension includes Robert Pons as the new Chairman, with strategic changes aimed at improving financial outcomes and market penetration. Investors are closely watching these developments for potential impacts on the companies involved.
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