Markforged completes merger with Nano Dimension

WALTHAM, MA - Markforged Holding Corp (NYSE:MKFG), a leader in the additive manufacturing industry with annual revenues of $85 million, has finalized its merger with Nano Dimension Ltd (NASDAQ:NNDM)., an electronics 3D printing company. The transaction, which was completed on Monday, results in Markforged becoming a wholly owned subsidiary of Nano Dimension.

As part of the merger agreement, each share of Markforged common stock has been converted into the right to receive $5.00 in cash, excluding shares held by the company as treasury stock, by Nano Dimension or by stockholders who have perfected their statutory rights of appraisal. According to InvestingPro data, this deal values Markforged at a market capitalization of approximately $98 million. Options and warrants for Markforged’s common stock have been adjusted accordingly, with in-the-money options being cancelled and replaced with cash considerations, while out-of-the-money options were cancelled without consideration.

In connection with the merger, Markforged notified the New York Stock Exchange of the completion and requested the suspension of trading and delisting of its common stock. The company will also deregister the common stock and suspend its reporting obligations under the Securities Exchange Act.

The merger has brought changes to Markforged’s board of directors and executive team. Assaf Zipori resigned as Chief Financial Officer, Treasurer, and Secretary to pursue other opportunities, with no disagreements reported regarding company operations, policies, or practices. Additionally, all members of the Markforged board resigned as of the effective time of the merger, with Nano Dimension’s representatives assuming control.

The company’s certificate of incorporation and bylaws were also amended and restated as part of the merger agreement.

This strategic move combines Markforged’s expertise in additive manufacturing with Nano Dimension’s advanced 3D printing technologies for electronics, aiming to enhance their offerings in the 3D printing industry. InvestingPro analysis shows Markforged maintained impressive gross profit margins of 48% and a healthy current ratio of 2.48, suggesting strong operational efficiency despite challenging market conditions. For deeper insights into company valuations and performance metrics, investors can access comprehensive Pro Research Reports covering 1,400+ US stocks through InvestingPro.

The details of the merger were outlined in a press release statement filed with the Securities and Exchange Commission.

In other recent news, Nano Dimension has completed its acquisition of Markforged Holding Corporation, valued at $116 million. This strategic move enhances Nano Dimension’s capabilities in metal and composite manufacturing solutions, aligning with its goal to become a leader in digital manufacturing. Markforged reported over $85 million in annual revenue in 2024, with non-GAAP gross margins around 50%, which Nano Dimension aims to leverage. As part of the merger, Assaf Zipori has been appointed as the CFO of the combined entity. Meanwhile, Cantor Fitzgerald has maintained a Neutral rating on Markforged, with a price target of $5.00, citing challenges in the hardware sales sector due to the broader economic climate. The firm projects a 9% sequential revenue increase for Markforged, despite an 8% year-over-year decline. Additionally, Markforged announced the upcoming departure of its General Counsel, Stephen Karp, effective March 3, 2025. This personnel change is not due to any disagreements with the company’s operations or policies.

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