DoD tests AI models that make it easy to switch from vendors like Palantir
Investing.com -- Desktop Metal, Inc. (NYSE: DM) stock surged 70% following a Delaware Court of Chancery ruling that ordered Nano Dimension (NASDAQ:NNDM) to complete the merger process with Desktop Metal. The court’s decision, announced on March 24, found that Nano Dimension had materially breached the Merger Agreement set on July 2, 2024, and rejected Nano’s counterclaims.
The court has mandated Nano Dimension to agree to and execute a national security agreement with the Committee on Foreign Investment in the United States within 48 hours of its order. This agreement represents the last condition to be met before finalizing the merger. Additionally, if the merger is not closed by March 31, 2025, Desktop Metal can extend the end date of the Merger Agreement at its discretion until the merger is completed. The ruling is now subject to immediate appeal to the Delaware Supreme Court, as it constitutes a final judgment on the specific performance claims.
Desktop Metal expressed its intention to move swiftly towards closing the merger while maintaining its commitment to customers, employees, and other stakeholders. The positive market reaction reflects investor confidence in the future prospects of the combined entity, as Desktop Metal prepares to integrate Nano Dimension’s capabilities into its operations.
This latest development marks a significant milestone for Desktop Metal, potentially enabling the company to leverage Nano Dimension’s technology and resources to bolster its market position. As the merger process moves forward, investors are closely monitoring the situation for any further developments that could impact the stock’s trajectory.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.