Why Nano Dimension Stock Plummeted Today
Shares of Nano Dimension (NASDAQ: NNDM) have plummeted as much as 10% today after the company priced yet another direct offering. The deal priced at $12.80 per American depositary share (ADS), representing a meaningful discount compared to Friday's closing price of $15.60. As of 12:40 p.m. EST, the stock was down 9%.
Nano Dimension has been regularly conducting direct offerings, raising capital hand over fist. The latest deal is expected to generate proceeds of approximately $500 million before fees and other offering expenses. The industrials company, which specializes in 3D printing for printed circuit boards, plans to use the net proceeds for working capital and general corporate purposes. The previous direct offering was a $332.5 million deal last month.
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Source Fool.com
