Why Nano Dimension Stock Plunged Today
Shares of Nano Dimension (NASDAQ: NNDM) have plunged today, down by 26% as of noon EST, after the company priced a direct offering. The price was well below yesterday's closing price.
The 3D-printing technology company priced a direct offering of 25 million American depository shares (ADSs) at $4 per ADS, representing a discount of over 30% to yesterday's closing price of $5.86. The deal will raise $100 million in gross proceeds for Nano Dimension before fees and other expenses related to the offering are factored in.