Desktop Metal files lawsuit against Nano Dimension for breach of merger pact

Desktop Metal (DM) that it has filed a lawsuit against Nano Dimension Ltd. (NNDM) in the Delaware Court of Chancery, alleging that Nano Dimension has breached its obligation to use reasonable best efforts to obtain regulatory approval as soon as practicable in connection with the merger agreement between the parties. The Court has scheduled an expedited hearing on December 30, 2024, to hear Desktop Metal’s motion for an expedited trial to be held in January. Desktop Metal seeks specific performance, including, but not limited to, requiring Nano Dimension to cooperate in seeking approval by the Committee on Foreign Investment in the United States, including finalizing negotiations and executing the mitigation agreement proposed by CFIUS, and to close the merger within five business days of receiving CFIUS’ approval. Desktop Metal also seeks a declaration of the Court that, among other things, Nano Dimension has failed to perform its obligations to use reasonable best efforts to obtain regulatory approval and remains obligated to use its reasonable best efforts to take all actions necessary to consummate the merger as soon as reasonably possible, and injunctive relief enjoining Nano Dimension from terminating the Merger Agreement or taking any action inconsistent with its obligations under the Merger Agreement.