Desktop Metal announced that at a hearing held on December 30, 2024 in the Delaware Court of Justice, the court granted Desktop Metal’s request for an expedited trial in the action Desktop Metal filed on December 16, 2024 against Nano Dimension. In the lawsuit, Desktop Metal alleged that Nano Dimension breached its obligation under the merger agreement between Desktop Metal and Nano Dimension to use its best efforts to obtain regulatory approval and to consummate the merger contemplated by the merger agreement as soon as possible.
The trial is expected to be scheduled for the week of February 24, 2025.
In addition, Desktop Metal announced that it had filed a second lawsuit against Nano Dimension on December 31, 2024, also alleging Markforged Holding as a defendant, to the Court of Chancery, alleging that Nano Dimension’s September 2024 agreement to acquire Markforged, if consummated, would constitute a breach of Nano Dimension’s covenant in the merger agreement not to make acquisitions that could reasonably be expected to increase in any material respect, the risk that a governmental authority will issue an order prohibiting the merger or materially delay the consummation of the merger.
At the time the transaction was announced, Desktop Metal did not anticipate that the Markforged transaction would affect the completion of the merger because all parties anticipated that the merger would be completed before the Markforged transaction could be completed. In light of events occurring thereafter, namely the continued delays by Nano Dimension in obtaining approval from the Committee on Foreign Investment in the United States for the merger, Desktop Metal believes that the completion of the Markforged transaction would materially increase the risk that a government entity would prevent completing or delaying the merger. Therefore, Desktop Metal seeks an injunction restraining Nano Dimension and Markforged from completing the transaction with Markforged until the merger is closed.
Source: www.cad.cz
