Nano Dimension Stock Rallies After Investors Cheer CEO Transition: Retail Joins The Party
The board appointed Julien Lederman as interim CEO following Yoav Stern's termination as chief executive after he was not re-elected as a director at the company’s 2024 annual general meeting of shareholders on December 6.
FollowDigital manufacturing technology firm Nano Dimension (NNDM) announced on Thursday it has appointed Julien Lederman as the interim CEO of the company. Shares of the firm surged over 6% on Thursday morning following the development.
The appointment follows Yoav Stern's termination as chief executive after he was not re-elected as a director at the company’s 2024 annual general meeting of shareholders on Dec. 6. Stern had been serving as CEO and a member of the board since January 2020.
Lederman, who has served as Vice President of Corporate Development since March 2021, was earlier employed at Amazon.com, Inc., The Goldman Sachs Group, Inc., Lehman Brothers Holdings, Inc., and the World Economic Forum.
Nano Dimension has over 70,000 followers on Stocktwits. Following the interim CEO appointment, retail sentiment flipped into the ‘bullish’ territory (55/100) from ‘bearish’ a day ago.
NNDM’s Sentiment Meter and Message Volume as of 9:44 a.m. ET on Dec. 26, 2024 | Source: Stocktwits
Most retail chatter on Stocktwits resonated with the stockholders’ decision not to re-elect Stern as a director.
The transition comes as Desktop Metal, Inc. (DM) has filed a lawsuit against the company in the Delaware Court of Chancery. The lawsuit alleges 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.”
In July, the companies announced that Nano Dimension would acquire all outstanding shares of Desktop Metal in an all-cash transaction for $5.50 per share, subject to possible downward adjustments to $4.07 per share. In October, Desktop Metal’s stockholders approved the merger agreement.
Meanwhile, Desktop Metal said in a recent statement that the court had scheduled an expedited hearing on Dec. 30, 2024, to hear its motion for an expedited trial to be held in January.
Shares of Nano Dimension have gained over 14% since the beginning of the year.
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