Desktop Metal Granted Motion for an Expedited Trial

Desktop Metal, Inc. announced that at a hearing held in the Delaware Court of Chancery on December 30, 2024, the court granted Desktop Metal’s motion for an expedited trial in the lawsuit Desktop Metal filed on December 16, 2024 against Nano Dimension Ltd. In the lawsuit, Desktop Metal alleged that Nano Dimension has breached its obligation under the merger agreement between Desktop Metal and Nano Dimension to use reasonable best efforts to obtain regulatory approval and close the merger contemplated by the merger agreement as soon as reasonably possible.

The trial is expected to be scheduled for the week of February 24, 2025.

In addition, Desktop Metal announced that on December 31, 2024, it filed a second lawsuit against Nano Dimension, which also named Markforged Holding Corp. as a defendant, in 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 obligation in the merger agreement to not consummate acquisitions that would reasonably be expected to (i) increase, in any material respect, the risk of a governmental entity entering an order prohibiting, or (ii) materially delay, the consummation of the merger.

When it was announced, Desktop Metal did not anticipate that the Markforged Transaction would impact the closing of the merger because all parties anticipated that the merger would close before the Markforged transaction could close. Due to events that occurred after that time, specifically Nano Dimension’s ongoing delays in obtaining Committee on Foreign Investment in the United States approval for the merger, Desktop Metal believes that the consummation of the Markforged transaction would materially increase the risk of a governmental entity preventing or delaying the consummation of the merger. That said, Desktop Metal is seeking an order restraining Nano Dimension and Markforged from closing the Markforged transaction until after the merger has closed.

Sources: Press materials received from the company and additional information gleaned from the company’s website.

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