Markforged Holding Corporation ( MKFG/WS ) and Nano Dimension Ltd. ( NNDM ) shares jumped on Wednesday after the companies disclosed an acquisition deal.

As per the deal, Nano Dimension ( NNDM ) will acquire all outstanding shares of Markforged ( MKFG/WS ) in an all-cash deal at $5.00 per share. The aggregate total consideration payable to Markforged’s shareholders is $115 million. 

This represents a 71.8% premium to Markforged’s volume-weighted average price (VWAP) on September 24, 2024, and a 67.8% premium to its 90-day VWAP as of the same date.

Following the closing, the combined company, including both Desktop Metal and Markforged ( MKFG/WS ), is expected to have a strong balance sheet with total cash and cash equivalents, including marketable securities, projected at $475 million.

Yoav Stern, Chief Executive Officer and member of the board of directors of Nano Dimension ( NNDM ) said, “Markforged is an exceptional company with innovative AM materials and solutions for true production. Their prowess is validated by their more than fifteen thousand installed and connected systems in the field with many leading names across key industry verticals.”

”This is all the more substantial when we think about the anticipated closing of our deal with Desktop Metal. We believe the combination of Nano Dimension ( NNDM ), Desktop Metal, and Markforged ( MKFG/WS ) further strengthens our unique opportunity in creating value for our shareholders, customers, and employees as we work to deliver profitable growth, exceptional services, and notable career development opportunities.”

Related: Desktop Metal Sold! Nano Dimension Swoops In All-Cash Offer

The transaction, unanimously approved by the Boards of Directors of both companies, is expected to close in the first quarter of 2025, pending the satisfaction of customary closing conditions.

Nano Dimension ( NNDM ) intends to finance the deal using its cash on hand. As of June-end, Nano Dimension ( NNDM ) held $764 million in cash and equivalents.

Price Action: MKFG shares are up 70.3% at $4.65, and NNDM shares rose 7.69% at $2.38 at the last check Wednesday.

Image via Shutterstock

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