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Nano Dimension Ltd., an industry leader in Additively Manufactured Electronics (AME) and Micro-Additive Manufacturing (Micro-AM), announced that its board of directors has authorized a one-year share repurchase plan (the “Repurchase Plan”) allowing the Company to invest up to $100 million to repurchase its American Depository Shares (the “ADS”).
The Repurchase Plan authorizes the Company’s management to repurchase ADSs, from time to time, in open market transactions, and/or in privately negotiated transactions or in any other legally permissible ways, depending on market conditions, share price, trading volume and other factors. Such repurchases will be made in accordance with applicable U.S. securities laws and regulations, under the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”), and applicable Israeli law, and are subject to the approval of the Israeli court, which is meant to ensure that the Company has enough resources for the Repurchase Plan without affecting its other on-going obligations and commitments.
The Company may repurchase all or a portion of the authorized repurchase amount. The Repurchase Plan does not obligate the Company to repurchase any specific number of the ADSs and may be suspended or terminated at any time at management’s discretion.