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3D printing stocks, Q4 2024: Nano Dimension removes the people who ran the deals

Nozzle4 · · 1 min read

The fourth quarter of 2024 closed the circle on the fight that had been running at Nano Dimension all year, and the timing was remarkable. The company had spent the third quarter agreeing to buy Desktop Metal and Markforged. It spent the fourth quarter removing the leadership that struck those deals.

Two things landed close together. On 21 November an Israeli court validated the results of a Murchinson-convened shareholder meeting from back in March 2023, a ruling that installed Murchinson’s nominees on the board. Then at the annual general meeting in December, more Murchinson-backed directors were elected and chief executive Yoav Stern failed to win reappointment to the board. On 17 December six directors resigned with immediate effect in light of the court ruling, Stern’s tenure as CEO was terminated, and Julien Lederman stepped in as interim chief executive.

So the acquirer changed hands at the top in the same quarter its acquisitions were still being finalised. The people who decided to spend Nano’s cash on Desktop Metal and Markforged were gone before those deals fully closed, replaced by the activist camp that had spent two years arguing the cash should have been handled differently. That set up an obvious question for 2025: would the new board honour, renegotiate, or unwind what the old one had signed.

The answer, which involved a lawsuit and a partial reversal, is the 2025 story. The buying spree that triggered all this is Q3 2024. Current prices are on our stocks page.

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