No change in ADSs, as a result of a concurrent change in ADS ratio

Boca Raton, Florida, June 16, 2020 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (NNDM), a leading Additively Manufactured Electronics (AME)/PE (Printed Electronics) provider, announced today that following the approval of its shareholders on April 16, 2020, its Board of Directors has approved a 1-for-50 reverse split of the Company’s share capital. The implementation of the reverse split will result in the reduction of the number of authorized shares from 2,500,000,000 to 50,000,000 ordinary shares in accordance with the exchange ratio (1:50), as well as a proportionate reduction in the issued and outstanding ordinary shares, and the increase of the par value per ordinary share from NIS 0.10 to NIS 5.00 per ordinary share.

Concurrently with the reverse split, the Company will effect a corresponding change in the ratio of ordinary shares to each of the Company’s American Depositary Shares (“ADSs”), such that its ratio of ADSs to ordinary shares will change from one (1) ADS representing fifty (50) ordinary shares to a new ratio of one (1) ADS representing one (1) ordinary share. Since the ADS to ordinary shares ratio is being reduced on the same proportionate basis as the reverse share split, no overall effect on the ADS share price is expected and no action is required by ADS holders. The first date when the Company’s ADSs will begin trading on the Nasdaq Capital Market after implementation of the reverse split and concurrent ratio change will be June 29, 2020.

No fractional ordinary shares will be issued as a result of the reverse split as any fractional ordinary shares resulting from the reverse split will be rounded up to the nearest whole share on a per shareholder basis. With respect to the Company’s ADSs, no fractional ADSs will be issued in connection with the reverse stock split.

All options and warrants of the Company outstanding immediately prior to the reverse split, will be appropriately adjusted by dividing the number of ordinary shares into which the options and warrants are exercisable by 50 and multiplying the exercise price thereof by 50, as a result of the reverse split.

The reverse split will not impact any shareholder’s percentage ownership of the Company or voting power, except for minimal effects resulting from the treatment of fractional shares.

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