Shares of 3D printing company Nano Dimension (NNDM) surged 5.78% on Tuesday amid the company's announcement of a strategic shift under new interim CEO Julien Lederman and the authorization of a $150 million share repurchase program.
In a letter to shareholders, Lederman acknowledged investor concerns over Nano Dimension's persistently negative enterprise value, poor share price performance, lack of shareholder trust and credibility issues under prior management. He outlined plans to renew the company's focus on shareholder interests, disciplined capital allocation, prudent expense management, and a dual emphasis on growth and profitability.
Lederman stated that Nano Dimension's core business is expected to achieve cash flow positive results on an adjusted basis starting in Q4 2025, excluding one-time transformation and legal costs. The $150 million buyback program provides financial flexibility depending on market conditions. Lederman aims to restore good governance and decision-making guided by demonstrated return on investment.
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