Nano Dimension Ltd. (NASDAQ:NNDM) Q1 2023 Earnings Call Transcript

Yoav Stern: Yes.

Rick Smith: Okay. On the last call, I’m sure you remember this, I asked you when the tender offer expired and you told me to date, and I asked you if you promise. When are you guys going to go away from this thing?

Yoav Stern: [We’re not] [ph].

Rick Smith: The market does not believe you.

Yoav Stern: Who is the market? You?

Rick Smith: The market is the share price. SSYS right?

Yoav Stern: The market [indiscernible] close the deal. The market will believe us when we close the deal.

Rick Smith: When you close the deal. Okay. Thanks.

Yoav Stern: Thank you, sir.

Operator: And our next question will come from [Ram Reddy] [ph], an Investor. Please go ahead with your question.

Unidentified Analyst: Thank you for reporting a nice quarter. I have a couple of questions. The first one is, so when are you going to get the final judgment from the court or from settlement for the lawsuit between Nano Dimension and [Toronto Group] [ph]? Second question is, are you expecting any analyst coverage in the near future? So, please answer those two questions.

Yoav Stern: Okay. Can you repeat the first question, please?

Unidentified Analyst: I want to know what is the time line for getting the final judgment between Nano Dimension and Toronto Group lawsuit.

Yoav Stern: The Canadian Group?

Unidentified Analyst: That is on everybody’s minds.

Yoav Stern: We don’t have any settlement with them. Those are shareholders. They are trying – they were trying to liquidate the company because the price coming in was $2.5. So they wanted to stop all activities and take the money at the $4 since 85% of our shareholders are prices that are higher than that, and we don’t think it’s even reasonable. We don’t – I don’t know what settlement you’re talking about.

Unidentified Analyst: But I’m thinking right now, when the judgment is going to come from the court. Otherwise, your job is in the [indiscernible]. We don’t know whether you’re going to be CEO of the next shareholders meeting or not?

Yoav Stern: I’m sorry, I don’t understand what you’re saying. What is the question?

Unidentified Analyst: The question is, right now the lawsuit pending in the court, right?

Yoav Stern: There is a court case, which they are going to lose because I don’t have the right and they didn’t have the right to try to do what they did six months ago. And even with the other court, as you can see, whatever they did six months ago, has no meaning. Business continues as usual. The company is performing very well. So, we’re not looking at them as any factor in what we do as we run our business. They’re totally not a factor. They’re shareholders, and that’s it.

Unidentified Analyst: But is there any date for the final court hearing on that? Is there any date set for that?

Yoav Stern: There’s few court hearings, both in New York. We sue them in New York for manipulating the share last year. We found out with computer programs that they were cooperating with other funds there, and we’re playing with the shares. This is a federal offense. So, we sue them. And this is going on. And there’s a court in Israel, which they try to enforce something they did six months ago, but they didn’t succeed. So, until the – once there will be a court decision in our lawsuit against them in New York or in Israel, we’ll let you know.

Unidentified Analyst: Yes. But until then, if court is going to say, [what are] [ph] the shareholders meeting they conducted in March, that is a valid, then you are out, right?

Yoav Stern: I don’t know what you’re talking about. I’m really sorry to say that I don’t know what you’re talking about.

Unidentified Analyst: I’m sorry, because they had an illegal shareholders meeting in March 2023 right?