Nano Dimension (NNDM) issued a press release providing additional details on its proposed business combination with Infinite Epigenetics, an AI-powered preventive health and diagnostics company. The transaction marks a strategic pivot for Nano Dimension away from 3D printing and is presented as a superior value creation opportunity compared to liquidating the company's assets. The release also serves as a response to investor Murchinson Ltd., defending the deal's rationale and the board's due diligence process.
Key Details
- Proposed Transaction: A business combination with Infinite Epigenetics, shifting Nano's focus to the AI-powered diagnostics market, which it estimates exceeds $90 billion.
- Valuation & Terms: The proposed combination values Nano at its net cash plus a 20% premium. Nano shareholders would receive ownership in the combined company and retain contingent value rights (CVRs) on Nano's legacy assets. The final agreement is still being negotiated and will be subject to a shareholder vote.
- Strategic Rationale: The board selected Infinite Epigenetics after a review of approximately 20 opportunities, citing its status as an operating business with existing commercial revenue, a CLIA-certified lab, and a network of over 7,500 healthcare providers.
- Infinite Epigenetics' Assets: The company possesses a proprietary DNA methylation dataset of over 120,000 biological samples, which is central to its biological AI platform for detecting chronic diseases.