Murchinson urges shareholders to vote GOLD, replace three directors, and block the Infinite Epigenetics deal
NNDM sits 24% above its 52-week low of $1.19.
Summary
Activist Murchinson releases a detailed presentation urging shareholders to vote its GOLD proxy card at the July 31 EGM to remove three directors, block the $890M Infinite Epigenetics deal, and enact binding governance reforms.
Key Events · Corporate Governance and Compliance · NNDM
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Murchinson Releases Investor Presentation
On July 16, 2026, activist Murchinson, which holds roughly 9% of Nano Dimension, issued a detailed presentation urging shareholders to vote its GOLD proxy card at the July 31 EGM to remove three directors and enact binding governance changes.
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Calls to Remove Three Directors
Murchinson seeks to remove Chairman Robert Pons, Director Joshua Rosensweig, and CEO David Stehlin, citing value destruction that includes a 63% loss on Markforged and a -44.4% TSR under Stehlin.
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Opposes $890M Infinite Epigenetics Deal
The presentation criticizes the Board's planned reverse merger with Infinite Epigenetics as a value-destructive pivot into AI-powered health diagnostics, committing millions in termination fees without shareholder approval.
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Proposes Binding Governance Reforms
Murchinson's proposals include annual director elections, shareholder approval for poison pills, and a requirement for shareholder votes on transactions over $50M individually or $100M combined within 12 months.
Analysis · NNDM · Manufacturing
Activist Murchinson, holding ~9%, escalates its proxy fight with a detailed investor presentation ahead of the July 31 EGM. It argues the current Board has destroyed value through disastrous M&A (Desktop Metal, Markforged) and is now pursuing an $890M reverse merger with Infinite Epigenetics that would pivot the company into AI-powered health diagnostics without shareholder approval. Murchinson proposes binding governance changes—annual director elections, shareholder approval for poison pills and major transactions—and seeks to remove Chairman Pons, Director Rosensweig, and CEO Stehlin, replacing them with three independent nominees. The presentation highlights a persistent 30% discount to liquid assets, a 63% loss on Markforged, and CEO Stehlin's $1.6M pay for four months in 2025 while the stock fell 44%. The outcome of this vote will determine whether shareholders regain control or the Board continues its current strategic path.
At the time of this filing, NNDM was trading at $1.47 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $307.8M. The 52-week trading range was $1.19 to $2.32. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.