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AME)/
PE (3D-Printed Electronics) provider, announced today that it has signed and closed a definitive agreement to acquire NanoFabrica Ltd. (“NanoFabrica”) (
https://www.nano-fabrica.com/), a world leader in technology and turn-key systems for precise 3D-micro-printing (or precision additive manufacturing). Nano Dimension will pay the shareholders of NanoFabrica a total ranging between $54.9 million to $59.4 million. Out of that, between $23 million to $27.5 million will be paid in cash (depending upon NanoFabrica meeting certain performance milestones and the founders of NanoFabrica continuing to work for a defined period after the acquisition), and approximately $32 million was paid in American Depositary Shares (ADSs) of Nano Dimension (approximately 30% of which cannot be sold for various periods of up to 24 months after the closing of the transaction). Certain cash payments will be based on NanoFabrica’s revenue and gross margin performance in the next 12 months.
By Ndubuisi Francis
The nation’s wholesale development finance institution, Development Bank of Nigeria (DBN), has announced the appointment of Mrs. Ijeoma Ozulumba and Mr. Kyari Abba Kyari as Executive Director and Independent Non-Executive Director respectively, on the board of the bank.
The Chairman of the Board of Directors, Dr. Shehu Yahaya, who made the disclosure, noted that the appointment of Ozulumba and Kyari would further strengthen DBN’s vision to provide adequate and sustainable financing to micro, small, and medium enterprises (MSMEs) across the country.
In a statement issued by the bank, the board chairman maintained that the organisation would continually uphold the highest standards of corporate governance, which have kept the bank on a steady trajectory of progress.