SCHEDULE: Anson Funds Significantly Reduces Nano Dimension Stake, Establishes Short Position

Anson Funds Management LP and its affiliates have substantially decreased their beneficial ownership in Nano Dimension Ltd. to 7.5% and initiated short economic exposure through derivative agreements.

Summary

• Anson Funds Management LP and its affiliated entities, including Anson Management GP LLC, Tony Moore, Anson Advisors Inc., Amin Nathoo, and Moez Kassam, collectively beneficially own 16,361,433 Ordinary Shares of Nano Dimension Ltd., represented by American Depositary Shares (ADSs).
• This ownership represents 7.5% of Nano Dimension's outstanding shares, calculated based on 217,283,476 shares outstanding as of April 30, 2025.
• The initial acquisition of the ADSs reported as beneficially owned by the Reporting Persons in the original Schedule 13D utilized approximately $25,364,326 of working capital, excluding brokerage commissions.
• Over the past sixty days, the Reporting Persons executed significant open market sales of Nano Dimension ADSs, including 70,382 ADSs at $1.6146 on May 27, 2025, and 750,000 ADSs at $1.5080 on June 26, 2025, among other transactions.
• The Reporting Persons have entered into cash-settled derivative agreements (swaps) that provide short economic exposure to an aggregate of 4,247,231 ADSs, which corresponds to 1.95% of the Issuer's outstanding Ordinary Shares. These derivative agreements do not confer voting or dispositive power.

Sentiment

Score: 3

Explanation: The document indicates a strong bearish sentiment from a significant institutional investor, evidenced by substantial share sales and the establishment of short positions. This is a negative signal for the issuer's stock.

Negatives

• A significant reduction in direct beneficial ownership by a major institutional investor, Anson Funds, signals a potential loss of confidence.
• The establishment of short economic exposure to 4,247,231 ADSs (1.95% of outstanding shares) through derivative agreements indicates a bearish outlook on the company's stock performance.
• Consistent open market sales of ADSs by the reporting persons over the past 60 days, totaling a substantial volume of shares, suggests a strategic divestment.

Risks

• The substantial sales of ADSs by a significant shareholder group could exert downward pressure on Nano Dimension's stock price.
• The disclosure of a short economic position by a prominent investor may negatively influence market sentiment and potentially lead to further selling by other investors.
• The actions of the reporting persons could be interpreted as a lack of confidence in Nano Dimension's future prospects or valuation.

Future Outlook

The reporting persons' actions, including significant sales of shares and the establishment of short economic exposure, suggest a negative outlook on Nano Dimension Ltd.'s future stock performance and valuation.

Industry Context

This filing reflects a significant institutional investor's strategic decision to reduce its stake and take a bearish position in a company. Such actions by large funds can influence broader market sentiment and potentially trigger similar moves by other investors, particularly within the specific industry Nano Dimension operates in.

Stakeholder Impact

• Shareholders: Existing shareholders may face downward pressure on share price due to the significant sales by a large holder and the bearish signal from the short positions. Potential investors might be deterred by this negative sentiment.

Key Dates

Recommendation

Keywords

Nano Dimension, NNDM, Anson Funds, Schedule 13D, beneficial ownership, short position, derivative agreements, ADSs, institutional investor, stock sales, SEC filing