What happened Shares of Nano Dimension (NASDAQ: NNDM) have plunged today, down by 26% as of noon EST, after the company priced a direct offering. The price was well below yesterday's closing price. So what The 3D-printing technology company priced a direct offering of 25 million American depository shares (ADSs) at $4 per ADS, representing a discount of over 30% to yesterday's closing price of $5.86. The deal will raise $100 million in gross proceeds for Nano Dimension before fees and other expenses related to the offering are factored in. Nano Dimension's DragonFly system. Image source: Nano Dimension. Nano Dimension intends to use the net proceeds for working capital and general corporate purposes, which could potentially include acquisitions and other strategic opportunities. The stock had surged earlier this week after Nano Dimension received a notice of allowance for a U.S. patent related to the fabrication of printed circuit boards (PCBs). Now what The news comes about a week after the company reported disappointing third-quarter earnings results. The business has been under pressure -- sales fell 80% last quarter -- due to the COVID-19 pandemic, which has affected demand for the company's DragonFly industrial 3D printer. Management remains confident that demand will bounce back after the public health crisis is over. Nano Dimension finished the third quarter with $45.7 million, up from $3.9 million at the end of 2019. The company attributed the increase in cash to other offerings throughout the year. The latest offering will raise substantial capital but also dilute existing shareholders. 10 stocks we like better than Nano Dimension Ltd.-American Depositary SharesWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Nano Dimension Ltd.-American Depositary Shares wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source