Company has more cash on hand than the market cap of their stock, is there some way to make money from this?

I came across Nano Dimensions today. They are an unprofitable 3d printing manufacturer.

The interesting part is that the company is .7x undervalued based on their cash reserves.

Net cash (cash - debt) is $425 million

Market cap is $374 million

So the company, all its revenue and IP is somehow worth negative

$50 million? Why wouldn't some firm try to buy up a controlling interest and just liquidate them to shareholders for an immediate arbitrage? Trading at $1.80 end cash value in reserve is $2.21 a share.

Has anyone seen this before and how did it play out? Is this actionable in any way, or just file it under "interesting yet useless" info?

Thank you in advance!