Bioplastics Company Danimer Scientific Goes Public Via SPAC Danimer Scientific, a Next Generation Bioplastics Company, Completes The Company now holds more than 150 patents and pending patent applications in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. These forward-looking statements should not be relied upon as representing Danimer Scientifics assessments of any date subsequent to the date of this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Jefferies is serving as exclusive financial advisor, sole private placement agent and capital markets advisor to Live Oak. If this decomposes on your shelf, you have much bigger problems, this person added.Daimer plans to use the funds from the merger to expand an existing plant and to build a new Kentucky plant. Danimers signature polymer Nodax PHA (polyhydroxyalkanoate) is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. Nodax is the first PHA polymer to be certified as marine degradable, the highest standard of biodegradability. We are at an inflection point in our growth trajectory and this transaction will fuel the next phase of our rapid commercial expansion. Phone: 229-220-1103 I have a bunch of the straws, one investor source told The Post. We've received your submission. The investor presentation will also be furnished today to the SEC, which can be viewed at the SECs website at www.sec.gov. PHA adoption is benefiting from powerful tailwinds as the result of wide-spread corporate commitments and evolving consumer preferences for eco-friendly packaging solutions that address the worldwide problem of plastic waste. Forward-looking statements generally are accompanied by words such as believe, may, will, estimate, continue, anticipate, intend, expect, should, would, plan, predict, potential, seem, seek, future, outlook, and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. More information on potential factors that could affect our financial results is included from time to time in Live Oaks public reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Place Danimer packaging, though, in a landfill, or bury it outside and it will decompose in weeks without leaving microplastics behind. Our customers view our Nodax PHA technology as a core component of their corporate sustainability strategy and a key vehicle to achieve their ESG commitments of reducing plastic waste by making their plastic packaging fully biodegradable. Based on signed and pending contracts, the company is fully sold out of all production in its Kentucky facility and will use their increased capital base to significantly increase production, to meet the current and long-term demand of its customer base. Danimer Investment Highlights: Leader in the rapidly expanding bioplastic industry, which currently represents less than an estimated 1% of the global plastics market Fully financed at closing of the merger to expand production capacity from 20 million pounds annually today to approximately 200 million pounds in 2025 Jefferies is serving as exclusive financial advisor, sole private placement agent and capital markets advisor to Live Oak. Danimer had announced in October its agreement to go public by merging with blank-check acquisition company Live Oak Acquisition Corp. in a deal that valued the bioplastics company at around $890 million. Danimer, PureCycle update investors The two SPAC firms, targeted by short sellers, give updates on production by Melody M. Bomgardner May 19, 2021 . For more information please visithttps://www.liveoakacq.com/. Danimers current senior management team will continue to lead the Company after the transaction closes. Legacy Danimers senior management team will continue to lead the now combined company. ir@danimer.com Market Data powered by QuoteMedia. Many actual events and circumstances are beyond the control of Danimer Scientific. Dunkin Brands is also test marketing the straws, which are blue, now in its restaurants, and Starbucks may soon do the same, sources said. Rick Hendrix, outgoing Chief Executive Officer of Live Oak and now a member of the Board of Directors of Danimer Scientific, commented, Danimer Scientifics 100% biodegradable products put the Company at the forefront of sustainability and ESG leadership with innovative technologies that minimize exploitation of natural resources and enable customers to incorporate environmentally responsible products into their supply chains. However, while Danimer Scientific may elect to update these forward-looking statements at some point in the future, Danimer Scientific specifically disclaims any obligation to do so, except as required by law. Danimer Scientific anticipates that subsequent events and developments will cause Danimer Scientifics assessments to change. On Oct. 5, Danimer Scientific, a next-gen bioplastics company, agreed to merge with a Live Oak Acquisition, an NYSE-listed SPAC. In connection with the closing, Live Oak changed its name to Danimer Scientific, Inc. (Danimer Scientific or the Company). BAINBRIDGE, Ga. & GREAT FALLS, Va.(BUSINESS WIRE)Danimer Scientific (Danimer or the Company), a next generation bioplastics company focused on the development and production of biodegradable materials, and Live Oak Acquisition Corp. (NYSE: LOAK) (Live Oak), a publicly-traded special purpose acquisition company, announced today a definitive agreement for a business combination that would result in Danimer Scientific becoming a public company. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the respective management of Live Oak and Danimer Scientific and are not predictions of actual performance. Investors Danimer is currently producing and shipping NodaxTM at an industrial scale level from its existing facility in Winchester, Kentucky.
Source: Danimer Investor Presentation. In connection with the proposed transactions, Live Oak intends to file a registration statement on Form S-4, including a proxy statement/prospectus/information statement (the Registration Statement), with the SEC, which will include a preliminary proxy statement to be distributed to holders of Live Oaks Common Stock in connection with Live Oaks solicitation of proxies for the vote by Live Oaks stockholders with respect to the proposed transactions and other matters as described in the Registration Statement, a prospectus relating to the offer of the securities to be issued to the Companys Shareholders in connection with the proposed transactions, and an information statement to Companys Shareholders regarding the proposed transactions. In the Dec. 29 release, Croskrey commented: The completion of our business combination represents a pivotal milestone in the global fight against one of the worlds biggest environmental problems single-use plastic waste and pollution. In addition to serving as Chief Executive Officer, Mr. Croskrey will be named Chairman of the Board. Investors Accordingly, undue reliance should not be placed upon the forward-looking statements. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. The SPAC route gives us the speed that we need to get to that capital. The Company has partnered with key manufacturers and consumer products companies such as PepsiCo, Nestl, Bacardi, Genpak, WinCup, Columbia Packaging Group, Kemira and Plastic Suppliers Inc. as they introduce more sustainable alternatives to straws, food and beverage containers, and flexible packaging, among others. We are excited to become a publicly traded company and enter the next phase of growth as we broaden the reach of our remarkable Nodax technology.. Our New Facility 605 Rolling Hills Lane Winchester, KY 40391. Danimer Scientific shares jump in SPAC debut.
We just dont have time to start a traditional IPO process right now, Croskrey said in an interview with Reuters in October. BAINBRIDGE, GA and GREAT FALLS, VA December 29, 2020 Meredian Holdings Group, Inc., doing business as Danimer Scientific (Legacy Danimer), a next generation bioplastics company focused on the development and production of biodegradable materials, and Danimer Scientific, Inc. (f/k/a Live Oak Acquisition Corp. (Live Oak)) announced today that they have completed their previously announced business combination. The completion of our business combination represents a pivotal milestone in the global fight against one of the worlds biggest environmental problems single use plastic waste and pollution, said Stephen E. Croskrey, Chief Executive Officer of Danimer Scientific. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. and the CEO alluded to pricing in the $2.50-$2.70/lb. We are now fully financed to expand production capacity and meet the considerable expected demand from our blue chip, multinational customer base. Months before going public via special purpose acquisition company ("SPAC") in December 2020, promoted by Gary Wunderlich, an SEC sanctioned individual, Danimer settled a messy lawsuit with former CEO Paul Pereira. 2023 NYP Holdings, Inc. All Rights Reserved, Plastic particles pass from pregnant mother to fetus: concerning rat study, New Jersey residents fight plastic bag ban, steal shopping baskets, URI secures $1M in funding for plastic pollution research, Surgeons remove plastic flower lodged in 8-year-olds throat for five years, NFL drops the ball as TV ratings take hit over 'woke-ism', The one zeal of a woke backlash to ESG investments, REBNY's new return-to-office gauge paints bright view for 'trophy' towers, Food delivery maven unveils NYC shop after dumping Mercedes mobile kitchens, US home prices just did something they haven't done since 2012, JPMorgan Chase requires some workers give 6 months notice before quitting, Biden, Buttigieg call on airlines to drop family seating fees, Tom Sandoval speaks out on Raquel Leviss affair: I deserve your anger, Shoeless Ariana Madix awkwardly tries to avoid cheating Tom Sandoval, Prince Harry was scared to lose Meghan Markle after fight that led to therapy, Memphis Grizzlies star Ja Morant allegedly flashes gun at a strip club, Ariana Madix, Tom Sandoval have awkward moment amid cheating scandal, Canadian teacher with size-Z prosthetic breasts placed on paid leave. The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. As a result of this transaction, Danimer Scientific will now have approximately $380 million of unrestricted cash, net of transaction costs, on the balance sheet to fully fund future, planned growth, including the expansion of its current Kentucky facility and the build out of its contemplated greenfield facility. Phone: 229-220-1103, Internet Explorer presents a security risk. Stay informed on the latest daily SPAC news. Investor Relations Company Overview Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary NodaxTM brand name. More information on potential factors that could affect our financial results is included from time to time in Danimer Scientifics public reports filed with the Securities and Exchange Commission, including (when available) its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
Danimer Scientific: Bioplastics Player With Upside - SeekingAlpha We are excited to partner with Live Oak and transition Danimer to be a public company. Registered in England and Wales. And the Pepsi partnership is serious enough that the soda maker has acquired a 6 percent stake in Danimer, according to the investor presentation. Danimer Scientific (NYSE:DNMR) is a pioneer in creating fully biodegradable and compostable bioplastics providing a cleaner, healthier, and environmentally responsible alternative to fossil fuel-based plastics, High-growth industry leader with blue chip customer contracts demonstrating large-scale demand for PHA-based biodegradable plastics, Institutional investors committed $210 million at closing; including certain funds managed by affiliates of Apollo, Federated Hermes Kaufmann Small Cap Fund, and over $50 million from Live Oak affiliates. The common stock of Danimer Scientific will trade under the ticker symbol DNMR on the New York Stock Exchange beginning December 30, 2020. In connection with the closing, Live Oak changed its name to Danimer Scientific, Inc. (Danimer Scientific or the Company). Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in domestic and foreign business, market, financial, political, and legal conditions; the inability of the parties to successfully or timely consummate the proposed transaction, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed transaction or that the approval of the stockholders of Live Oak or Danimer Scientific is not obtained; failure to realize the anticipated benefits of the proposed transaction; risks relating to the uncertainty of the projected financial information with respect to Danimer Scientific; the amount of redemption requests made by Live Oak stockholders; the overall level of consumer demand for Danimer Scientifics products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of Danimer Scientifics customers; Danimer Scientifics ability to implement its business strategy; changes in governmental regulation, Danimer Scientifics exposure to intellectual property, product liability or product warranty claims and other loss contingencies; disruptions and other impacts to Danimer Scientifics business, as a result of the COVID-19 global pandemic and government actions and restrictive measures implemented in response; stability of Danimer Scientifics manufacturing facilities and suppliers, as well as consumer demand for its products, in light of disease epidemics and health-related concerns such as the COVID-19 global pandemic; the impact that global climate change trends may have on Danimer Scientific and its suppliers and customers; Danimer Scientifics ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, Danimer Scientifics information systems; fluctuations in the price, availability and quality of raw materials and contracted products as well as foreign currency fluctuations; Danimer Scientifics ability to utilize potential net operating loss carryforwards; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks. The bioplastics company was taken public in a $525 million SPAC deal at the end of . Danimer Scientific Headquarters140 Industrial BoulevardBainbridge, GA 39817, Our 20-acre campus with over 235,000 sqft of manufacturing space, Our New Facility605 Rolling Hills LaneWinchester, KY 40391, Our new location, the worlds first commercial production facility for PHA. Important Information and Where to Find It. A more detailed description of the transaction can be found in the proxy statement/prospectus filed with the U.S. Securities and Exchange Commission (SEC) on December 16, 2020 by Live Oak. Investorsir@danimer.comPhone: 229-220-1103MediaDanimerPR@icrinc.com. Warns Investors That Danimer Came Public Via A SPAC Promoted By An SEC-Sanctioned Former Broker and Has a Valuation Currently In Excess of $2 Billion Despite No Near-Term Path To Profitability . We believe PHA has the ability to eliminate the pollution caused by single use plastics worldwide, a potentially remarkable achievement. Based on signed and pending contracts, Danimer is fully sold out of all production in its Kentucky facility and will use its increased capital base to significantly increase production to meet expected current and long-term demand, said Danimer. Our vision for making a 100% renewable and biodegradable replacement for traditional plastics has now become a reality. Based on signed and pending contracts, the company is fully sold out of all production in its Kentucky facility and will use their increased capital base to significantly increase production, to meet the current and long-term demand of its customer base. Their presentation is completely filled to the brim with what ifs and what could be. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. 2023-2033 2022-2032 2022-2032 2023-2043 . For more than a decade, the Companys renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. Media The live conference call webcast, a related investor presentation with more detailed information regarding the proposed transaction and a transcript of the investor call will also be available at https://www.liveoakacq.com/. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). The company has partnered with key plastics manufacturers and consumer products companies such as PepsiCo, Nestl, Genpak, WinCup, Columbia Packaging Group and Plastic Suppliers Inc. as they transition a wide variety of plastic applications, including straws, food and beverage containers, flexible packaging, agricultural and medical applications, among others. After the Registration Statement has been filed and declared effective, Live Oak will mail a definitive proxy statement/prospectus/information statement, when available, to its stockholders. Live Oak and Danimer Scientific anticipate that subsequent events and developments will cause Live Oaks and Danimer Scientifics assessments to change. Houlihan Lokey is serving as financial advisor to Danimer. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary Nodax brand name. Upon closing of the transaction, the combined company will be renamed Danimer Scientific and is expected to remain listed on the NYSE under a new ticker symbol. Houlihan Lokey served as financial advisor to Danimer. Danimer is focused on the development and production of biodegradable materials.
Danimer Shares Grossly Overvalued. Spruce Point report Update 1 The common stock of Danimer Scientific will trade under the ticker symbol DNMR on the New York Stock Exchange beginning December 30, 2020.
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