The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. 2023-2033 2022-2032 2022-2032 2023-2043 . 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 Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. There is no agreement that they are going to give us 100 percent of their snack bag business, Danimer CEO Stephen Croskrey admitted before adding: I would certainly hope that we would be making all their snack bags.. PO Box 122Syosset, NY 11791(516) 876-8006team@dealflowevents.com. Mayer Brown LLP is serving as legal advisor to Live Oak. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary Nodax brand name. 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. 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. Rick Hendrix, Chief Executive Officer of Live Oak, has joined Danimer Scientifics Board, and John Amboian, Non-Executive Chairman of Live Oak, has joined the Board as Lead Independent Director. Market Data copyright 2023 QuoteMedia. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. Many actual events and circumstances are beyond the control of Live Oak and Danimer Scientific. 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 connection with the closing, Live Oak changed its name to Danimer Scientific, Inc. (Danimer Scientific or the Company). Danimer is focused on the development and production of biodegradable materials. Investors and security holders may obtain free copies of the preliminary proxy statement/prospectus and definitive proxy statement/prospectus (when available) and other documents filed with the SEC by Live Oak through the website maintained by the SEC athttp://www.sec.gov, or by directing a request to: Live Oak Acquisition Corp., 774A Walker Rd, Great Falls, VA 22066 or (901) 985-2865. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. Partners in Research and Manufacturing 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. Jefferies served as exclusive financial advisor, sole private placement agent and capital markets advisor to Live Oak. 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. In addition to the gross amount of approximately $200 million held in Live Oaks trust account (assuming no redemptions are effected), institutional investors, including certain funds managed by affiliates of Apollo Global Management, Inc. (NYSE:APO) (together with its consolidated subsidiaries, Apollo) and Federated Hermes Kaufmann Small Cap Fund, have committed to a private investment of $210 million in Class A common stock of the combined company that will close concurrently with the business combination. No company has made these kinds of bioplastics on a mass scale, sources said. Nodax PHA is the first PHA polymer to be certified as marine degradable, the highest standard of biodegradability, which verifies the material will fully degrade in ocean water without leaving behind harmful microplastics. Danimer Scientific, a maker of biodegradable, bacteria-grown plastics, is set to go public via a merger with Live Oak Acquisition (ticker: LOAK), a special purpose acquisition company, or SPAC. 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. DanimerPR@icrinc.com, Internet Explorer presents a security risk. The Company now holds more than 150 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. Accordingly, undue reliance should not be placed upon the forward-looking statements. 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. These forward-looking statements should not be relied upon as representing Live Oaks or Danimer Scientifics assessments of any date subsequent to the date of this press release. Danimers products return to nature instead of polluting our lands and waters. Copyright 2023. Important Information and Where to Find It. 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. Market Data powered by QuoteMedia. Nodax PHA is the first PHA polymer to be certified as marine degradable, the highest standard of biodegradability, which verifies the material will fully degrade in ocean water without leaving behind harmful microplastics. 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. 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.. By utilizing Nodax, the brand owners and plastics converters that we work with can develop innovative solutions to their plastic packaging that help them meet their sustainability goals. For more information, visitwww.DanimerScientific.com. Live Oaks team has experience operating and investing in a wide range of industries, bringing us a diversity of experiences as well as valuable expertise and perspective. For more information, visit www.DanimerScientific.com. Morgan Stanley is serving as capital markets advisor to Live Oak. We are now fully financed to expand production capacity and meet the considerable expected demand from our blue chip, multinational customer base. Danimer Scientific shares jump in SPAC debut. Now with certified production figures from Danimer, we estimate PHA Average Selling Prices (ASPs) are overstated by 30% - 42% Danimer's October 2020 Investor Presentation implied PHA ASPs of $3.00/lb. Nodax PHA is the first PHA polymer to be certified as marine degradable, the highest standard of biodegradability, which verifies the material will fully degrade in ocean water without leaving behind harmful microplastics.
Tom Krouse Net Worth,
William L Dickinson High School Staff,
When To Clean Budgie Nesting Box,
How To Become A Subdeacon In The Orthodox Church,
Hudson 308 Performance Parts,
Articles D