Our customers view our Nodax PHA technology as a core component of their corporate sustainability strategy and a key vehicle to achieve their commitments of reducing plastic waste by making their plastic packaging fully biodegradable, Croskrey added. The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. Mayer Brown LLP served as legal counsel to Live Oak. Danimer Scientific anticipates that subsequent events and developments will cause Danimer Scientifics assessments to change. 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. Liquor company Bacardi on Oct. 23 said it teamed up with Danimer to make its spirits bottles out of biodegradable material by 2023 a conversion that would eliminate the 3,000 tons of plastic its 80 million bottles produce annually. Kane Kessler, PC is serving as legal counsel to Danimer. Investors Important Information and Where to Find It. range on the year end conference call in March 2021 Live Oak and Danimer will host a joint investor conference call to discuss the proposed transaction on Monday, October 5, 2020 at 9:00 am Eastern time. Danimer Scientific to Begin Trading on the New York Stock Exchange Under DNMR. Danimer Scientific on Oct. 5 said it planned to merge with blank-check company Live Oak Acquisition and take over its NYSE listing before the end of the year. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Investor Relations; Achieving Sustainability Today. 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. About Us - Danimer Scientific Stay informed daily on the latest SPAC news. 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. The transaction will require the approval of the stockholders of both Live Oak and Danimer, and is subject to other customary closing conditions, including the receipt of certain regulatory approvals. Biodegradable Straw Maker Woos Consumers with Giveaway on National Drinking Straw Day, Danimer Scientific and WinCup Receive 2020 Innovation in Bioplastics Award, PHA Bioplastics Manufacturer Danimer Scientific Going Public. For more than a decade, the Companys renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. 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. If any of these risks materialize or any assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. The common stock of Danimer Scientific will trade under the ticker symbol DNMR on the New York Stock Exchange beginning December 30, 2020. 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/. Jefferies is serving as exclusive financial advisor, sole private placement agent and capital markets advisor to Live Oak. We believe Danimer is poised for rapid and sustained growth with a fully financed capacity expansion plan and proprietary customer applications.. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. 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. As a result, Nodax offers a better beginning-of-life and end-of-life cycle than any of todays traditional plastics and can replace the 80% of plastics that are never recycled or incinerated. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. As a result, NodaxTM offers a better beginning-of-life and end-of-life cycle than any of todays traditional plastics and can replace the 80% of plastics that are never recycled or incinerated. Danimers products return to nature instead of polluting our lands and waters. Interested parties may listen to the prepared remarks call via telephone by dialing 1-877-407-9208, or for international callers, 1-201-493-6784. Live Oak Acquisition Corp. (LOAK) to Combine with Danimer Scientific in $525M Deal, Altimar III Adjourns Again without Extension Vote, Build Acquisition Announces Redemptions, Dissolution, Live Oak Mobility AcquisitionCancels Stockholder Meeting, will Dissolve, McLaren Technology Acquisition to Liquidate Today, Omeed Maliks SPAC Nears $200M Deal With Patriotic Marketplace PublicSq, SPACs Shift to More Obscure Exchanges to Keep Deal Dreams Going, Prison Phone Firm ViaPath Discusses Merging With Tristar SPAC, Lexasure Financial Combining with Capitalworks Emerging Markets Acquisition in $250M Deal, UpHealth SPAC Lawsuit Advances Against GigCapitals Avi Katz, Schultze SPAC Reportedly in Talks to Merge with Body Armor Maker Point Blank Enterprises, Promised Funding Means Nothing in SPAC Season of Discontent: Report, Mercer Park Brand Acquisition and Glass House Group to Combine for $567M into Largest Cannabis Brand-Building Platform in California, 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, Intense demand from existing blue chip multinational customers supports management revenue forecast of over $500 million annually in 2025, with significantly increased profit margins by scaling existing production facilities, Ownership of a portfolio of core patents purchased from Procter & Gamble in 2007, expanded to include numerous application-based patents, and now aggregating to more than 150 patents applicable in 20 countries, $890 million of equity, $385 million of cash and only $20 million of pro forma debt provide ample flexibility to support abundant long-term growth opportunities, including further capacity additions domestically and internationally, as well as strategic partnerships and acquisitions of complementary technologies, Highly experienced leadership team with long term tenure at the company and a board of directors with a proven record of creating shareholder value. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. The Company now holds more than 150 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. For more information please visithttps://www.liveoakacq.com/. Mayer Brown LLP is serving as legal advisor to Live Oak. 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 athttps://www.liveoakacq.com/. Market Data powered by QuoteMedia. The transaction was unanimously approved by the board of directors of Live Oak and was approved at a special meeting of Live Oak stockholders on December 28, 2020. Stay informed on the latest daily SPAC news. If all works out as planned, sources said, Pepsi plans to convert all of its snack brands, including Doritos, Fritos and Lays potato chips, to Danimer Plastics bags. Lines and paragraphs break automatically. Additional information about the proposed transaction, including a copy of the merger agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by Live Oak with the Securities and Exchange Commission and will be available at www.sec.gov. In addition to serving as Chief Executive Officer of Danimer Scientific, Mr. Croskrey has been named Chairman of the Board. Home - Danimer Scientific Number 8860726. Live Oak / Danimer Merger - Danimer Scientific Click here to learn more. To ensure the most secure and best overall experience on our website, we recommend the latest versions of, 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, Intense demand from existing blue chip multinational customers supports management revenue forecast of over $500 million annually in 2025, with significantly increased profit margins by scaling existing production facilities, Ownership of a portfolio of core patents purchased from Procter & Gamble in 2007, expanded to include numerous application-based patents, and now aggregating to more than 150 patents applicable in 20 countries, $890 million of equity, $385 million of cash and only $20 million of pro forma debt provide ample flexibility to support abundant long-term growth opportunities, including further capacity additions domestically and internationally, as well as strategic partnerships and acquisitions of complementary technologies, Highly experienced leadership team with long term tenure at the company and a board of directors with a proven record of creating shareholder value. Danimer Scientific wants to enable people and communities to benefit from sustainable, environmentally friendly products that decompose seamlessly, leaving no traces of particulate matter or harmful footprint behind. Morgan Stanley served as capital markets advisor to Live Oak. Kane Kessler, PC is serving as legal counsel to Danimer. For more information, visit www.DanimerScientific.com. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary NodaxTM brand name. 2023 NYP Holdings, Inc. 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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. Live Oak and the Company and their respective directors and certain of their respective executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the proposed transactions. Investor Relations; Achieving Sustainability Today. 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. Watch Why Danimer Scientific Went Public via SPAC - Bloomberg The transaction is expected to close in the second quarter. 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.. Meredian Holdings Group, Inc., doing business as Danimer Scientific ("Legacy Danimer"), a next generation bioplastics company focused on the developme The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. Accordingly, undue reliance should not be placed upon the forward-looking statements. All SEC Filings :: Danimer Scientific (DNMR) Meredian Holdings Group Inc., doing business as bioplastics company Danimer Scientific, and Danimer Scientific Inc., formerly known as Live Oak Acquisition Corp., announced on Dec. 29 that they have completed their previously announced business combination. LOAK/Danimer scientific : SPACs - reddit 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. Many actual events and circumstances are beyond the control of Danimer Scientific. Given the company's ESG orientation, we'd like to see better diversity and inclusion metrics. 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. Houlihan Lokey served as financial advisor to Danimer. PepsiCo filing may confirm sale of stake in Danimer Scientific The transaction was unanimously approved by the board of directors of Live Oak and was approved at a special meeting of Live Oak stockholders on December 28, 2020. In addition to serving as Chief Executive Officer, Mr. Croskrey will be named Chairman of the Board. 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. One of Danimers eight directors will be PepsiCo Foods North America Senior Vice President and Controller Christy Basco, according to regulatory filings. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. Applications for Danimers biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles. Our New Facility 605 Rolling Hills Lane Winchester, KY 40391 . 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. Mayer Brown LLP is serving as legal advisor to Live Oak. There may be additional risks that Danimer Scientific does not presently know, or that Danimer Scientific currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Our New Facility 605 Rolling Hills Lane Winchester, KY 40391. Danimer is projecting just $51 million in 2020 revenue and is expected to break even this year. Investors Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary Nodax brand name. For more than a decade, the Companys renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. No company has made these kinds of bioplastics on a mass scale, sources said. Danimer is focused on the development and production of biodegradable materials. 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. 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;; failure to realize the anticipated benefits of the transaction; risks relating to the uncertainty of the projected financial information with respect to Danimer Scientific; 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, forward-looking statements reflect Live Oaks and Danimer Scientifics expectations, plans, or forecasts of future events and views as of the date of this press release. It is anticipated that the combined company will have approximately $385 million of unrestricted cash on the balance sheet to fully fund future, planned growth, including the expansion of its current facility and the build out of its contemplated greenfield facility. Our new location, the world's first commercial production facility for PHA. The bioplastics company was taken public in a $525 million SPAC deal at the end of . Danimer Scientific has entered into a definitive merger agreement with Live Oak Acquisition Corp. (NYSE: LOAK), 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. RT=Real-Time, EOD=End of Day, PD=Previous Day. Click here to see our new facility in Winchester, KY and to learn more about our capabilities. 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. 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. 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 at http://www.sec.gov, or by directing a request to: Live Oak Acquisition Corp., 774A Walker Rd, Great Falls, VA 22066 or (901) 985-2865. On Oct. 5, Danimer Scientific, a next-gen bioplastics company, agreed to merge with a Live Oak Acquisition, an NYSE-listed SPAC. Danimer Scientific's CEO on How Bioplastics Can Help Save the World Danimer makes plastic pellets using canola oil instead of petrochemicals that promises to quickly decompose when met with bacteria from, say, a landfill or lake. NEW YORK (Reuters) - Danimer Scientific said on Monday it has agreed to go public by merging with blank-check acquisition company with Live Oak Acquisition Corp LOAK.N in a deal which values. , a trading division of Informa PLC.
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