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. One of Danimers eight directors will be PepsiCo Foods North America Senior Vice President and Controller Christy Basco, according to regulatory filings. We believe PHA has the ability to eliminate the pollution caused by single use plastics worldwide, a potentially remarkable achievement. 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. 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.. 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. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. Our new location, the world's first commercial production facility for PHA. Investors Investors. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary Nodax brand name. 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. Live Oak changed its name to Danimer Scientific Inc. and began trading under the ticker symbol DNMR on the New York Stock Exchange on Dec. 30. Credit: Danimer Scientific Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Our 20-acre campus with over 235,000 sqft of manufacturing space. 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. PO Box 122Syosset, NY 11791(516) 876-8006team@dealflowevents.com. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. BAINBRIDGE, Ga. & GREAT FALLS, Va.--(BUSINESS WIRE)--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. Meeting todays sustainability needs, our R&D and manufacturing services help companies move from reliance on petrochemical plastics to completely compostable resins through PLA modifications, tolling and converting services and more. Information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the Registration Statement and other relevant materials to be filed with the SEC regarding the proposed transactions when they become available. DealFlow Financial Products, Inc. (d/b/a DealFlow Events). Phone: 229-220-1103 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. Building Tomorrow's Sustainability: PHA . 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. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary Nodax TM brand name. As a result, NodaxTMoffers a better beginning-of-life and end-of-life cycle than any of todays traditional plastics, eliminates the need for recycling and can replace the 80% of plastics that are never recycled or incinerated. We are delighted to complete this business combination to accelerate the Companys growth and create value for Danimer Scientifics team members, customers, shareholders and the environment.. 2023-2033 2022-2032 2022-2032 2023-2043 . 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. Live Oak is led by an experienced team of managers, operators and investors who have played important roles in helping build and grow profitable public and private businesses, both organically and through acquisitions, to create value for stockholders. Live Oak raised $200 million in May 2020 and its securities are listed on the NYSE under the tickers LOAK, LOAK.U and LOAK WS. Live Oak Acquisition Corp. is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. 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. 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.. By merging with a special purpose acquisition company (SPAC) to go public, Danimer Scientific gains accelerated access to the capital it needs to increase production of its signature polymer, Nodax PHA. 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. For more than a decade, the Companys renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. 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/. In addition to serving as Chief Executive Officer, Mr. Croskrey will be named Chairman of the Board. For Danimer: Investors ir@danimer . Registered in England and Wales. and the CEO alluded to pricing in the $2.50-$2.70/lb. As a result, NodaxTM offers a better beginning-of-life and end-of-life cycle than any of todays traditional plastics, eliminates the need for recycling and can replace the 80% of plastics that are never recycled or incinerated. 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. 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. Number 8860726. 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. Danimer Scientific Headquarters . 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. But perhaps the biggest potential deal involves food and beverage giant Pepsi. Information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the Registration Statement and other relevant materials to be filed with the SEC regarding the proposed transactions when they become available. There may be additional risks that neither Live Oak nor Danimer Scientific presently know, or that Live Oak nor Danimer Scientific currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Overview; News & Events. 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) itsAnnual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. 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. Many actual events and circumstances are beyond the control of Live Oak and Danimer Scientific. 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/. 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. The common stock of Danimer Scientific will trade under the ticker symbol DNMR on the New York Stock Exchange beginning December 30, 2020. It 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. Spruce Point Capital Management. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Danimer is focused on the development and production of biodegradable materials. Hawks Acquisition in a statement said the NYSE has determined it is not in compliance with the minimum 300 shareholders requirement to remain listed on the exchange. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary Nodax brand name. Danimer Scientific has grown to become recognized as one of the most advanced and innovative biotechnology companies in the world. Danimer Scientific is currently producing and shipping NodaxTM at a commercial scale level from its existing facility in Winchester, Kentucky. 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. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Danimer Scientific and are not predictions of actual performance. 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 Kane Kessler, PC is serving as legal counsel to Danimer. All rights reserved. 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. Stay informed daily on the latest SPAC news. Danimer-made plastics need an incredible amount of bacteria to decompose, so the packaging can be shelf stable for years, the investor source said. When available, these documents can be obtained free of charge from the sources indicated above. Investor Relations; Achieving Sustainability Today. Many actual events and circumstances are beyond the control of Danimer Scientific. Danimer will continue to be led by Stephen E. Croskrey, Danimers current Chief Executive Officer. Mayer Brown LLP is serving as legal advisor to Live Oak. Important Information and Where to Find It. Media Danimers current senior management team will continue to lead the Company after the transaction closes. 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. The Company now holds more than 150 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. No company has made these kinds of bioplastics on a mass scale, sources said. Danimer Scientific Headquarters 140 Industrial Boulevard Bainbridge, GA 39817. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. For more than a decade, the Companys renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. Copyright 2023. The Boards of Directors of Live Oak and Danimer have unanimously approved the transaction, and holders representing a majority of Danimer stock have signed voting and support agreements agreeing to vote for the transaction. PepsiCo ( NASDAQ: PEP) appears to have sold a stake in green plastics company Danimer Scientific Inc. ( NYSE: DNMR ), according to Pepsi's latest 10-Q filing. ir@danimer.com Houlihan Lokey served as financial advisor to Danimer. 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. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary NodaxTM brand name. 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. We are now fully financed to expand production capacity and meet the considerable expected demand from our blue chip, multinational customer base. Copyright 2021 Live Oak Acquisition Corporation - All Rights Reserved. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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.
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