Danimer Scientific Headquarters 140 Industrial Boulevard Bainbridge, GA 39817. Morgan Stanley is serving as capital markets advisor to Live Oak. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. Live Oak and Danimer Scientific anticipate that subsequent events and developments will cause Live Oaks and Danimer Scientifics assessments to change. The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. 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. 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. 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. 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 . Danimer is currently producing and shipping NodaxTM at an industrial scale level from its existing facility in Winchester, Kentucky. We've received your submission. Building Tomorrow's Sustainability: PHA . For more information, visit www.DanimerScientific.com. Partners in Research and Manufacturing SPACs are struggling to collect previously committed cash in the latest sign of discontent in this once-booming corner of equity capital markets, Bloomberg reports. Legacy Danimers senior management team will continue to lead the now combined company. 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. Based on signed and pending contracts, the Company is fully sold out of all production in its Kentucky facility and will use its increased capital base to significantly increase production in seeking to meet the expected current and long-term demand of its customer base. I have a bunch of the straws, one investor source told The Post. Stay up to date with new solutions and our latest R&D. One of Danimers eight directors will be PepsiCo Foods North America Senior Vice President and Controller Christy Basco, according to regulatory filings. In connection with the closing, Live Oak changed its name to Danimer Scientific, Inc. (Danimer Scientific or the Company). 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. 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. Dunkin Brands is also test marketing the straws, which are blue, now in its restaurants, and Starbucks may soon do the same, sources said. 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.. 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. 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. We are now fully financed to expand production capacity and meet the considerable expected demand from our blue chip, multinational customer base. Houlihan Lokey is serving as financial advisor to Danimer. 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.. 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. 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. Jefferies served as exclusive financial advisor, sole private placement agent and capital markets advisor to Live Oak. Market Data powered by QuoteMedia. 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. 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. Houlihan Lokey served as financial advisor to Danimer. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary NodaxTM brand name. 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. 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. Click here to learn more. 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. 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. 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. We now hold 125 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. Danimers current senior management team will continue to lead the Company after the transaction closes. Number 8860726. The SPAC said it would present a plan to regain compliance. Danimer Scientific has grown to become recognized as one of the most advanced and innovative biotechnology companies in the world. Mayer Brown LLP is serving as legal advisor to Live Oak. RT=Real-Time, EOD=End of Day, PD=Previous Day. Nodax is the first PHA polymer to be certified as marine degradable, the highest standard of biodegradability. The Company now holds more than 150 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. We are excited to partner with Live Oak and transition Danimer to be a public company, said Stephen E. Croskrey, Chief Executive Officer of Danimer. For more information please visithttps://www.liveoakacq.com/. Investors and security holders and other interested parties are urged to read the proxy statement/prospectus/information statement, any amendments thereto and any other documents filed with the SEC carefully and in their entirety when they become available because they will contain important information about Live Oak, the Company and the proposed transactions. For more than a decade, the Companys renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. The Companys technology can be found in a vast array of plastic end-use products that people use every day. Our New Facility 605 Rolling Hills Lane Winchester, KY 40391 . document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary NodaxTM brand name. However, while Live Oak and Danimer Scientific may elect to update these forward-looking statements at some point in the future, Live Oak and Danimer Scientific specifically disclaim any obligation to do so, except as required by law. . 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. 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. Danimer-made plastics need an incredible amount of bacteria to decompose, so the packaging can be shelf stable for years, the investor source said. Accordingly, undue reliance should not be placed upon the forward-looking statements. 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. The investor presentation will also be furnished today to the SEC, which can be viewed at the SECs website at www.sec.gov. Anyone whos seen the classic 1967 film The Graduate starring Dustin Hoffman knows that plastics are not normally a sexy business. Terms of Use. 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. 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. These funds are primarily comprised of cash from Live Oaks former trust account and concurrent equity private placements from institutional investors, including certain funds managed by affiliates of Apollo, Federated Hermes Kaufmann Small Cap Fund, and over $50 million from Live Oak affiliates. 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 is projecting just $51 million in 2020 revenue and is expected to break even this year. All statements, other than statements of present or historical fact included in this presentation, regarding Live Oaks proposed business combination with Danimer Scientific, Live Oaks ability to consummate the transaction, the benefits of the transaction and the combined companys future financial performance, as well as the combined companys strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. Our research-based approach to creating environmentally responsible solutions has attracted a blue chip, multinational customer base and our partnership with Live Oak will allow us to further scale production to meet strong customer demand for our technology. 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. Our New Facility 605 Rolling Hills Lane Winchester, KY 40391. Everything is focused on this is a possibility vs what is a reality and in reality they won't hit close to the total mark. Jefferies served as exclusive financial advisor, sole private placement agent and capital markets advisor to Live Oak. The common stock of Danimer Scientific will trade under the ticker symbol DNMR on the New York Stock Exchange beginning December 30, 2020. 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. 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. Accordingly, undue reliance should not be placed upon the forward-looking statements. Our New Facility 605 Rolling Hills Lane Winchester, KY 40391 . We are at an inflection point in our growth trajectory and this transaction will fuel the next phase of our rapid commercial expansion. Media We believe PHA has the ability to eliminate the pollution caused by single use plastics worldwide, a potentially remarkable achievement. A Reuters report at that time explained that it was the latest example of a company opting to go public by merging with a so-called special purpose acquisition company (SPAC)rather than through a traditional initial public offering (IPO). 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. Mayer Brown LLP served as legal counsel to Live Oak. The companys technology can be found in an array of plastic end-use products that people use every day. For more information, visitwww.DanimerScientific.com. 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. They showed us a Tide bottle they made that has been sitting on the shelf for 10 years.. Mayer Brown LLP is serving as legal advisor to Live Oak. 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. The Company now holds more than 150 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. Novomer is a leading developer of conversion technology providing inputs for the production of PHA-based resins and other biodegradable materials. Stay informed daily on the latest SPAC news. 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. 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/. 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 Companys technology can be found in a vast array of plastic end-use products that people use every day. We are well positioned to further expand our 100% biodegradable products to a wide range of plastic and specialty applications, with a long runway for profitable global growth., Rick Hendrix, Chief Executive Officer of Live Oak, commented: Danimer represents a unique and compelling investment opportunity with take-or-pay contracted revenue from a blue-chip client base for fully bio-degradable plastic resin that addresses one of the worlds most significant environmental challenges. Based on signed and pending contracts, the Company is fully sold out of all production in its Kentucky facility and will use its increased capital base to significantly increase production in seeking to meet the expected current and long-term demand of its customer base. 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. 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. 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. Second Quarter 2022 Earnings Presentation, Fourth Quarter 2021 Earnings Presentation, Second Quarter 2021 Earnings Presentation. Danimer is focused on the development and production of biodegradable materials. Danimer will continue to be led by Stephen E. Croskrey, Danimers current Chief Executive Officer. Stockholders, potential investors and other interested persons should read the Registration Statement carefully when it becomes available before making any voting or investment decisions. Given the company's ESG orientation, we'd like to see better diversity and inclusion metrics. 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 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. On Oct. 5, Danimer Scientific, a next-gen bioplastics company, agreed to merge with a Live Oak Acquisition, an NYSE-listed SPAC. 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 . Meredian Holdings Group, Inc., doing business as Danimer Scientific ("Legacy Danimer"), a next generation bioplastics company focused on the developme 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. We are at an inflection point in our growth trajectory and this transaction will fuel the next phase of our rapid commercial expansion. 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. The transaction was unanimously approved by the board of directors of Live Oak and at a special meeting of Live Oak stockholders on Dec. 28. 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. , a trading division of Informa PLC. 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. Stockholders, potential investors and other interested persons should read the Registration Statement carefully when it becomes available before making any voting or investment decisions. The SPAC deal offered a quicker route to public markets and the funding that Bainbridge, GAbased Danimer needed than a traditional IPO, said CEO Stephen Croskrey. 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. 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 will continue to be led by Stephen E. Croskrey, Danimers current Chief Executive Officer. Still, the bottles threaten to muck up recycling efforts if not disposed of properly, critics said. We are excited to partner with Live Oak and transition Danimer to be a public company, said Stephen E. Croskrey, Chief Executive Officer of Danimer. Danimers products return to nature instead of polluting our lands and waters. Our 20-acre campus with over 235,000 sqft of manufacturing space. For Danimer: Investors ir@danimer . Our vision for making a 100% renewable and biodegradable replacement for traditional plastics has now become a reality. 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. Copyright 2023. The transaction is expected to close in the second quarter. December 30, 2020, 10:48 AM. Affiliates of Live Oak have committed to purchasing over $50 million of the private investment. 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. Kane Kessler, PC is serving as legal counsel to Danimer. 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. 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. In addition, forward-looking statements reflect Danimer Scientifics expectations, plans, or forecasts of future events and views as of the date of this press release. Their presentation is completely filled to the brim with what ifs and what could be. 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.
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