And the Pepsi partnership is serious enough that the soda maker has acquired a 6 percent stake in Danimer, according to the investor presentation. ir@danimer.com All rights reserved. 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. Mayer Brown LLP is serving as legal advisor to Live Oak. 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. In its earlier investor presentation, in looking to quantify the addressable plastics market for Danimer, the company shared that currently 80% of plastics that are generated end up in the . For more than a decade, the Company's. Market Data copyright 2023 QuoteMedia. 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. 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. RT=Real-Time, EOD=End of Day, PD=Previous Day. 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. Pepsi said in a footnote in its. Place Danimer packaging, though, in a landfill, or bury it outside and it will decompose in weeks without leaving microplastics behind. 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. 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. 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. 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. There is no silver bullet, a Danimer supporter countered. Applications for Danimers biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statementsinclude, 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. Danimer Scientific is making the future of plastics possible, from compostable polymers for today's sustainable products to achieving 100% biodegradable bioplastics for tomorrow. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. We are now fully financed to expand production capacity and meet the considerable expected demand from our blue chip, multinational customer base. Danimer Scientific anticipates that subsequent events and developments will cause Danimer Scientifics assessments to change. Source: Danimer Investor Presentation. Building Tomorrow's Sustainability: PHA . 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. Important Information and Where to Find It. We believe PHA has the ability to eliminate the pollution caused by single use plastics worldwide, a potentially remarkable achievement. One of Danimers eight directors will be PepsiCo Foods North America Senior Vice President and Controller Christy Basco, according to regulatory filings. 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. 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. 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. 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. All statements, other than statements of present or historical fact included in this presentation, regarding Live Oaks business combination with Danimer Scientific, 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. But perhaps the biggest potential deal involves food and beverage giant Pepsi. 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. For more than a decade, the Company's renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Danimer now holds more than 150 patents and pending patent applications in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. Market Data powered by QuoteMedia. 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. DanimerPR@icrinc.com, Internet Explorer presents a security risk. Legacy Danimers senior management team will continue to lead the now combined company. Our 20-acre campus with over 235,000 sqft of manufacturing space. 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. Overview; News & Events. 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. Kane Kessler, PC is serving as legal counsel to Danimer. 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. According to Danimers release, the company is currently producing and shipping Nodax at commercial scale from its facility in Winchester, KY. 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. The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. 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. Copyright 2023. Danimer has also told potential investors its partnership with disposable cup and straw maker WinCup has resulted in a two-year contract worth $27 million for the Phade line of disposable straws to be sold at Walmart. You cant tell the difference between them and regular plastic straws.. The material will fully degrade in ocean water without leaving behind harmful microplastics, said Danimer. Danimer Scientific is currently producing and shipping Nodax at a commercial scale level from its existing facility in Winchester, Kentucky. Kane Kessler, PC is serving as legal counsel to Danimer. 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. Press Releases; IR Calendar; Company Info. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. 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. The SPAC route gives us the speed that we need to get to that capital. 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 is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. Market Data powered by QuoteMedia. In connection with the closing, Live Oak changed its name to Danimer Scientific, Inc. (Danimer Scientific or the Company). Many actual events and circumstances are beyond the control of Live Oak and Danimer Scientific. For more information please visit https://www.liveoakacq.com/. 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. Danimer Scientifics products return to nature instead of polluting our lands and waters. Stephen Croskrey, Danimer Scientific CEO joins Yahoo Finance Live to discuss the company's NYSE debut via SPAC and the . 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. We are now fully financed to expand production capacity and meet the considerable expected demand from our blue chip, multinational customer base. We believe PHA has the ability to eliminate the pollution caused by single use plastics worldwide, a potentially remarkable achievement. Danimer Scientific represents a unique and compelling ESG investment opportunity with what we believe is a clear path to profitable growth. Danimer Scientific to Begin Trading on the New York Stock Exchange Under DNMR. 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.

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