Shares of the combined company will list on the NEO Exchange under GLAS.U. Danimer Scientific Red Flagged by Investment Research Report (FREE) Danimer Scientific Headquarters . Accordingly, undue reliance should not be placed upon the forward-looking statements. All rights reserved. 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 delighted to complete this business combination to accelerate the Companys growth and create value for Danimer Scientifics team members, customers, shareholders and the environment.. Danimer-made plastics "need an incredible amount of bacteria. 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. Media Copyright 2021 Live Oak Acquisition Corporation - All Rights Reserved. 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. Morgan Stanley is serving as capital markets advisor to Live Oak. When available, these documents can be obtained free of charge from the sources indicated above. 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. Affiliates of Live Oak have committed to purchasing over $50 million of the private investment. Investors Investors. We are now fully financed to expand production capacity and meet the considerable expected demand from our blue chip, multinational customer base. The Company now holds more than 150 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. 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. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. The Company now holds more than 430 granted patents and pending patent applications in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. Our New Facility 605 Rolling Hills Lane Winchester, KY 40391. Danimer Scientific has grown to become recognized as one of the most advanced and innovative biotechnology companies in the world. 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. Copyright 2023. Web page addresses and e-mail addresses turn into links automatically. Morgan Stanley is serving as capital markets advisor to Live Oak. 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. Danimer Scientific to Acquire Biodegradable Polymer Producer Novomer 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. For those who are unable to listen to the live call, a replay will be available on the Live Oak website after the call athttps://www.liveoakacq.com/. Many actual events and circumstances are beyond the control of Danimer Scientific. 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. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary NodaxTMbrand name. Stay informed daily on the latest SPAC news. ir@danimer.com 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. 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. 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/. Investor Relations; Achieving Sustainability Today. For more than a decade, the Company's renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. Many actual events and circumstances are beyond the control of Live Oak and Danimer Scientific. 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. In addition to serving as Chief Executive Officer of Danimer Scientific, Mr. Croskrey has been named Chairman of the Board. 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. All SEC Filings :: Danimer Scientific (DNMR) 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.. Our 20-acre campus with over 235,000 sqft of manufacturing space. Building Tomorrow's Sustainability: PHA . 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. 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. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. In addition to serving as Chief Executive Officer of Danimer Scientific, Mr. Croskrey has been named Chairman of the Board. In connection with the closing, Live Oak changed its name to Danimer Scientific, Inc. (Danimer Scientific or the Company). One of Danimers eight directors will be PepsiCo Foods North America Senior Vice President and Controller Christy Basco, according to regulatory filings. ir@danimer.com Important Information and Where to Find It. 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 atwww.sec.gov. 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. We now hold 125 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. Our 20-acre campus with over 235,000 sqft of manufacturing space. Stay up to date with new solutions and our latest R&D. 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/. 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. RT=Real-Time, EOD=End of Day, PD=Previous Day. 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. 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 making the future of plastics possible, from compostable polymers for today's sustainable products to achieving 100% biodegradable bioplastics for tomorrow. Accordingly, undue reliance should not be placed upon the forward-looking statements. Danimer will continue to be led by Stephen E. Croskrey, Danimers current Chief Executive Officer. We've received your submission. Meredian Holdings Group, Inc., doing business as Danimer Scientific ("Legacy Danimer"), a next generation bioplastics company focused on the developme In anticipation of that happening, investors have sent Live Oaks stock up a massive 79 percent. INVESTORS Live Oak Acquisition Corp 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. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. Danimer Scientifics products return to nature instead of polluting our lands and waters. We are at an inflection point in our growth trajectory and this transaction will fuel the next phase of our rapid commercial expansion. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. About Us - Danimer Scientific In connection with the closing, Live Oak changed its name to Danimer Scientific, Inc. (Danimer Scientific or the Company). Live Oak and Danimer Scientific anticipate that subsequent events and developments will cause Live Oaks and Danimer Scientifics assessments to change. 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.
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