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. 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. Danimers products return to nature instead of polluting our lands and waters. Building Tomorrow's Sustainability: PHA . The investor presentation will also be furnished today to the SEC, which can be viewed at the SECs website atwww.sec.gov. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. 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. Accordingly, undue reliance should not be placed upon the forward-looking statements. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). 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/. 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. Danimer Scientific has entered into a definitive merger agreement with Live Oak Acquisition Corp. (NYSE: LOAK) Contact Us Compostable Solutions Customized Polymers Current Products PHA: Beginning of Life Applications for PHA PHA: End of Life PHA Certifications New Manufacturing Plant Toll Manufacturing Our Commitment to Sustainability 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. 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. Terms of Use. Danimer Scientific to Begin Trading on the New York Stock Exchange Under "DNMR". Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. We are now fully financed to expand production capacity and meet the considerable expected demand from our blue-chip, multinational customer base. On Oct. 5, Danimer Scientific, a next-gen bioplastics company, agreed to merge with a Live Oak Acquisition, an NYSE-listed SPAC. 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. BAINBRIDGE, Ga. & GREAT FALLS, Va.(BUSINESS WIRE)Danimer Scientific (Danimer or the Company), a next generation bioplastics company focused on the development and production of biodegradable materials, and Live Oak Acquisition Corp. (NYSE: LOAK) (Live Oak), a publicly-traded special purpose acquisition company, announced today a definitive agreement for a business combination that would result in Danimer Scientific becoming a public company. Our New Facility 605 Rolling Hills Lane Winchester, KY 40391. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary NodaxTMbrand name. 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. Upon closing of the transaction, Rick Hendrix, Chief Executive Officer of Live Oak, will join Danimers Board, and John Amboian, Non-Executive Chairman of Live Oak, will serve on the Board as Lead Independent Director. Important Information and Where to Find It. Kane Kessler, PC is serving as legal counsel to Danimer. Stay up to date with new solutions and our latest R&D. 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. They adress their total addressable market instead of their realizeable market. We are now fully financed to expand production capacity and meet the considerable expected demand from our blue chip, multinational customer base. 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. 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. 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. 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. 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. 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/. When available, these documents can be obtained free of charge from the sources indicated above. In addition to serving as Chief Executive Officer, Mr. Croskrey will be named Chairman of the Board. Novomer is a leading developer of conversion technology providing inputs for the production of PHA-based resins and other biodegradable materials. You cant tell the difference between them and regular plastic straws.. Upon closing of the transaction, the combined company will be renamed Danimer Scientific and is expected to remain listed on the NYSE under a new ticker symbol. Meredian Holdings Group, Inc., doing business as Danimer Scientific ("Legacy Danimer"), a next generation bioplastics company focused on the developme The transaction is expected to close in the second quarter. 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. In addition to Pepsi, other current Danimer investors include David Einhorns Greenlight Capital, whose 2019 investment is now on track for a sixfold return, sources said.As Danimer grows, it could face pushback from the recycling industry because its bottles melt in heat, which makes them non-recyclable. 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. For more than a decade, the Companys renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. Overview; News & Events. Market Data powered by QuoteMedia. Lines and paragraphs break automatically. 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. The common stock of Danimer Scientific will trade under the ticker symbol DNMR on the New York Stock Exchange beginning December 30, 2020. Danimers current senior management team will continue to lead the Company after the transaction closes. 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. 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. 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. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary Nodax TM brand name. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). 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. 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 SPAC has said it will focus on the restaurant, hospitality, and related technology and services sectors. 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. BAINBRIDGE, Ga. & GREAT FALLS, Va.--(BUSINESS WIRE)--Danimer Scientific (Danimer or the Company), a next generation bioplastics company focused on the development and production of biodegradable materials, and Live Oak Acquisition Corp. (NYSE: LOAK) (Live Oak), a publicly-traded special purpose acquisition company, announced today a definitive agreement for a business combination that would result in Danimer Scientific becoming a public company. If this decomposes on your shelf, you have much bigger problems, this person added.Daimer plans to use the funds from the merger to expand an existing plant and to build a new Kentucky plant. 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 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. In connection with the closing, Live Oak changed its name to Danimer Scientific, Inc. (Danimer Scientific or the Company). The material will fully degrade in ocean water without leaving behind harmful microplastics, said Danimer. Phone: 229-220-1103, Internet Explorer presents a security risk. Our New Facility 605 Rolling Hills Lane Winchester, KY 40391 . For more information, visit www.DanimerScientific.com. Jefferies is serving as exclusive financial advisor, sole private placement agent and capital markets advisor to Live Oak. 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 Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary NodaxTM brand name. 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. Danimers products return to nature instead of polluting our lands and waters. 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. For more than a decade, the Company's renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. Copyright 2023. 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. 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. 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. According to Danimers release, the company is currently producing and shipping Nodax at commercial scale from its facility in Winchester, KY. Houlihan Lokey is serving as financial advisor to Danimer. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. Their presentation is completely filled to the brim with what ifs and what could be. 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. Bioplastics Company Danimer Scientific Goes Public Via SPAC, Toilet Paper Dumps PFAS Chemicals into Wastewater, Researchers Find, Plstico Brasil Returns to So Paulo Expo for Live Event, Solvay and Airborne Receive Funding for Composite Alternative to Metal Battery Enclosures, Comparison of Crystallization Behavior of Different Colored Parts Made from Polypropylene Using a Single DSC Experiment, Carrots Are Good for Your Eyes and for Biodegradable Biopolymers, Monthly Resin Report: Lingering Plant Outages Disrupt PE, PP Supply in February, Medtech in a Minute: Philips Managers Kiss Bonuses Goodbye, and More, Allowed HTML tags: . 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. Terms of Use. Danimer Scientifics products return to nature instead of polluting our lands and waters. Many actual events and circumstances are beyond the control of Live Oak and Danimer Scientific. range on the year end conference call in March 2021 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. The SPAC said it would present a plan to regain compliance. The Companys technology can be found in a vast array of plastic end-use products that people use every day. Stay informed on the latest daily SPAC news. 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. The Companys technology can be found in a vast array of plastic end-use products that people use every day. 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. 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 anticipates that subsequent events and developments will cause Danimer Scientifics assessments to change. Danimer-made plastics "need an incredible amount of bacteria. For more than a decade, the Companys renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary Nodax brand name. Our customers view our Nodax PHA technology as a core component of their corporate sustainability strategy and a key vehicle to achieve their ESG commitments of reducing plastic waste by making their plastic packaging fully biodegradable. 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. Formerra, Danimer Scientific Announce Sustainable Materials Distribution Relationship, Danimer Scientific Announces Third Quarter 2022 Results, Danimer Scientific to Attend Baird Global Industrial Conference. Stay informed daily on the latest SPAC news. Presentations :: Danimer Scientific (DNMR) Contact Us Presentations Overview News & Events Company Info Financial Info Stock Data SEC Filings Governance Financial Info Financial Results Presentations Sep 12, 2022 Investor Presentation September 2022 Aug 9, 2022 Second Quarter 2022 Earnings Presentation May 18, 2022 Investor Presentation May 2022 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.
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