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Danimer will continue to be led by Stephen E. Croskrey, Danimers current Chief Executive Officer. Our New Facility 605 Rolling Hills Lane Winchester, KY 40391 . Danimer Scientific's plastic technology attracts investors - New York Post 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. Our new location, the world's first commercial production facility for PHA. Number 8860726. 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. Kane Kessler, PC served as legal counsel to Danimer. Overview; News & Events. 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 Danimer Scientifics expectations, plans, or forecasts of future events and views as of the date of this press release. Houlihan Lokey is serving as financial advisor to Danimer. 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 supporters argue that roughly 75 percent of plastic bottles now end up in bacteria-filled landfills, and that those that go to recycling centers will still not leave an environmental footprint since they will melt and disintegrate. ir@danimer.com Danimer Scientific shares jump in SPAC debut - Yahoo! The Company now holds more than 150 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. Danimer is focused on the development and production of biodegradable materials. 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. 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. Danimer Scientific, a Next Generation Bioplastics Company, Completes 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. Danimer Scientific timeline by IDTechEx 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 Bioplastics Company Danimer Scientific Goes Public Via SPAC Morgan Stanley served as 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. Based on signed and pending contracts, Danimer is fully sold out of all production in its Kentucky facility and will use its increased capital base to significantly increase production to meet expected current and long-term demand, said Danimer. Anyone whos seen the classic 1967 film The Graduate starring Dustin Hoffman knows that plastics are not normally a sexy business. The transaction implies an equity valuation for Danimer of approximately $890 million at closing. Danimer Scientific, a Next Generation Bioplastics Company, 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;; 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's CEO on How Bioplastics Can Help Save the World Investors Investors. The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. In addition to serving as Chief Executive Officer, Mr. Croskrey will be named Chairman of the Board. Given the company's ESG orientation, we'd like to see better diversity and inclusion metrics. 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 has grown to become recognized as one of the most advanced and innovative biotechnology companies in the world. 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. 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. 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. We are now fully financed to expand production capacity and meet the considerable expected demand from our blue-chip, multinational customer base. 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. For more than a decade, the Company's renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. By utilizing Nodax, the brand owners and plastics converters that we work with can develop innovative solutions to their plastic packaging that help them meet their sustainability goals. 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.