Stay up to date with new solutions and our latest R&D. We believe Danimer is poised for rapid and sustained growth with a fully financed capacity expansion plan and proprietary customer applications.. In connection with the closing, Live Oak changed its name to Danimer Scientific, Inc. (Danimer Scientific or the Company). Danimer Scientific: Bioplastics Player With Upside - SeekingAlpha Many actual events and circumstances are beyond the control of Live Oak and Danimer Scientific. The company has partnered with key plastics manufacturers and consumer products companies such as PepsiCo, Nestl, Genpak, WinCup, Columbia Packaging Group and Plastic Suppliers Inc. as they transition a wide variety of plastic applications, including straws, food and beverage containers, flexible packaging, agricultural and medical applications, among others. Our 20-acre campus with over 235,000 sqft of manufacturing space. Stay informed daily on the latest SPAC news. LOAK/Danimer scientific : SPACs - reddit 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 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. 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 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. We just dont have time to start a traditional IPO process right now, Croskrey said in an interview with Reuters in October. Formerra, Danimer Scientific Announce Sustainable Materials Distribution Relationship, Danimer Scientific Announces Third Quarter 2022 Results, Danimer Scientific to Attend Baird Global Industrial Conference. Many actual events and circumstances are beyond the control of Danimer Scientific. 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. Copyright 2021 Live Oak Acquisition Corporation - All Rights Reserved. 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. Danimer is also working on a deal to develop plastic bottles for Nestls Pure Life water brand. Danimer will continue to be led by Stephen E. Croskrey, Danimers current Chief Executive Officer. Danimer Scientific to Acquire Biodegradable Polymer Producer Novomer Their excitement centers on Danimers efforts to help large companies make throwaway plastic items straws, food containers, snack bags more environmentally friendly. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. . Mayer Brown LLP served as legal counsel to Live Oak. 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. The common stock of Danimer Scientific will trade under the ticker symbol DNMR on the New York Stock Exchange beginning December 30, 2020. Jefferies is serving as exclusive financial advisor, sole private placement agent and capital markets advisor to Live Oak. 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. 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. Danimer is currently producing and shipping NodaxTMat an industrial scale level from its existing facility in Winchester, Kentucky. 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. Market Data copyright 2023 QuoteMedia. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. 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 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. Houlihan Lokey served as financial advisor to Danimer. 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. 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. Meeting todays sustainability needs, our R&D and manufacturing services help companies move from reliance on petrochemical plastics to completely compostable resins through PLA modifications, tolling and converting services and more. 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. When available, these documents can be obtained free of charge from the sources indicated above. 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. Live Oak and Danimer Scientific anticipate that subsequent events and developments will cause Live Oaks and Danimer Scientifics assessments to change. Danimer is focused on the development and production of biodegradable materials. Danimer Investment Highlights: 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 Number 8860726. Accordingly, undue reliance should not be placed upon the forward-looking statements. 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 is serving as exclusive financial advisor, sole private placement agent and capital markets advisor to Live Oak. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Danimer Shares Grossly Overvalued. Spruce Point report Update 1 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. Home - Danimer Scientific 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. 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. Overview; News & Events. 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. Market Data powered by QuoteMedia. For more information, visit www.DanimerScientific.com. The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. Presentations :: Danimer Scientific (DNMR) The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. Mayer Brown LLP is serving as legal advisor to Live Oak. Danimer Scientific shares jump in SPAC debut - Yahoo! 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. Danimer Scientific Red Flagged by Investment Research Report (FREE) U.S. bioplastics firm Danimer agrees $890 million deal to go public They adress their total addressable market instead of their realizeable market. Stockholders, potential investors and other interested persons should read the Registration Statement carefully when it becomes available before making any voting or investment decisions. 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. Bioplastics Company Danimer Scientific Goes Public Via SPAC Terms of Use. Web page addresses and e-mail addresses turn into links automatically. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. The SPAC has said it will focus on the restaurant, hospitality, and related technology and services sectors. Danimer is projecting just $51 million in 2020 revenue and is expected to break even this year. Danimers products return to nature instead of polluting our lands and waters. 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. We are at an inflection point in our growth trajectory and this transaction will fuel the next phase of our rapid commercial expansion. Affiliates of Live Oak have committed to purchasing over $50 million of the private investment. INVESTORS Live Oak Acquisition Corp 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. 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. For more information please visit https://www.liveoakacq.com/. Danimers products return to nature instead of polluting our lands and waters. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). 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. 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. The Companys technology can be found in a vast array of plastic end-use products that people use every day. Danimers current senior management team will continue to lead the Company after the transaction closes. 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. 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. Ride the Trend of Bioplastics With This Upcoming SPAC Merger 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. 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.