Danimer Scientific wants to enable people and communities to benefit from sustainable, environmentally friendly products that decompose seamlessly, leaving no traces of particulate matter or harmful footprint behind. 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 those who are unable to listen to the live call, a replay will be available on the Live Oak website after the call at https://www.liveoakacq.com/. 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. 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. 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 at www.sec.gov. 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. Nodax is the first PHA polymer to be certified as marine degradable, the highest standard of biodegradability. Warns Investors That Danimer Came Public Via A SPAC Promoted By An SEC-Sanctioned Former Broker and Has a Valuation Currently In Excess of $2 Billion Despite No Near-Term Path To Profitability . Affiliates of Live Oak have committed to purchasing over $50 million of the private investment. Morgan Stanley served as capital markets advisor to Live Oak. A Reuters report at that time explained that it was the latest example of a company opting to go public by merging with a so-called special purpose acquisition company (SPAC)rather than through a traditional initial public offering (IPO). Place Danimer packaging, though, in a landfill, or bury it outside and it will decompose in weeks without leaving microplastics behind. Danimer, PureCycle update investors The two SPAC firms, targeted by short sellers, give updates on production by Melody M. Bomgardner May 19, 2021 . Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. 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. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. 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. Investor Relations; Achieving Sustainability Today. 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. 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. Morgan Stanley is serving as capital markets advisor to Live Oak. BAINBRIDGE, GA and GREAT FALLS, VA December 29, 2020 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. BAINBRIDGE, GA and GREAT FALLS, VA - December 29, 2020 - 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 . 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. Meredian Holdings Group Inc., doing business as bioplastics company Danimer Scientific, and Danimer Scientific Inc., formerly known as Live Oak Acquisition Corp., announced on Dec. 29 that they have completed their previously announced business combination. 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. Our 20-acre campus with over 235,000 sqft of manufacturing space. For more information please visit https://www.liveoakacq.com/. Dunkin Brands is also test marketing the straws, which are blue, now in its restaurants, and Starbucks may soon do the same, sources said. Danimers products return to nature instead of polluting our lands and waters. Legacy Danimers senior management team will continue to lead the now combined company. 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. 2023-2033 2022-2032 2022-2032 2023-2043 . Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. 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 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, said Stephen E. Croskrey, Chief Executive Officer of Danimer Scientific. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. Live Oak Acquisition Corp. (LOAK) to Combine with Danimer Scientific in $525M Deal, Altimar III Adjourns Again without Extension Vote, Build Acquisition Announces Redemptions, Dissolution, Live Oak Mobility AcquisitionCancels Stockholder Meeting, will Dissolve, McLaren Technology Acquisition to Liquidate Today, Omeed Maliks SPAC Nears $200M Deal With Patriotic Marketplace PublicSq, SPACs Shift to More Obscure Exchanges to Keep Deal Dreams Going, Prison Phone Firm ViaPath Discusses Merging With Tristar SPAC, Lexasure Financial Combining with Capitalworks Emerging Markets Acquisition in $250M Deal, UpHealth SPAC Lawsuit Advances Against GigCapitals Avi Katz, Schultze SPAC Reportedly in Talks to Merge with Body Armor Maker Point Blank Enterprises, Promised Funding Means Nothing in SPAC Season of Discontent: Report, Mercer Park Brand Acquisition and Glass House Group to Combine for $567M into Largest Cannabis Brand-Building Platform in California, 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 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. Also of note: insider selling (insider sales totaling $1.6M of stock over the past 12 months, although these were mostly distributions out of Live Oak to its partners), and overboarding risk. Their presentation is completely filled to the brim with what ifs and what could be. 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. Terms of Use. Danimer has told investors it can eliminate 500 billion pounds of plastic waste out of the 800 billion pounds produced annually. Our customers view our Nodax PHA technology as a core component of their corporate sustainability strategy and a key vehicle to achieve their commitments of reducing plastic waste by making their plastic packaging fully biodegradable, Croskrey added. But a little-known plastics company set to list its shares on the New York Stock Exchange on Wednesday has Wall Street salivating thanks to technology being eyed by major companies like PepsiCo and Bacardi because it promises to turn plastic into dust. , a trading division of Informa PLC. 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. Danimer-made plastics need an incredible amount of bacteria to decompose, so the packaging can be shelf stable for years, the investor source said. Danimers current senior management team will continue to lead the Company after the transaction closes. 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. 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. All rights reserved. range on the year end conference call in March 2021 Morgan Stanley is serving as capital markets advisor to Live Oak. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. Stay up to date with new solutions and our latest R&D. Investorsir@danimer.comPhone: 229-220-1103MediaDanimerPR@icrinc.com. In addition to serving as Chief Executive Officer of Danimer Scientific, Mr. Croskrey has been named Chairman of the Board. 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.
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