Danimer Scientifics products return to nature instead of polluting our lands and waters. 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. 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. Stockholders, potential investors and other interested persons should read the Registration Statement carefully when it becomes available before making any voting or investment decisions. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Investors Investors. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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. 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. The Companys technology can be found in a vast array of plastic end-use products that people use every day. 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. 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. RT=Real-Time, EOD=End of Day, PD=Previous Day. Dunkin Brands is also test marketing the straws, which are blue, now in its restaurants, and Starbucks may soon do the same, sources said. 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. 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 Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. 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. 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. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. If all works out as planned, sources said, Pepsi plans to convert all of its snack brands, including Doritos, Fritos and Lays potato chips, to Danimer Plastics bags. The Company now holds more than 150 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. 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. 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. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary Nodax brand name. 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. Place Danimer packaging, though, in a landfill, or bury it outside and it will decompose in weeks without leaving microplastics behind. 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. Danimers products return to nature instead of polluting our lands and waters. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. We are at an inflection point in our growth trajectory and this transaction will fuel the next phase of our rapid commercial expansion. 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. 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. For Danimer: Investors ir@danimer . Danimer Scientific is currently producing and shipping Nodax at a commercial scale level from its existing facility in Winchester, Kentucky. As a result, Nodax 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, according to the company. 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. The Companys technology can be found in a vast array of plastic end-use products that people use every day. Danimer is also working on a deal to develop plastic bottles for Nestls Pure Life water brand. Danimer-made plastics need an incredible amount of bacteria to decompose, so the packaging can be shelf stable for years, the investor source said. Danimer Scientific to Begin Trading on the New York Stock Exchange Under "DNMR". Morgan Stanley is serving as capital markets advisor to Live Oak. Market Data copyright 2023 QuoteMedia. The Company now holds more than 150 patents and pending patent applications in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. Danimer has told investors it can eliminate 500 billion pounds of plastic waste out of the 800 billion pounds produced annually. 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. Our New Facility 605 Rolling Hills Lane Winchester, KY 40391 . 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. Many actual events and circumstances are beyond the control of Live Oak and Danimer Scientific. 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 Terms of Use. Pepsi said in a footnote in its. Many actual events and circumstances are beyond the control of Danimer Scientific. 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. Meredian Holdings Group, Inc., doing business as Danimer Scientific ("Legacy Danimer"), a next generation bioplastics company focused on the developme But perhaps the biggest potential deal involves food and beverage giant Pepsi. 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. 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. 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. 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. No company has made these kinds of bioplastics on a mass scale, sources said. More information on potential factors that could affect our financial results is included from time to time in Danimer Scientifics public reports filed with the Securities and Exchange Commission, including (when available) its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Anyone whos seen the classic 1967 film The Graduate starring Dustin Hoffman knows that plastics are not normally a sexy business. 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. For more information, visit www.DanimerScientific.com. 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. 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. The transaction was unanimously approved by the board of directors of Live Oak and was approved at a special meeting of Live Oak stockholders on December 28, 2020. Stockholders, potential investors and other interested persons should read the Registration Statement carefully when it becomes available before making any voting or investment decisions. Jefferies served as exclusive financial advisor, sole private placement agent and capital markets advisor to Live Oak. 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. The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. Number 8860726. 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. 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. 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. Danimers products return to nature instead of polluting our lands and waters. Live Oak raised $200 million in May 2020 and its securities are listed on the NYSE under the tickers LOAK, LOAK.U and LOAK WS. Live Oak Acquisition Corp. is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Danimer is currently producing and shipping NodaxTM at an industrial scale level from its existing facility in Winchester, Kentucky. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary NodaxTM brand name. 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.