RT=Real-Time, EOD=End of Day, PD=Previous Day. 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. 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. 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. 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. Affiliates of Live Oak have committed to purchasing over $50 million of the private investment. Still, the bottles threaten to muck up recycling efforts if not disposed of properly, critics said. 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. 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. 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. Our new location, the world's first commercial production facility for PHA. On Oct. 5, Danimer Scientific, a next-gen bioplastics company, agreed to merge with a Live Oak Acquisition, an NYSE-listed SPAC. 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. Stay up to date with new solutions and our latest R&D. Registered in England and Wales. 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 TM brand name. 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. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. 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. For more information please visit https://www.liveoakacq.com/. 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. 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 . Terms of Use. 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. 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. 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. Live Oak and Danimer Scientific anticipate that subsequent events and developments will cause Live Oaks and Danimer Scientifics assessments to change. 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. DealFlow Financial Products, Inc. (d/b/a DealFlow Events). Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary Nodax brand name. ir@danimer.com For more information, visitwww.DanimerScientific.com. Spruce Point Capital Management. 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. 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. 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. 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. Investor Relations; Achieving Sustainability Today. 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. 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. Terms of Use. In addition to serving as Chief Executive Officer of Danimer Scientific, Mr. Croskrey has been named Chairman of the Board. Their expertise and technology are expected to help us produce resins at a lower cost for a broader range of customer needs. Legacy Danimers senior management team will continue to lead the now combined company. Meredian Holdings Group, Inc., doing business as Danimer Scientific ("Legacy Danimer"), a next generation bioplastics company focused on the developme 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. 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. They showed us a Tide bottle they made that has been sitting on the shelf for 10 years.. 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 NodaxTMbrand name. 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. More information on potential factors that could affect our financial results is included from time to time in Live Oaks public reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. 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. 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: . For more than a decade, the Companys renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. Danimer will continue to be led by Stephen E. Croskrey, Danimers current Chief Executive Officer. Danimer Scientific has grown to become recognized as one of the most advanced and innovative biotechnology companies in the world. Danimer has told investors it can eliminate 500 billion pounds of plastic waste out of the 800 billion pounds produced annually. All rights reserved. The Company now holds more than 150 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. Liquor company Bacardi on Oct. 23 said it teamed up with Danimer to make its spirits bottles out of biodegradable material by 2023 a conversion that would eliminate the 3,000 tons of plastic its 80 million bottles produce annually. We are excited to become a publicly traded company and enter the next phase of growth as we broaden the reach of our remarkable Nodax technology.. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. 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. 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. Market Data copyright 2023 QuoteMedia. Our vision for making a 100% renewable and biodegradable replacement for traditional plastics has now become a reality. The common stock of Danimer Scientific will trade under the ticker symbol DNMR on the New York Stock Exchange beginning December 30, 2020. 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 transaction was unanimously approved by the board of directors of Live Oak and at a special meeting of Live Oak stockholders on Dec. 28. 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. 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 athttp://www.sec.gov, or by directing a request to: Live Oak Acquisition Corp., 774A Walker Rd, Great Falls, VA 22066 or (901) 985-2865. Investor Relations; Achieving Sustainability Today. Investorsir@danimer.comPhone: 229-220-1103MediaDanimerPR@icrinc.com. Many actual events and circumstances are beyond the control of Live Oak and Danimer Scientific. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary NodaxTM brand name. 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.. No company has made these kinds of bioplastics on a mass scale, sources said. The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. 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. 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. In connection with the closing, Live Oak changed its name to Danimer Scientific, Inc. (Danimer Scientific or the Company). 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 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. Danimer Scientific anticipates that subsequent events and developments will cause Danimer Scientifics assessments to change. The soda maker, which declined to comment, has vowed to make 100 percent of its packaging recoverable or recyclable by 2025. Second Quarter 2022 Earnings Presentation, Fourth Quarter 2021 Earnings Presentation, Second Quarter 2021 Earnings Presentation. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Anyone whos seen the classic 1967 film The Graduate starring Dustin Hoffman knows that plastics are not normally a sexy business. Accordingly, undue reliance should not be placed upon the forward-looking statements. All rights reserved. Kane Kessler, PC served as legal counsel to Danimer. 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/. Danimer makes PHA, a biodegrading plastic under its Nodax. 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. We believe Danimer is poised for rapid and sustained growth with a fully financed capacity expansion plan and proprietary customer applications.. 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.. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. Market Data powered by QuoteMedia. Months before going public via special purpose acquisition company ("SPAC") in December 2020, promoted by Gary Wunderlich, an SEC sanctioned individual, Danimer settled a messy lawsuit with former CEO Paul Pereira. 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. Lines and paragraphs break automatically. The transaction is expected to close in the second quarter. Morgan Stanley is serving as capital markets advisor to Live Oak. Many actual events and circumstances are beyond the control of Live Oak and Danimer Scientific. The common stock of Danimer Scientific will trade under the ticker symbol DNMR on the New York Stock Exchange beginning December 30, 2020. When available, these documents can be obtained free of charge from the sources indicated above. 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 Stay informed daily on the latest SPAC news. The transaction implies an equity valuation for Danimer of approximately $890 million at closing. Danimers products return to nature instead of polluting our lands and waters. The SPAC route gives us the speed that we need to get to that capital. Danimer Scientific to Begin Trading on the New York Stock Exchange Under "DNMR". 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. December 30, 2020, 10:48 AM. We've received your submission. Danimer, PureCycle update investors The two SPAC firms, targeted by short sellers, give updates on production by Melody M. Bomgardner May 19, 2021 . 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 Scientific, a maker of biodegradable, bacteria-grown plastics, is set to go public via a merger with Live Oak Acquisition (ticker: LOAK), a special purpose acquisition company, or SPAC. Danimer Scientific anticipates that subsequent events and developments will cause Danimer Scientifics assessments to change. We are excited to partner with Live Oak and transition Danimer to be a public company. Danimer Scientific has numerous red flags, according to short-seller Ben Axler. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Danimer is focused on the development and production of biodegradable materials. 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. You cant tell the difference between them and regular plastic straws.. 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. Morgan Stanley is serving as capital markets advisor to Live Oak. A more detailed description of the transaction can be found in the proxy statement/prospectus filed with the U.S. Securities and Exchange Commission (SEC) on December 16, 2020 by Live Oak. Mayer Brown LLP is serving as legal advisor to Live Oak. 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. The Companys technology can be found in a vast array of plastic end-use products that people use every day. 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. Danimers products return to nature instead of polluting our lands and waters. For more than a decade, the Company's. Their excitement centers on Danimers efforts to help large companies make throwaway plastic items straws, food containers, snack bags more environmentally friendly. Danimer Scientific Chief Executive Officer Stephen Croskrey discusses the trading debut of the firm's initial public offering, investment plans, and expansion efforts on "Bloomberg Markets . Danimer Scientific, Inc. (NYSE: DNMR) ("Danimer" or the "Company"), a leading next generation bioplastics company focused on the development and produ . Their presentation is completely filled to the brim with what ifs and what could be. 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. 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. In anticipation of that happening, investors have sent Live Oaks stock up a massive 79 percent. Now with certified production figures from Danimer, we estimate PHA Average Selling Prices (ASPs) are overstated by 30% - 42% Danimer's October 2020 Investor Presentation implied PHA ASPs of $3.00/lb. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). 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. 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. The Company now holds more than 150 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. Danimers signature polymer Nodax PHA (polyhydroxyalkanoate) is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. 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. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. The SPAC said it would present a plan to regain compliance. 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. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. Click here to learn more. Media Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. Press Releases; IR Calendar; Company Info. 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. Danimer Scientifics products return to nature instead of polluting our lands and waters.