Danimer is focused on the development and production of biodegradable materials. 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. We are now fully financed to expand production capacity and meet the considerable expected demand from our blue-chip, multinational customer base. 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. In addition to the gross amount of approximately $200 million held in Live Oaks trust account (assuming no redemptions are effected), institutional investors, including certain funds managed by affiliates of Apollo Global Management, Inc. (NYSE:APO) (together with its consolidated subsidiaries, Apollo) and Federated Hermes Kaufmann Small Cap Fund, have committed to a private investment of $210 million in Class A common stock of the combined company that will close concurrently with the business combination. 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.. NEW YORK (Reuters) - Danimer Scientific said on Monday it has agreed to go public by merging with blank-check acquisition company with Live Oak Acquisition Corp LOAK.N in a deal which values. 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. Jefferies served as exclusive financial advisor, sole private placement agent and capital markets advisor to Live Oak. 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. We believe PHA has the ability to eliminate the pollution caused by single use plastics worldwide, a potentially remarkable achievement. 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. 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. The common stock of Danimer Scientific will trade under the ticker symbol DNMR on the New York Stock Exchange beginning December 30, 2020. 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. 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. Danimer Scientific anticipates that subsequent events and developments will cause Danimer Scientifics assessments to change. 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. Their presentation is completely filled to the brim with what ifs and what could be. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary NodaxTM brand name. Web page addresses and e-mail addresses turn into links automatically. Pepsi said in a footnote in its. Investor Relations; Achieving Sustainability Today. The bioplastics company was taken public in a $525 million SPAC deal at the end of . Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. 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. They adress their total addressable market instead of their realizeable market. Still, the bottles threaten to muck up recycling efforts if not disposed of properly, critics said. DanimerPR@icrinc.com, Internet Explorer presents a security risk. The risk is that all of these promising partnerships also turn to dust at a time when investors are factoring some $200 million in future contracts into the stocks valuation, which has doubled in recent weeks to $1.9 billion. 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. 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. 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.. All rights reserved. PepsiCo ( NASDAQ: PEP) appears to have sold a stake in green plastics company Danimer Scientific Inc. ( NYSE: DNMR ), according to Pepsi's latest 10-Q filing. 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. 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. Jefferies is serving as exclusive financial advisor, sole private placement agent and capital markets advisor to Live Oak. There is no agreement that they are going to give us 100 percent of their snack bag business, Danimer CEO Stephen Croskrey admitted before adding: I would certainly hope that we would be making all their snack bags.. 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. You cant tell the difference between them and regular plastic straws.. ir@danimer.com The Companys technology can be found in a vast array of plastic end-use products that people use every day. 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. Our 20-acre campus with over 235,000 sqft of manufacturing space. For more information, visit www.DanimerScientific.com. The companys technology can be found in an array of plastic end-use products that people use every day. We've received your submission. 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. Place Danimer packaging, though, in a landfill, or bury it outside and it will decompose in weeks without leaving microplastics behind. PO Box 122Syosset, NY 11791(516) 876-8006team@dealflowevents.com. 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). The investor presentation will also be furnished today to the SEC, which can be viewed at the SECs website atwww.sec.gov. 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 Scientific has numerous red flags, according to short-seller Ben Axler. 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. Live Oak and Danimer Scientific anticipate that subsequent events and developments will cause Live Oaks and Danimer Scientifics assessments to change. 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. 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. 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. Danimer is currently producing and shipping NodaxTM at an industrial scale level from its existing facility in Winchester, Kentucky. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Danimer makes PHA, a biodegrading plastic under its Nodax. Click here to learn more. 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. Interested parties may listen to the prepared remarks call via telephone by dialing 1-877-407-9208, or for international callers, 1-201-493-6784. Many actual events and circumstances are beyond the control of Danimer Scientific. 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 Scientific represents a unique and compelling ESG investment opportunity with what we believe is a clear path to profitable growth. 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. 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. Danimers products return to nature instead of polluting our lands and waters. 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. Danimer now holds more than 150 patents and pending patent applications in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. 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. Danimer Scientific is currently producing and shipping NodaxTM at a commercial scale level from its existing facility in Winchester, Kentucky. 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. 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. Danimer Scientific Headquarters 140 Industrial Boulevard Bainbridge, GA 39817. 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. 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. For more information, visit www.DanimerScientific.com. Danimer Scientific has grown to become recognized as one of the most advanced and innovative biotechnology companies in the world. Jefferies served as exclusive financial advisor, sole private placement agent and capital markets advisor to Live Oak. 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. Important Information and Where to Find It. 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. 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. 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/. 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. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. 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. Second Quarter 2022 Earnings Presentation, Fourth Quarter 2021 Earnings Presentation, Second Quarter 2021 Earnings Presentation. Market Data powered by QuoteMedia. 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. In addition to serving as Chief Executive Officer of Danimer Scientific, Mr. Croskrey has been named Chairman of the Board. Danimer Scientific to Begin Trading on the New York Stock Exchange Under DNMR. 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. Our 20-acre campus with over 235,000 sqft of manufacturing space. We now hold 125 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. 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. Stockholders, potential investors and other interested persons should read the Registration Statement carefully when it becomes available before making any voting or investment decisions. For more information please visithttps://www.liveoakacq.com/. 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 SPAC route gives us the speed that we need to get to that capital. 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/. On Oct. 5, Danimer Scientific, a next-gen bioplastics company, agreed to merge with a Live Oak Acquisition, an NYSE-listed SPAC. Live Oak and Danimer Scientific anticipate that subsequent events and developments will cause Live Oaks and Danimer Scientifics assessments to change. RT=Real-Time, EOD=End of Day, PD=Previous Day. 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. Phone: 229-220-1103 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 In its earlier investor presentation, in looking to quantify the addressable plastics market for Danimer, the company shared that currently 80% of plastics that are generated end up in the . 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. . For more information, visit www.DanimerScientific.com. 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. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary NodaxTM brand name. Danimer has told investors it can eliminate 500 billion pounds of plastic waste out of the 800 billion pounds produced annually. 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. Investors 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 Scientifics products return to nature instead of polluting our lands and waters. Stephen Croskrey, Danimer Scientific CEO joins Yahoo Finance Live to discuss the company's NYSE debut via SPAC and the . These funds are primarily comprised of cash from Live Oaks former trust account and concurrent equity private placements from institutional investors, including certain funds managed by affiliates of Apollo, Federated Hermes Kaufmann Small Cap Fund, and over $50 million from Live Oak affiliates. 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. Houlihan Lokey is serving as financial advisor to Danimer. The common stock of Danimer Scientific will trade under the ticker symbol DNMR on the New York Stock Exchange beginning December 30, 2020. Accordingly, undue reliance should not be placed upon the forward-looking statements. For more than a decade, the Companys renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. 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. 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. 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. Stay informed on the latest daily SPAC news. 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. Anyone whos seen the classic 1967 film The Graduate starring Dustin Hoffman knows that plastics are not normally a sexy business. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the respective management of Live Oak and Danimer Scientific and are not predictions of actual performance. Novomer is a leading developer of conversion technology providing inputs for the production of PHA-based resins and other biodegradable materials. 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. 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. 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. For more information please visit https://www.liveoakacq.com/. A SPAC is a shell company that raises cash in an IPO with the goal of buying an unidentified private company, usually within two years, in a deal that would then take the acquired company public. Investorsir@danimer.comPhone: 229-220-1103MediaDanimerPR@icrinc.com. 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 . Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. 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. If this decomposes on your shelf, you have much bigger problems, this person added.Daimer plans to use the funds from the merger to expand an existing plant and to build a new Kentucky plant.

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