danimer scientific spac investor presentationmicah morris golf net worth
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. 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. Accordingly, undue reliance should not be placed upon the forward-looking statements. 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. Mayer Brown LLP is serving as legal advisor to Live Oak. 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. 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;; 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. Danimers signature polymer Nodax PHA (polyhydroxyalkanoate) is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. 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. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. and the CEO alluded to pricing in the $2.50-$2.70/lb. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Danimer will continue to be led by Stephen E. Croskrey, Danimers current Chief Executive Officer. 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. Danimer is focused on the development and production of biodegradable materials. Live Oak and Danimer Scientific anticipate that subsequent events and developments will cause Live Oaks and Danimer Scientifics assessments to change. Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Their excitement centers on Danimers efforts to help large companies make throwaway plastic items straws, food containers, snack bags more environmentally friendly. 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. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Investors 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 Company now holds more than 150 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. Danimer is projecting just $51 million in 2020 revenue and is expected to break even this year. Investors Investors. 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. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary NodaxTM brand name. Legacy Danimers senior management team will continue to lead the now combined company. Kane Kessler, PC served as legal counsel to Danimer. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Affiliates of Live Oak have committed to purchasing over $50 million of the private investment. 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. 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. We've received your submission. 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. 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 Company now holds more than 150 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. Stockholders, potential investors and other interested persons should read the Registration Statement carefully when it becomes available before making any voting or investment decisions. 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. 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. Anyone whos seen the classic 1967 film The Graduate starring Dustin Hoffman knows that plastics are not normally a sexy business. Mayer Brown LLP served as legal counsel to Live Oak. Media Second Quarter 2022 Earnings Presentation, Fourth Quarter 2021 Earnings Presentation, Second Quarter 2021 Earnings Presentation. For more than a decade, the Company's renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. For more than a decade, the Companys renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. 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. Spruce Point Capital Management. 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. December 30, 2020, 10:48 AM. 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. But perhaps the biggest potential deal involves food and beverage giant Pepsi. In addition to serving as Chief Executive Officer of Danimer Scientific, Mr. Croskrey has been named Chairman of the Board. The transaction implies an equity valuation for Danimer of approximately $890 million at closing. 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. 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. Building Tomorrow's Sustainability: PHA . 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. We believe PHA has the ability to eliminate the pollution caused by single use plastics worldwide, a potentially remarkable achievement. In addition, forward-looking statements reflect Danimer Scientifics expectations, plans, or forecasts of future events and views as of the date of this press release. 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. Accordingly, undue reliance should not be placed upon the forward-looking statements. 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. Danimer Scientific is currently producing and shipping Nodax at a commercial scale level from its existing facility in Winchester, Kentucky.
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danimer scientific spac investor presentation