danimer scientific spac investor presentation danimer scientific spac investor presentation

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 soda maker, which declined to comment, has vowed to make 100 percent of its packaging recoverable or recyclable by 2025. 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 . 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. Danimer Scientific anticipates that subsequent events and developments will cause Danimer Scientifics assessments to change. The Companys technology can be found in a vast array of plastic end-use products that people use every day. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. Danimer Scientific is currently producing and shipping Nodax at a commercial scale level from its existing facility in Winchester, Kentucky. The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. Overview; News & Events. Legacy Danimers senior management team will continue to lead the now combined company. 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. 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. 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, PureCycle update investors The two SPAC firms, targeted by short sellers, give updates on production by Melody M. Bomgardner May 19, 2021 . We believe PHA has the ability to eliminate the pollution caused by single use plastics worldwide, a potentially remarkable achievement. 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 will continue to be led by Stephen E. Croskrey, Danimers current Chief Executive Officer. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary Nodax TM brand name. Kane Kessler, PC served as legal counsel to Danimer. 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. Danimer Scientific is making the future of plastics possible, from compostable polymers for today's sustainable products to achieving 100% biodegradable bioplastics for tomorrow. 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. 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. 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. Affiliates of Live Oak have committed to purchasing over $50 million of the private investment. 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. Danimer Scientifics products return to nature instead of polluting our lands and waters. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. 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 now holds more than 430 granted patents and pending patent applications in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. 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. 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. 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. The Companys technology can be found in a vast array of plastic end-use products that people use every day. 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. 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. 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.. 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) itsAnnual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. And the Pepsi partnership is serious enough that the soda maker has acquired a 6 percent stake in Danimer, according to the investor presentation. 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. 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. 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. 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. Anyone whos seen the classic 1967 film The Graduate starring Dustin Hoffman knows that plastics are not normally a sexy business. 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/. Based on signed and pending contracts, the Company is fully sold out of all production in its Kentucky facility and will use its increased capital base to significantly increase production in seeking to meet the expected current and long-term demand of its customer base. Live Oak and Danimer Scientific anticipate that subsequent events and developments will cause Live Oaks and Danimer Scientifics assessments to change. 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.. Investor Relations; Achieving Sustainability Today. 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. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. Investors Nodax is the first PHA polymer to be certified as marine degradable, the highest standard of biodegradability. 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. 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. 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. 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. and the CEO alluded to pricing in the $2.50-$2.70/lb. 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. For more information, visitwww.DanimerScientific.com. 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. Kane Kessler, PC served as legal counsel to Danimer. 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. In connection with the closing, Live Oak changed its name to Danimer Scientific, Inc. (Danimer Scientific or the Company). The SPAC has said it will focus on the restaurant, hospitality, and related technology and services sectors. 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. 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. Market Data powered by QuoteMedia. 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/. According to Danimers release, the company is currently producing and shipping Nodax at commercial scale from its facility in Winchester, KY. We've received your submission. 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. 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. 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. When available, these documents can be obtained free of charge from the sources indicated above. In addition to serving as Chief Executive Officer, Mr. Croskrey will be named Chairman of the Board. 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. 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. Building Tomorrow's Sustainability: PHA . 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. The SPAC route gives us the speed that we need to get to that capital. We are now fully financed to expand production capacity and meet the considerable expected demand from our blue chip, multinational customer base. In addition to serving as Chief Executive Officer, Mr. Croskrey will be named Chairman of the Board. On Oct. 5, Danimer Scientific, a next-gen bioplastics company, agreed to merge with a Live Oak Acquisition, an NYSE-listed SPAC. 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. 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. For more information, visit www.DanimerScientific.com. 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. Click here to see our new facility in Winchester, KY and to learn more about our capabilities. Mayer Brown LLP served as legal counsel to Live Oak. 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. BAINBRIDGE, Ga. & GREAT FALLS, Va.--(BUSINESS WIRE)--Danimer Scientific (Danimer or the Company), a next generation bioplastics company focused on the development and production of biodegradable materials, and Live Oak Acquisition Corp. (NYSE: LOAK) (Live Oak), a publicly-traded special purpose acquisition company, announced today a definitive agreement for a business combination that would result in Danimer Scientific becoming a public company. 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. 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 Scientific is currently producing and shipping NodaxTM at a commercial scale level from its existing facility in Winchester, Kentucky. 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. The Companys technology can be found in a vast array of plastic end-use products that people use every day. The common stock of Danimer Scientific will trade under the ticker symbol DNMR on the New York Stock Exchange beginning December 30, 2020. Danimer has also told potential investors its partnership with disposable cup and straw maker WinCup has resulted in a two-year contract worth $27 million for the Phade line of disposable straws to be sold at Walmart. Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. The Companys signature polymer, Nodax PHA (polyhydroxyalkanoate), is a 100% biodegradable, renewable, and sustainable plastic produced using canola oil as a primary feedstock. Mayer Brown LLP is serving as legal advisor to Live Oak. The Company now holds more than 150 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. Our 20-acre campus with over 235,000 sqft of manufacturing space. Danimer Scientific is a pioneer in creating more sustainable, more natural ways to make plastic products sold under the proprietary NodaxTM brand name.