. In addition to serving as Chief Executive Officer, Mr. Croskrey will be named Chairman of the Board. 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. 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. range on the year end conference call in March 2021 No company has made these kinds of bioplastics on a mass scale, sources said. Legacy Danimers senior management team will continue to lead the now combined company. For more than a decade, the Companys renewable and sustainable biopolymers have helped create plastic products that are 100% biodegradable and compostable. We believe PHA has the ability to eliminate the pollution caused by single use plastics worldwide, a potentially remarkable achievement. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). The transaction implies an equity valuation for Danimer of approximately $890 million at closing. In connection with the closing, Live Oak changed its name to Danimer Scientific, Inc. (Danimer Scientific or the Company). Accordingly, undue reliance should not be placed upon the forward-looking statements. Danimers current senior management team will continue to lead the Company after the transaction closes. 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. 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 companys technology can be found in an array of plastic end-use products that people use every day. The Companys technology can be found in a vast array of plastic end-use products that people use every day. 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.. Danimer is projecting just $51 million in 2020 revenue and is expected to break even this year. For more information please visit https://www.liveoakacq.com/. DanimerPR@icrinc.com, Internet Explorer presents a security risk. Danimer Scientific represents a unique and compelling ESG investment opportunity with what we believe is a clear path to profitable growth. 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. Investor Relations; Achieving Sustainability Today. 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. I have a bunch of the straws, one investor source told The Post. Accordingly, undue reliance should not be placed upon the forward-looking statements. Mayer Brown LLP served as legal counsel to Live Oak. 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. 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. Danimer has told investors it can eliminate 500 billion pounds of plastic waste out of the 800 billion pounds produced annually. 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. 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. 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. 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. In addition to serving as Chief Executive Officer of Danimer Scientific, Mr. Croskrey has been named Chairman of the Board. Danimers products return to nature instead of polluting our lands and waters. Legacy Danimers senior management team will continue to lead the now combined company. December 30, 2020, 10:48 AM. 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. Market Data copyright 2023 QuoteMedia. 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. Live Oak and Danimer Scientific anticipate that subsequent events and developments will cause Live Oaks and Danimer Scientifics assessments to change. 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. In addition to serving as Chief Executive Officer of Danimer Scientific, Mr. Croskrey has been named Chairman of the Board. 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. We believe Danimer is poised for rapid and sustained growth with a fully financed capacity expansion plan and proprietary customer applications.. Our New Facility 605 Rolling Hills Lane Winchester, KY 40391 . 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. Their excitement centers on Danimers efforts to help large companies make throwaway plastic items straws, food containers, snack bags more environmentally friendly. 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. 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. 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. Our 20-acre campus with over 235,000 sqft of manufacturing space. Danimers products return to nature instead of polluting our lands and waters. For more information, visitwww.DanimerScientific.com. 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. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. According to Danimers release, the company is currently producing and shipping Nodax at commercial scale from its facility in Winchester, KY. 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. 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. Click here to see our new facility in Winchester, KY and to learn more about our capabilities. Terms of Use. Important Information and Where to Find It. 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. 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. 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. Press Releases; IR Calendar; Company Info. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. 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. Kane Kessler, PC served as legal counsel to Danimer. We are at an inflection point in our growth trajectory and this transaction will fuel the next phase of our rapid commercial expansion. 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. 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. 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. You cant tell the difference between them and regular plastic straws.. 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. 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. The SPAC has said it will focus on the restaurant, hospitality, and related technology and services sectors. Danimer Scientific is a pioneer in creating environmentally responsible and natural alternative solutions to traditional petroleum-based resins. The Company now holds more than 150 patents in nearly 20 countries for a range of manufacturing processes and biopolymer formulations. Morgan Stanley is serving as capital markets advisor to Live Oak. 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. 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. 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. 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. Houlihan Lokey is serving as financial advisor to Danimer. Media Applications for our biopolymers include additives, aqueous coatings, fibers, filaments, films, and injection-molded articles, among others. It is anticipated that the combined company will have approximately $385 million of unrestricted cash on the balance sheet to fully fund future, planned growth, including the expansion of its current facility and the build out of its contemplated greenfield facility. Many actual events and circumstances are beyond the control of Danimer Scientific. We just dont have time to start a traditional IPO process right now, Croskrey said in an interview with Reuters in October. The Companys technology can be found in a vast array of plastic end-use products that people use every day. For more information, visit www.DanimerScientific.com. 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. Anyone whos seen the classic 1967 film The Graduate starring Dustin Hoffman knows that plastics are not normally a sexy business. 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, and Danimer Scientific, Inc. (f/k/a Live Oak Acquisition Corp. (Live Oak)) announced today that they have completed their previously announced business combination. Investorsir@danimer.comPhone: 229-220-1103MediaDanimerPR@icrinc.com. 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; the inability of the parties to successfully or timely consummate the proposed transaction, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed transaction or that the approval of the stockholders of Live Oak or Danimer Scientific is not obtained; failure to realize the anticipated benefits of the proposed transaction; risks relating to the uncertainty of the projected financial information with respect to Danimer Scientific; the amount of redemption requests made by Live Oak stockholders; 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. 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