Danimer Scientific Announces Closing of $15 Million Registered Direct Offering
25 Marzo 2024 - 2:15PM
Business Wire
Danimer Scientific, Inc. (NYSE: DNMR) (the “Company” or “Danimer
Scientific”), a leading next generation bioplastics company focused
on the development and production of biodegradable materials, today
announced the closing of its previously announced registered direct
offering for the purchase and sale of 15,000,000 shares of common
stock (or common stock equivalent in lieu thereof) at a purchase
price of $1.00 per share (or per common stock equivalent in lieu
thereof) and accompanying warrants to purchase up to an aggregate
of 15,000,000 shares of common stock . The warrants have an
exercise price of $1.33 per share, will be exercisable commencing
six months from the date of issuance and will expire five and
one-half years following the date of issuance.
Roth Capital Partners acted as the exclusive placement agent for
the offering.
The gross proceeds to the Company from the offering were
approximately $15 million before deducting placement agent fees and
other offering expenses payable by the Company. The Company intends
to use the net proceeds from the offering for working capital and
general corporate purposes.
The common stock (or common stock equivalent in lieu thereof)
and warrants described above were offered by the Company pursuant
to a “shelf” registration statement on Form S-3 (File No.
333-267074) that was declared effective by the Securities and
Exchange Commission (the “SEC”) on September 7, 2022. The offering
was made only by means of a prospectus, including a prospectus
supplement, forming a part of the effective registration statement.
A final prospectus supplement and accompanying prospectus relating
to the registered direct offering were filed with the SEC.
Electronic copies of the final prospectus supplement and
accompanying prospectus relating to the registered direct offering
may be obtained, by contacting Roth Capital Partners, LLC 888 San
Clemente Drive, Suite 400, Newport Beach, CA 92660, by phone at
(800) 678-9147 or by accessing the SEC’s website, www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About Danimer Scientific Danimer is a pioneer in creating
more sustainable, more natural ways to make plastic products. For
more than a decade, its renewable and sustainable biopolymers have
helped create plastic products that are biodegradable and
compostable and return to nature instead of polluting our lands and
waters. Danimer’s technology can be found in a vast array of
plastic end products that people use every day. Applications for
its biopolymers include additives, aqueous coatings, fibers,
filaments, films and injection-molded articles, among others.
Danimer holds more than 480 granted patents and pending patent
applications in more than 20 countries for a range of manufacturing
processes and biopolymer formulations. For more information, visit
https://danimerscientific.com.
Forward‐Looking Statements Please note that in this press
release we may use words such as “appears,” “anticipates,”
“believes,” “plans,” “expects,” “intends,” “future,” and similar
expressions which constitute forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include,
without limitation, statements regarding the Company’s estimated
preliminary fourth quarter and full-year 2023 results and our
expectations for our future and operational performance.
Forward-looking statements are made based on our expectations and
beliefs concerning future events impacting the Company and
therefore involve a number of risks and uncertainties. We caution
that forward-looking statements are not guarantees and that actual
results could differ materially from those expressed or implied in
the forward-looking statements. Potential risks and uncertainties
that could cause the actual results of operations or financial
condition of the Company to differ materially from those expressed
or implied by forward-looking statements in this release include,
but are not limited to our expectations related to the use of
proceeds from the equity offering; the overall level of consumer
demand on our 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 the Company’s customers;
the Company’s ability to implement its business strategy,
including, but not limited to, its ability to expand its production
facilities and plants to meet customer demand for its products and
the timing thereof; risks relating to the uncertainty of the
projected financial information with respect to the Company; the
ability of the Company to execute and integrate acquisitions;
changes in governmental regulation, legislation or public opinion
relating to our products; the Company’s exposure to product
liability or product warranty claims and other loss contingencies;
disruptions and other impacts to the Company’s business, as a
result of the COVID-19 global pandemic and government actions and
restrictive measures implemented in response; stability of the
Company’s manufacturing facilities and suppliers, as well as
consumer demand for our products, in light of disease epidemics and
health-related concerns such as the COVID-19 global pandemic; the
impact on our business, operations and financial results from the
ongoing conflict in Ukraine; the impact that global climate change
trends may have on the Company and its suppliers and customers; the
Company’s ability to protect patents, trademarks and other
intellectual property rights; any breaches of, or interruptions in,
our information systems; the ability of our information technology
systems or information security systems to operate effectively,
including as a result of security breaches, viruses, hackers,
malware, natural disasters, vendor business interruptions or other
causes; our ability to properly maintain, protect, repair or
upgrade our information technology systems or information security
systems, or problems with our transitioning to upgraded or
replacement systems; the impact of adverse publicity about the
Company and/or its brands, including without limitation, through
social media or in connection with brand damaging events and/or
public perception; fluctuations in the price, availability and
quality of raw materials and contracted products as well as foreign
currency fluctuations; our ability to utilize potential net
operating loss carryforwards; and changes in tax laws and
liabilities, tariffs, legal, regulatory, political and economic
risks. More information on potential factors that could affect the
Company’s financial results is included from time to time in the
Company’s public reports filed with the Securities and Exchange
Commission, including the Company’s Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
All forward-looking statements included in this press release are
based upon information available to the Company as of the date of
this press release and speak only as of the date hereof. We assume
no obligation to update any forward-looking statements to reflect
events or circumstances after the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240325273881/en/
Investors Blake Chamblee Phone: 770-337-6570
ir@danimer.com
Media Richard Ivey Phone: 229-254-7688
rivey@danimer.com
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