Danimer Scientific announces $15 million stock and warrants sale By Investing.com

© Reuters.

BAINBRIDGE, Ga. – Danimer Scientific, Inc. (NYSE: DNMR), a company specializing in biodegradable materials, has announced a registered direct offering involving the sale of 15 million shares of common stock and accompanying warrants. The shares and stock equivalents are priced at $1.00 each, with warrants exercisable at $1.33 per share starting six months post-issuance and expiring after five and a half years. The transaction is anticipated to close around March 25, 2024, contingent on customary closing conditions.

Roth Capital Partners is serving as the exclusive placement agent for the offering. Danimer Scientific expects to raise approximately $15 million before deductions for placement agent fees and other related expenses. The net proceeds are intended for working capital and other general corporate purposes.

The securities are being offered pursuant to an effective shelf registration statement, and details regarding the offering will be available through a prospectus supplement filed with the Securities and Exchange Commission (SEC). Interested parties can obtain copies of these documents from Roth Capital Partners or the SEC’s website.

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