SPAC-Live Oak Acquisition Inc. (LOAK), specialized in focused mergers and acquisitions, has recently merged with Danimer Scientific (DNMR).
As a producer of biopolymers, Danimer Scientific uses them to produce a wide variety of solutions, such as chemicals, water coatings, laminating compounds, fabrics, film resins, thermal adhesives, etc. Furthermore, Danimer Scientific provides research and development in the area of biopolymer formulation and offers pay-for-production and prescription services.
Scientific innovations are addressing the problems associated with increasing plastic waste volumes. The corporation manufactures, in particular, biodegradable plastic products that satisfy new sustainable market criteria.
The merger with Live Oak Acquisition would include an advertisement for Danimer Science and the investment funds will be used to improve production capacity. The company says its Kentucky plant runs at maximum capacity, and to satisfy market demand, additional capital spending is required.
To manufacture products such as straws and food and beverage packaging, Danimer Scientific has collaborated with consumer packaged goods firms, including PepsiCo (PEP), Nestle (NSRGY), and Bacardi.
Danimer Scientific can also be an interesting investment. This is described by the strong response of owners of Live Oak Acquisition which eventually resulted in their merger.
Danimer Scientific (DNMR) on Wednesday surged 1.51 percent to settle at $25.51, while the company’s gain reaches 2.16% over the past week. Since the start of the year (also the post-merger), the Bainbridge, Georgia-based company has risen 8.51% bringing the market capitalization of the firm to $2.21 billion.