Danimer Scientific Receives Continued Listing Standard Notice from NYSE
29 Januar 2024 - 11:00PM
Business Wire
The Company’s common stock continues to trade
on the NYSE under symbol “DNMR”
Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the
“Company”), a leading, next-generation bioplastics company focused
on the production of biodegradable materials, announced that it
received a notice from the New York Stock Exchange (“NYSE”) on
January 23, 2024, that the Company is not currently in compliance
with the NYSE’s continued listing standard requiring listed-company
stock to maintain an average closing price of not less than $1.00
per share over a period of thirty (30) consecutive trading days.
The Notice does not result in the immediate delisting of the
Company’s Common Stock from the NYSE.
On January 26, 2024, the Company notified the NYSE that it
intends to cure the stock price deficiency and return to compliance
with the NYSE’s minimum share price standard within the six-month
period following receipt of the Notice. The Company’s Common Stock
will continue to be listed and trade on the NYSE during this
period, subject to its compliance with other NYSE continued listing
standards. The receipt of the Notice does not affect the Company’s
business, operations or reporting requirements with the Securities
and Exchange Commission.
The Company intends to consider all available options to cure
its non-compliance with the NYSE minimum share price standard. The
Company can regain compliance with the minimum share price
requirement at any time during the six-month cure period if, on the
last trading day of any calendar month during the cure period or on
the last day of the cure period, the Company has (i) a closing
share price of at least $1.00, and (ii) an average closing share
price of at least $1.00 over the 30 trading-day periods ending on
the last trading day of that month.
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, films and injection-molded
articles, among others. Danimer holds more than 430 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 our expectations for the Company’s future financial and
operational performance, including full year capital expenditures,
Adjusted EBITDA and cash balances. 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, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240129560821/en/
Investors Blake Chamblee Phone: 770-337-6570
ir@danimer.com
Media Richard Ivey Phone: 229-254-7688
rivey@danimer.com
Danimer Scientific (NYSE:DNMR)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Danimer Scientific (NYSE:DNMR)
Historical Stock Chart
Von Apr 2023 bis Apr 2024