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Bolt Threads Announces Closing of Business Combination and Will Begin Trading on Nasdaq Under New Symbol “BSLK”

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Bolt Threads (Nasdaq: BSLK) has completed its business combination with Golden Arrow Merger Corp (Nasdaq: GAMC), approved on August 9, 2024. The new entity, Bolt Projects Holdings, will trade on Nasdaq starting August 14, 2024, under the ticker BSLK. Led by CEO Dan Widmaier, Bolt Threads aims to scale its sustainable biomaterials platform, particularly in the beauty and personal care sectors.

The company boasts a significant intellectual property portfolio with 49 granted patents and 171 pending applications. Its flagship product, b-silk™, offers a biodegradable and non-toxic alternative to silicone elastomers in beauty products. Bolt Threads envisions substantial growth and value creation for stakeholders.

Bolt Threads (Nasdaq: BSLK) ha completato la sua fusione con Golden Arrow Merger Corp (Nasdaq: GAMC), approvata il 9 agosto 2024. La nuova entità, Bolt Projects Holdings, inizierà a essere quotata su Nasdaq a partire dal 14 agosto 2024, con il ticker BSLK. Sotto la guida del CEO Dan Widmaier, Bolt Threads punta a espandere la sua piattaforma di biomateriali sostenibili, in particolare nei settori della bellezza e della cura personale.

L'azienda vanta un portafoglio significativo di proprietà intellettuale con 49 brevetti concessi e 171 domande in attesa. Il suo prodotto di punta, b-silk™, offre un'alternativa biodegradabile e non tossica ai elastomeri siliconici nei prodotti di bellezza. Bolt Threads prevede una crescita sostanziale e creazione di valore per gli stakeholder.

Bolt Threads (Nasdaq: BSLK) ha completado su fusión con Golden Arrow Merger Corp (Nasdaq: GAMC), aprobada el 9 de agosto de 2024. La nueva entidad, Bolt Projects Holdings, comenzará a cotizar en Nasdaq a partir del 14 de agosto de 2024, bajo el ticker BSLK. Dirigida por el CEO Dan Widmaier, Bolt Threads busca escalar su plataforma de biomateriales sostenibles, especialmente en los sectores de belleza y cuidado personal.

La empresa cuenta con un importante portafolio de propiedad intelectual con 49 patentes otorgadas y 171 solicitudes pendientes. Su producto insignia, b-silk™, ofrece una alternativa biodegradable y no tóxica a los elastómeros de silicona en productos de belleza. Bolt Threads visualiza un crecimiento sustancial y creación de valor para las partes interesadas.

Bolt Threads (Nasdaq: BSLK)는 2024년 8월 9일 승인된 Golden Arrow Merger Corp (Nasdaq: GAMC)과의 사업 결합을 완료했습니다. 새로운 법인인 Bolt Projects Holdings는 2024년 8월 14일부터 Nasdaq에서 BSLK라는 티커로 거래될 예정입니다. CEO Dan Widmaier가 이끄는 Bolt Threads는 특히 뷰티 및 개인 관리 분야에서 지속 가능한 바이오 소재 플랫폼을 확대하는 것을 목표로 하고 있습니다.

이 회사는 49개의 특허가 등록되어 있고 171개의 특허 출원이 대기 중인 상당한 지적 재산권 포트폴리오를 자랑합니다. 플래그십 제품인 b-silk™는 뷰티 제품에서 실리콘 엘라스토머에 대한 생분해 가능하고 무독성 대안을 제공합니다. Bolt Threads는 이해관계자를 위한 상당한 성장과 가치 창출을 구상하고 있습니다.

Bolt Threads (Nasdaq: BSLK) a finalisé sa fusion avec Golden Arrow Merger Corp (Nasdaq: GAMC), approuvée le 9 août 2024. La nouvelle entité, Bolt Projects Holdings, commencera à être cotée sur Nasdaq à partir du 14 août 2024, sous le ticker BSLK. Dirigée par le PDG Dan Widmaier, Bolt Threads vise à développer sa plateforme de biomatériaux durables, en particulier dans les secteurs de la beauté et des soins personnels.

L'entreprise possède un portefeuille de propriété intellectuelle significatif avec 49 brevets accordés et 171 demandes en attente. Son produit phare, b-silk™, offre une alternative biodégradable et non toxique aux élastomères de silicone dans les produits de beauté. Bolt Threads envisage une croissance substantielle et la création de valeur pour les parties prenantes.

Bolt Threads (Nasdaq: BSLK) hat seine Unternehmensfusion mit Golden Arrow Merger Corp (Nasdaq: GAMC) abgeschlossen, die am 9. August 2024 genehmigt wurde. Die neue Einheit, Bolt Projects Holdings, wird ab dem 14. August 2024 unter dem Ticker BSLK an der Nasdaq gehandelt. Unter der Führung von CEO Dan Widmaier hat Bolt Threads das Ziel, seine nachhaltige Biomaterialplattform insbesondere in den Bereichen Schönheit und Körperpflege auszubauen.

Das Unternehmen verfügt über ein bedeutendes Portfolio an geistigem Eigentum mit 49 erteilten Patenten und 171 anhängigen Anmeldungen. Das Flaggschiffprodukt, b-silk™, bietet eine biologisch abbaubare und ungiftige Alternative zu Silikonkautschuken in Schönheitsprodukten. Bolt Threads sieht erhebliches Wachstum und Wertschöpfung für seine Stakeholder vor.

Positive
  • Completion of business combination with Golden Arrow Merger Corp.
  • Trading on Nasdaq under new ticker BSLK starting August 14, 2024.
  • Strong intellectual property portfolio: 49 granted patents and 171 pending applications.
  • Focused on scaling sustainable biomaterials in high-volume consumer goods industries.
Negative
  • None.

Insights

The merger of Bolt Threads with Golden Arrow Merger Corp marks a significant milestone for the biomaterials company. Going public through this SPAC deal provides Bolt Threads with increased access to capital, potentially accelerating its growth and market penetration. The company's focus on sustainable alternatives in the consumer goods sector, particularly in beauty and personal care, aligns with growing consumer demand for eco-friendly products. However, investors should note that while Bolt Threads has an impressive IP portfolio with 49 granted patents and 171 pending applications, the company's revenue figures and profitability are not disclosed in this announcement. This lack of financial transparency adds an element of risk for potential investors. The success of b-silk™ in replacing silicone elastomers could be a game-changer, but market adoption rates and competitive pressures will be important factors to monitor.

Bolt Threads' public debut comes at a time when the sustainable materials market is gaining significant traction. The global biotech ingredients market, which includes biomaterials, is projected to reach $75.3 billion by 2028, with a CAGR of 8.7%. Bolt Threads' b-silk™ product is well-positioned to capitalize on the growing demand for sustainable beauty ingredients, especially as regulations tighten around microplastics. The company's partnerships with brands like Vegamour and Kelly Slater's Freaks of Nature provide initial market validation. However, the competitive landscape is intensifying, with both established chemical companies and startups vying for market share in sustainable materials. Bolt Threads will need to demonstrate scalability and cost-effectiveness to gain widespread adoption in the price-sensitive consumer goods industry. The company's success will largely depend on its ability to expand its product portfolio and secure high-volume contracts with major beauty and personal care brands.

Bolt Threads' biomaterials platform represents a significant technological advancement in the field of sustainable materials. Their approach of using protein polymers inspired by spider silk to create biodegradable alternatives to synthetic ingredients is innovative and has broad potential applications. The company's extensive patent portfolio suggests a strong R&D focus and potential for future innovations. However, scaling up production of these biomaterials to meet industrial demand can be challenging. Investors should watch for announcements regarding production capacity and manufacturing partnerships. The success of b-silk™ in beauty products demonstrates proof-of-concept, but the company's ability to expand into other consumer goods sectors will be important for long-term growth. Additionally, as the field of synthetic biology advances, Bolt Threads will need to continually innovate to maintain its technological edge against potential competitors entering the biomaterials space.

Transaction Will Help Accelerate Bolt Threads’ Pioneering Biomaterials Platform, Scaling its Sustainable Materials in the Consumer Goods Industry, Starting With Beauty and Personal Care

BERKELEY, Calif.--(BUSINESS WIRE)-- Bolt Threads, Inc. (Nasdaq: BSLK) (“Bolt Threads”), a pioneer in sustainable biomaterials for consumer products, today reported the closing of its previously announced business combination with Golden Arrow Merger Corp (Nasdaq: GAMC) (“Golden Arrow”). GAMC shareholders approved the transaction at GAMC’s special meeting held on August 9, 2024.

The combined company is now called Bolt Projects Holdings Inc. and its common stock is expected to begin trading on the Nasdaq Stock Market on August 14, 2024, under the ticker symbol “BSLK”. The combined company will be led by Bolt Threads Founder and CEO Dan Widmaier.

“We are pleased to begin our next chapter in the public market as the leading biomaterials platform, focused on transforming the high-volume consumer goods industries by delivering superior alternative materials tapped from nature,” said Dan Widmaier, Bolt Threads co-founder and chief executive officer. “We are thankful to our leadership team, employees and partners for their support on our journey. We believe Bolt Threads is well-positioned to capitalize on significant growth opportunities and generate substantial value for all stakeholders.”

“Bolt Threads’ biomaterials platform offers a complete solution of sustainable alternatives from nature that can transform a multitude of high-volume consumer goods with biodegradable, non-toxic alternatives,” said Jacob W. Doft, Chairman of the Board at Golden Arrow. “We look forward to accelerating Bolt Threads’ growth and solidifying a long-term partnership.”

Company Overview

Bolt Threads is a purpose-driven biomaterials platform dedicated to fostering a better future for both people and the planet. Bolt Threads creates innovative solutions and products that are inspired by natural biodiversity. With 14 years of research, testing, and developing groundbreaking materials, the company replaces traditional ingredients and processes in high-volume consumer goods manufacturing with sustainable, nature-derived alternatives. Bolt Threads boasts an impressive intellectual property portfolio, featuring 49 granted patents and 171 pending patent applications.

B-silk™ is Bolt Threads’ flagship product, a fully biodegradable, non-toxic, and versatile ingredient designed for the beauty and personal care industry. In beauty formulations, it replaces silicone elastomers, a synthetic ingredient that leaves biopersistent polymers, including microplastics, in the water system and faces growing consumer and regulatory scrutiny. Inspired by the proteins found in spider webs, b-silk’s novel protein polymer is both biobased and biodegradable. Available since 2020, b-silk is featured in products such as Vegamour and Kelly Slater’s Freaks of Nature sunscreen.

Advisors

BTIG, LLC acted as financial advisor and Latham & Watkins LLP acted as legal advisor to Bolt Threads. Greenberg Traurig, LLP acted as legal advisor to Golden Arrow. Ellenoff Grossman & Schole LLP acted as legal advisor to BTIG, LLC.

About Bolt Threads

Bolt Threads was founded by scientists and engineers, and is dedicated to pioneering way better materials for a way better world. The company focuses on developing efficacious and sustainable solutions tailored for the consumer goods segment. “Inspired by nature, made by humans” is the Bolt Threads’ model, revolving around creating and scaling materials that steer us towards a more sustainable future. Its flagship product is b-silk, a biobased and biodegradable substitute for silicone elastomers. This material not only offers valuable benefits to consumers and formulators but also positively impacts the environment. Bolt Threads is based in Berkeley, Calif., in the U.S., and has previously been recognized by Fast Company’s Most Innovative Companies.

About Golden Arrow Merger Corp.

Golden Arrow Merger Corp. is a blank check company formed as a Delaware corporation for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical facts contained in this communication, including statements regarding Bolt Threads’ or the combined company’s business strategy and plans and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “pro forma”, “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Forward-looking statements include, without limitation, the company’s expectations concerning the outlook for the business, productivity, plans, and goals for future operational improvements and capital investments, operational performance, future market conditions or economic performance and developments in the capital and credit markets, and expected future financial performance, as well as any information concerning possible or assumed future results of operations of the company.

Forward-looking statements involve a number of risks, uncertainties, and assumptions, and actual results or events may differ materially from those projected or implied in those statements. Important factors that could cause such differences include, but are not limited to: (i) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees, and the costs related to the business combination; (ii) changes in applicable laws or regulations; (iii) the possibility that the company may be adversely affected by other economic, business, regulatory, and/or competitive factors; (iv) the evolution of the markets in which the company competes; (v) the ability of the company to implement its strategic initiatives and continue to innovate its existing products; (vi) the ability of the company to defend its intellectual property; (vii) the ability of the company to satisfy regulatory requirements; (viii) the risk that the company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; (ix) the risk that the company experiences difficulties in managing its growth and expanding operations; and (x) other risks and uncertainties set forth in the documents filed or to be filed with the SEC by the company, including the proxy statement/prospectus filed with the SEC on July 18, 2024.

The company cautions you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth herein speak only as of the date they are made. The company undertakes no obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, except as otherwise required by law.

For Golden Arrow Media Inquiries:

Info@goldenarrowspac.com

For Bolt Threads Media Inquiries:

BoltThreads@allisonworldwide.com

Source: Bolt Threads, Inc.

FAQ

What is the new ticker symbol for Bolt Threads after the business combination?

The new ticker symbol for Bolt Threads is BSLK.

When will Bolt Threads start trading under the new ticker symbol BSLK?

Bolt Threads will start trading under the new ticker symbol BSLK on August 14, 2024.

What is Bolt Threads' flagship product?

Bolt Threads' flagship product is b-silk™, a biodegradable and non-toxic ingredient for the beauty and personal care industry.

How many patents does Bolt Threads have?

Bolt Threads has 49 granted patents and 171 pending patent applications.

What industries will Bolt Threads focus on after the business combination?

Bolt Threads will focus on the beauty and personal care industries with its sustainable biomaterials.

Bolt Projects Holdings, Inc.

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