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Danimer Scientific, Inc. (NYSE: DNMR) announced its first quarter 2024 financial results, including a 64% year-over-year increase in PHA revenue, a new commercial order for cutlery, and a $20 million credit facility. However, the company faced challenges with Starbucks shifting its straw business. Despite lower PLA revenue and adjusted EBITDA, Danimer remains optimistic about growth.
Danimer Scientific, Inc. (NYSE: DNMR) unveils new branding and commercial applications based on PHA at NPE 2024, showcasing its signature PHA, Nodax®, as a sustainable polymer alternative. The company focuses on addressing plastic pollution and microplastics proliferation with its biodegradable PHA products, produced using canola oil as a renewable feedstock. Danimer's PHA is poised for significant growth in various applications such as cutlery, flexible food packaging, and paper coatings, supported by partnerships with key brands. The company's commitment to sustainability and innovation highlights its leadership in the bioplastics industry.
Danimer Scientific, a leading bioplastics company, announced a proposed pro-rata distribution of Dividend Warrants to its stockholders, Convertible Notes holders, and pre-funded warrants holders. The distribution is subject to stockholder approval to increase the authorized shares. The Dividend Warrants will be listed on the OTCQX market and will entitle holders to purchase Common Stock. The distribution aims to improve leverage, strengthen capital structure, and maximize stockholder value.
Danimer Scientific, a bioplastics company, will release its first quarter 2024 financial results on May 7, 2024. A webcast and conference call will be held to review the results and recent events.
