Danimer Scientific Announces Proposed Pro-Rata Distribution of Warrants to Purchase Common Stock
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Thursday, May 2, 2024
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Danimer Scientific, Inc. (NYSE: DNMR) (“Company” or “Danimer Scientific”), a leading next generation bioplastics company focused on the development and production of biodegradable materials, today announced a proposed pro-rata dividend distribution of warrants (“Dividend Warrants”) to holders of the Company’s Class A Common Stock, par value $0.0001 per share (“Common Stock”) as of May 13, 2024 (“Record Date”).
Key Points:
- Danimer Scientific, Inc. (NYSE: DNMR) (“Company” or “Danimer Scientific”), a leading next generation bioplastics company focused on the development and production of biodegradable materials, today announced a proposed pro-rata dividend distribution of warrants (“Dividend Warrants”) to holders of the Company’s Class A Common Stock, par value $0.0001 per share (“Common Stock”) as of May 13, 2024 (“Record Date”).
- After the Distribution Date, the Dividend Warrants are expected to list and trade on the OTCQX market, separate from Danimer Scientific’s Common Stock, which will continue to trade on the New York Stock Exchange.
- As an example, a stockholder who owns 3,000 shares of Common Stock would receive 1,000 Dividend Warrants, and a stockholder who owns 1,000 shares of Common Stock would receive 333 Dividend Warrants.
- The Company expects to file with the SEC a registration statement to register the shares of Common Stock underlying the Dividend Warrants.