BAINBRIDGE, Georgia – (BUSINESS WIRE) – Danimer Scientific (NYSE: DNMR) (“Danimer” or the “Company”), a leading next-generation bioplastics company focused on the development and production of biodegradable materials, today announced a response to the public statement issued by Securities and Exchange Commission staff on April 12, 2021 (the “Staff Statement”) regarding accounting and reporting considerations for warrants issued by Special Purpose Acquisition Companies (“SPAC”).

Like other SPACs, the company had previously classified its private warrants (“private warrants”), which were issued in 2020, in equity. However, after assessing the status of personnel and consulting with its advisers, the Company will restate its audited consolidated financial statements for the year ended December 31, 2020 in order to classify the Company’s private warrants as a liability rather than as a liability. equity as indicated above and to reflect the change in the fair value of this liability during each period as a non-cash charge or gain in the consolidated statement of income. This restatement will have no impact on Danimer’s current or historical cash or cash equivalents, income, operating loss or cash flows related to operating, investing or financing activities. The company also assesses the impact of the facts and circumstances described above on management’s assessment of the effectiveness of internal control over financial reporting and disclosure controls and procedures. .

The Company is working diligently to finalize the valuation and accounting treatment of private warrants and intends to file an amendment to its annual report on Form 10-K for the year ended December 31, 2020 as soon as reasonably possible. .

For more details, please visit: https://ir.danimerscientific.com/sec-filings

About Danimer Scientific

Danimer Scientific is a pioneer in creating more sustainable and natural methods of making plastic products. For more than a decade, the company’s renewable and sustainable biopolymers have helped create biodegradable and compostable plastic products. They return to nature instead of polluting the environment. Danimer Scientific’s technology is found in a wide variety of finished plastic products that people use every day. Danimer Scientific’s biopolymer applications include additives, aqueous coatings, fibers, filaments, films, hot melt adhesives and injection molded articles, among others. The company now holds more than 150 patents and pending patent applications in more than 20 countries for a range of manufacturing processes and biopolymer formulations. For more information, visit www.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, including statements regarding the expected impact of the restatement of the company’s financial statements on our 2020 financial results, are made on the basis of our expectations and beliefs regarding future events having an impact on 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 forward-looking statements. The potential risks and uncertainties that could cause the actual results of operations or the financial condition of the Company to differ materially from those expressed or implied in the forward-looking statements in this press release include, but are not limited to, the carrying out the audit of the company. The company’s restated financial statements, the overall level of consumer demand for our products; general economic conditions and other factors affecting consumer confidence, preferences and behavior; the disruption and volatility of global currency, capital and credit markets; the financial strength of the company’s customers; the company’s ability to execute its business strategy, including, but not limited to, its ability to expand its production facilities and factories to meet customer demand for its products and the timing of that -this; risks related to the uncertainty of the projected financial information vis-à-vis the Company; the company’s ability to execute and integrate acquisitions; changes in government regulations, laws or public opinion regarding our products; the company’s exposure to product liability or product warranty claims and other risks of loss; disruptions and other impacts on the Company’s activities, following the global COVID-19 pandemic and government actions and restrictive measures implemented in response; the stability of the company’s manufacturing facilities and suppliers, as well as consumer demand for our products, in light of disease outbreaks and health issues such as the global COVID-19 pandemic; 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 breach or interruption of our information systems; the ability of our information technology systems or information security systems to function effectively, including in the wake of security breaches, viruses, hackers, malware, natural disasters, ‘interruptions of supplier activities or other causes; our ability to properly maintain, protect, repair or upgrade our information technology or information security systems, or problems with our transition to upgraded or replacement systems; the impact of unfavorable advertising on the Company and / or its brands, including, without limitation, via social media or in connection with events damaging to the brand and / or public perception; fluctuations in the price, availability and quality of raw materials and products under contract as well as fluctuations in foreign currencies; our ability to use potential net operating loss carryforwards; and changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks. Further information about 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 on 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.